Pinnacle Foods, Inc. (PF) Given Average Recommendation of “Buy” by Brokerages
Pinnacle Foods, Inc. (NYSE:PF) has been given an average recommendation of “Buy” by the fourteen research firms that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $63.90.
A number of research analysts have recently weighed in on PF shares. Credit Suisse Group set a $62.00 price target on Pinnacle Foods and gave the company a “buy” rating in a report on Thursday, April 20th. BidaskClub downgraded Pinnacle Foods from a “strong-buy” rating to a “buy” rating in a report on Monday, July 3rd. Deutsche Bank AG lifted their price target on Pinnacle Foods from $63.00 to $64.00 and gave the company a “buy” rating in a report on Friday, April 28th. Royal Bank Of Canada reiterated a “buy” rating and set a $66.00 price target on shares of Pinnacle Foods in a report on Friday, April 28th. Finally, Zacks Investment Research upgraded Pinnacle Foods from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a report on Tuesday, June 27th.
Pinnacle Foods (NYSE:PF) traded down 0.02% during mid-day trading on Friday, hitting $58.89. The company had a trading volume of 85,686 shares. Pinnacle Foods has a one year low of $46.36 and a one year high of $66.67. The company has a market cap of $7.00 billion, a PE ratio of 38.36 and a beta of 0.34. The company’s 50 day moving average price is $59.89 and its 200-day moving average price is $58.45.
Pinnacle Foods (NYSE:PF) last issued its earnings results on Thursday, July 27th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.01. Pinnacle Foods had a return on equity of 14.47% and a net margin of 5.82%. The business had revenue of $744.61 million for the quarter, compared to analysts’ expectations of $764.41 million. During the same period in the previous year, the firm posted $0.42 EPS. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts anticipate that Pinnacle Foods will post $2.56 EPS for the current fiscal year.
In other Pinnacle Foods news, EVP Mark L. Schiller sold 50,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $59.37, for a total value of $2,968,500.00. Following the completion of the sale, the executive vice president now owns 96,377 shares of the company’s stock, valued at $5,721,902.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Craig D. Steeneck sold 33,095 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $59.61, for a total value of $1,972,792.95. Following the completion of the sale, the chief financial officer now directly owns 204,364 shares of the company’s stock, valued at approximately $12,182,138.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 134,739 shares of company stock valued at $7,996,311. Insiders own 1.34% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Pinnacle Foods by 4.9% in the first quarter. Vanguard Group Inc. now owns 9,694,188 shares of the company’s stock worth $561,003,000 after buying an additional 451,875 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Pinnacle Foods by 10,669.1% in the first quarter. BlackRock Inc. now owns 5,246,808 shares of the company’s stock worth $303,633,000 after buying an additional 5,198,087 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Pinnacle Foods by 8.2% in the first quarter. TIAA CREF Investment Management LLC now owns 4,222,339 shares of the company’s stock worth $244,347,000 after buying an additional 320,832 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in shares of Pinnacle Foods by 5.0% in the first quarter. OppenheimerFunds Inc. now owns 2,243,595 shares of the company’s stock worth $129,837,000 after buying an additional 106,737 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Pinnacle Foods by 2.4% in the second quarter. Franklin Resources Inc. now owns 2,121,315 shares of the company’s stock worth $126,014,000 after buying an additional 50,478 shares in the last quarter. 97.00% of the stock is owned by institutional investors.
About Pinnacle Foods
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America. The Company operates through four segments: Frozen segment, the Grocery segment, the Boulder segment and the Specialty segment. Its products are sold through supermarkets, grocery wholesalers and distributors, mass merchandisers, super centers, convenience stores, dollar stores, drug stores and warehouse clubs in the United States and Canada, as well as in military channels and foodservice locations.
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