BidaskClub upgraded shares of Pinnacle Foods, Inc. (NYSE:PF) from a buy rating to a strong-buy rating in a research report sent to investors on Tuesday, June 27th.
A number of other research analysts have also issued reports on PF. Barclays PLC restated a buy rating on shares of Pinnacle Foods in a research report on Wednesday, March 1st. Zacks Investment Research upgraded shares of Pinnacle Foods from a hold rating to a buy rating and set a $64.00 price target on the stock in a research report on Tuesday, February 28th. BMO Capital Markets restated a buy rating and set a $63.00 price target on shares of Pinnacle Foods in a research report on Tuesday, June 27th. Credit Suisse Group set a $62.00 price target on shares of Pinnacle Foods and gave the stock a buy rating in a research report on Thursday, April 20th. Finally, Jefferies Group LLC started coverage on shares of Pinnacle Foods in a report on Tuesday, April 11th. They issued a buy rating and a $67.00 target price on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and fifteen have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $61.71.
Shares of Pinnacle Foods (NYSE PF) opened at 58.98 on Tuesday. Pinnacle Foods has a one year low of $46.36 and a one year high of $66.67. The stock has a market capitalization of $7.00 billion, a P/E ratio of 33.40 and a beta of 0.35. The stock has a 50 day moving average price of $60.84 and a 200 day moving average price of $57.11.
Pinnacle Foods (NYSE:PF) last posted its earnings results on Thursday, April 27th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.04. The firm had revenue of $766.10 million during the quarter, compared to analyst estimates of $766.52 million. Pinnacle Foods had a net margin of 6.66% and a return on equity of 13.97%. Pinnacle Foods’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.40 EPS. Equities analysts forecast that Pinnacle Foods will post $2.59 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, July 7th. Investors of record on Tuesday, June 6th were given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Friday, June 2nd. Pinnacle Foods’s payout ratio is presently 64.77%.
In other Pinnacle Foods news, EVP Michael J. Barkley sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $60.44, for a total value of $604,400.00. Following the completion of the sale, the executive vice president now directly owns 17,355 shares of the company’s stock, valued at $1,048,936.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.34% of the company’s stock.
Several hedge funds have recently modified their holdings of PF. Tower Research Capital LLC TRC boosted its stake in shares of Pinnacle Foods by 599.0% in the first quarter. Tower Research Capital LLC TRC now owns 2,097 shares of the company’s stock worth $121,000 after buying an additional 1,797 shares during the last quarter. Acrospire Investment Management LLC boosted its stake in shares of Pinnacle Foods by 107.1% in the first quarter. Acrospire Investment Management LLC now owns 2,900 shares of the company’s stock worth $168,000 after buying an additional 1,500 shares during the last quarter. Harbour Capital Advisors LLC purchased a new stake in shares of Pinnacle Foods during the first quarter worth $204,000. M&T Bank Corp purchased a new stake in shares of Pinnacle Foods during the first quarter worth $217,000. Finally, World Asset Management Inc boosted its stake in shares of Pinnacle Foods by 2.8% in the first quarter. World Asset Management Inc now owns 4,250 shares of the company’s stock worth $246,000 after buying an additional 116 shares during the last quarter. Institutional investors and hedge funds own 96.70% of the company’s stock.
Pinnacle Foods Company Profile
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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