Pinnacle Foods Inc. (PF) Trading Up 1.4%
Pinnacle Foods Inc. (NYSE:PF) was up 1.4% during trading on Wednesday . The stock traded as high as $48.53 and last traded at $48.47, with a volume of 525,971 shares changing hands. The stock had previously closed at $47.79.
Several equities research analysts have commented on PF shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $52.00 price target on shares of Pinnacle Foods in a report on Wednesday, March 23rd. Goldman Sachs Group Inc. raised shares of Pinnacle Foods from a “neutral” rating to a “buy” rating and increased their target price for the stock from $48.00 to $57.00 in a research note on Tuesday. Bank of America Corp. reissued a “buy” rating on shares of Pinnacle Foods in a research note on Tuesday, May 24th. Zacks Investment Research raised shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research note on Tuesday, April 19th. Finally, DA Davidson reissued a “hold” rating on shares of Pinnacle Foods in a research note on Thursday, March 24th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $49.25.
The firm’s 50-day moving average price is $44.17 and its 200 day moving average price is $43.48. The company has a market cap of $5.64 billion and a PE ratio of 28.93.
Pinnacle Foods (NYSE:PF) last posted its quarterly earnings data on Thursday, April 28th. The company reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The business earned $754.30 million during the quarter, compared to analyst estimates of $771.50 million. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, equities research analysts anticipate that Pinnacle Foods Inc. will post $2.11 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 8th. Shareholders of record on Tuesday, June 7th were paid a $0.255 dividend. The ex-dividend date of this dividend was Friday, June 3rd. This represents a $1.02 dividend on an annualized basis and a yield of 2.11%.
In other Pinnacle Foods news, CFO Craig D. Steeneck sold 20,683 shares of Pinnacle Foods stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $43.58, for a total value of $901,365.14. Following the transaction, the chief financial officer now directly owns 177,014 shares in the company, valued at $7,714,270.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael Kelley Maggs sold 5,000 shares of Pinnacle Foods stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $44.00, for a total transaction of $220,000.00. Following the completion of the transaction, the executive vice president now owns 75,951 shares in the company, valued at $3,341,844. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have bought and sold shares of PF. American Century Companies Inc. raised its position in Pinnacle Foods by 87.8% in the fourth quarter. American Century Companies Inc. now owns 43,272 shares of the company’s stock worth $1,837,000 after buying an additional 20,231 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of Pinnacle Foods by 1.0% in the fourth quarter. Nationwide Fund Advisors now owns 138,735 shares of the company’s stock worth $5,891,000 after buying an additional 1,360 shares during the period. State Board of Administration of Florida Retirement System raised its position in shares of Pinnacle Foods by 39.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 52,074 shares of the company’s stock worth $2,211,000 after buying an additional 14,853 shares during the period. US Bancorp DE raised its position in shares of Pinnacle Foods by 5.4% in the fourth quarter. US Bancorp DE now owns 36,333 shares of the company’s stock worth $1,543,000 after buying an additional 1,859 shares during the period. Finally, Marshall Wace LLP purchased a new position in shares of Pinnacle Foods during the fourth quarter worth about $6,490,000.
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America. The Company operates through three segments: the Birds Eye Frozen segment, the Duncan Hines Grocery segment and the Specialty Foods segment. The Birds Eye Frozen segment manages its brands in the United States retail frozen vegetables (Birds Eye), frozen complete bagged meals (Birds Eye Voila!), and frozen seafood (Van de Kamp’s and Mrs.
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