Pinnacle Foods, Inc. (PF) Given Consensus Recommendation of “Buy” by Analysts
Pinnacle Foods, Inc. (NYSE:PF) has earned an average recommendation of “Buy” from the fourteen brokerages that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $65.00.
Several equities analysts recently weighed in on PF shares. BidaskClub lowered shares of Pinnacle Foods from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Royal Bank Of Canada restated an “outperform” rating and set a $67.00 price target (up previously from $66.00) on shares of Pinnacle Foods in a research report on Tuesday, July 25th. UBS AG restated a “buy” rating and set a $65.00 price target on shares of Pinnacle Foods in a research report on Monday, August 28th. Zacks Investment Research upgraded shares of Pinnacle Foods from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Finally, J P Morgan Chase & Co restated an “overweight” rating and set a $68.00 price target (up previously from $65.00) on shares of Pinnacle Foods in a research report on Wednesday, June 28th.
TRADEMARK VIOLATION NOTICE: This report was reported by Watch List News and is owned by of Watch List News. If you are viewing this report on another site, it was copied illegally and republished in violation of United States and international copyright legislation. The legal version of this report can be viewed at https://www.watchlistnews.com/pinnacle-foods-inc-pf-given-consensus-recommendation-of-buy-by-analysts/1598523.html.
Pinnacle Foods (NYSE:PF) traded up 0.11% during mid-day trading on Friday, hitting $57.17. 878,900 shares of the stock were exchanged. The stock’s 50-day moving average is $59.51 and its 200 day moving average is $59.45. Pinnacle Foods has a 52 week low of $46.36 and a 52 week high of $66.67. The company has a market capitalization of $6.79 billion, a PE ratio of 37.24 and a beta of 0.35.
Pinnacle Foods (NYSE:PF) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The company had revenue of $744.61 million during the quarter, compared to analyst estimates of $764.41 million. Pinnacle Foods had a net margin of 5.82% and a return on equity of 14.47%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. On average, analysts anticipate that Pinnacle Foods will post $2.56 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 9th. Shareholders of record on Tuesday, August 29th will be issued a dividend of $0.325 per share. The ex-dividend date of this dividend is Friday, August 25th. This is an increase from Pinnacle Foods’s previous quarterly dividend of $0.29. This represents a $1.30 annualized dividend and a yield of 2.27%. Pinnacle Foods’s dividend payout ratio is 84.97%.
In other Pinnacle Foods news, EVP Christopher J. Boever sold 26,682 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $59.02, for a total transaction of $1,574,771.64. Following the sale, the executive vice president now directly owns 66,296 shares of the company’s stock, valued at $3,912,789.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mark L. Schiller sold 50,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $59.37, for a total transaction of $2,968,500.00. Following the sale, the executive vice president now directly owns 96,377 shares in the company, valued at $5,721,902.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 151,912 shares of company stock worth $9,037,020. Insiders own 1.34% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prudential Financial Inc. lifted its holdings in Pinnacle Foods by 27.9% during the first quarter. Prudential Financial Inc. now owns 9,620 shares of the company’s stock valued at $557,000 after purchasing an additional 2,100 shares during the last quarter. Invictus RG purchased a new stake in Pinnacle Foods during the first quarter valued at about $439,000. FMR LLC lifted its holdings in Pinnacle Foods by 45.7% during the first quarter. FMR LLC now owns 339,895 shares of the company’s stock valued at $19,670,000 after purchasing an additional 106,623 shares during the last quarter. Macquarie Group Ltd. lifted its holdings in Pinnacle Foods by 13.2% during the first quarter. Macquarie Group Ltd. now owns 946,301 shares of the company’s stock valued at $54,762,000 after purchasing an additional 110,646 shares during the last quarter. Finally, Omni Partners LLP purchased a new stake in Pinnacle Foods during the second quarter valued at about $5,058,000. 95.40% of the stock is currently owned by institutional investors and hedge funds.
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.
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.