Pinnacle Foods, Inc. (PF) Earns Overweight Rating from Analysts at Piper Jaffray Companies
Piper Jaffray Companies began coverage on shares of Pinnacle Foods, Inc. (NYSE:PF) in a research note issued to investors on Monday. The brokerage issued an overweight rating and a $60.00 price target on the stock.
Several other research analysts have also weighed in on PF. Zacks Investment Research lowered shares of Pinnacle Foods from a buy rating to a hold rating in a research report on Monday, October 17th. Deutsche Bank AG reiterated a hold rating on shares of Pinnacle Foods in a research report on Friday, October 21st. J P Morgan Chase & Co began coverage on shares of Pinnacle Foods in a research report on Thursday, December 15th. They issued an overweight rating and a $58.00 price target on the stock. Finally, RBC Capital Markets reiterated an outperform rating and issued a $58.00 price target (up from $56.00) on shares of Pinnacle Foods in a research report on Wednesday, December 21st. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $54.50.
Shares of Pinnacle Foods (NYSE:PF) opened at 52.88 on Monday. The stock has a market cap of $6.24 billion, a price-to-earnings ratio of 30.94 and a beta of 0.31. Pinnacle Foods has a 12 month low of $39.15 and a 12 month high of $54.45. The firm has a 50-day moving average price of $51.80 and a 200-day moving average price of $50.14.
Pinnacle Foods (NYSE:PF) last issued its earnings results on Thursday, October 27th. The company reported $0.53 earnings per share for the quarter, hitting the consensus estimate of $0.53. Pinnacle Foods had a net margin of 6.76% and a return on equity of 13.25%. The company had revenue of $758.80 million for the quarter, compared to analyst estimates of $773.54 million. During the same period in the prior year, the business posted $0.46 earnings per share. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. Equities analysts expect that Pinnacle Foods will post $2.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 10th. Investors of record on Tuesday, December 20th were given a dividend of $0.285 per share. The ex-dividend date of this dividend was Friday, December 16th. This represents a $1.14 dividend on an annualized basis and a yield of 2.16%. Pinnacle Foods’s dividend payout ratio (DPR) is currently 66.67%.
In related news, CMO Michael J. Barkley sold 1,404 shares of the firm’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $53.50, for a total transaction of $75,114.00. Following the sale, the chief marketing officer now owns 4,211 shares in the company, valued at $225,288.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Kelley Maggs sold 5,000 shares of the stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $51.43, for a total transaction of $257,150.00. Following the transaction, the executive vice president now directly owns 50,951 shares in the company, valued at approximately $2,620,409.93. The disclosure for this sale can be found here. Corporate insiders own 2.75% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Pinnacle Foods during the third quarter worth $136,000. Panagora Asset Management Inc. bought a new position in Pinnacle Foods during the third quarter worth $150,000. Financial Architects Inc increased its position in Pinnacle Foods by 425.3% in the second quarter. Financial Architects Inc now owns 3,005 shares of the company’s stock worth $139,000 after buying an additional 2,433 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Pinnacle Foods during the third quarter worth $164,000. Finally, Metropolitan Life Insurance Co. NY increased its position in Pinnacle Foods by 0.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 3,417 shares of the company’s stock worth $158,000 after buying an additional 19 shares in the last quarter. 98.71% of the stock is currently owned by institutional investors.
Pinnacle Foods Company Profile
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.
Receive News & Ratings for Pinnacle Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Foods Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.