Piper Jaffray Companies cut shares of Pinnacle Foods (NYSE:PF) from an overweight rating to a neutral rating in a research report sent to investors on Monday morning, Marketbeat.com reports. The firm currently has $68.00 target price on the stock, down from their prior target price of $69.00.

A number of other research analysts have also recently commented on the company. Zacks Investment Research upgraded Pinnacle Foods from a hold rating to a buy rating and set a $74.00 price target for the company in a research note on Tuesday, July 10th. Barclays cut Pinnacle Foods from an overweight rating to an equal weight rating in a research note on Friday, June 29th. CL King cut Pinnacle Foods from a buy rating to a neutral rating in a research note on Thursday, August 2nd. Deutsche Bank cut Pinnacle Foods from a buy rating to a hold rating in a research note on Wednesday, June 27th. Finally, William Blair cut Pinnacle Foods from an outperform rating to a market perform rating in a research note on Wednesday, June 27th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus target price of $67.60.

NYSE PF opened at $66.57 on Monday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.51 and a quick ratio of 0.62. Pinnacle Foods has a fifty-two week low of $52.25 and a fifty-two week high of $70.51. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 2.89 and a beta of 0.47.

Pinnacle Foods (NYSE:PF) last released its earnings results on Thursday, August 2nd. The company reported $0.59 earnings per share for the quarter, hitting the consensus estimate of $0.59. Pinnacle Foods had a return on equity of 13.96% and a net margin of 19.14%. The firm had revenue of $741.80 million during the quarter, compared to analysts’ expectations of $749.29 million. During the same period in the prior year, the company earned $0.53 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. analysts predict that Pinnacle Foods will post 2.9 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Tuesday, September 4th will be issued a $0.325 dividend. The ex-dividend date of this dividend is Friday, August 31st. This represents a $1.30 dividend on an annualized basis and a yield of 1.95%. Pinnacle Foods’s payout ratio is 50.98%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Stanley Laman Group Ltd. increased its holdings in Pinnacle Foods by 6.0% in the second quarter. Stanley Laman Group Ltd. now owns 14,471 shares of the company’s stock valued at $942,000 after purchasing an additional 821 shares during the period. Sumitomo Life Insurance Co. increased its holdings in Pinnacle Foods by 5.1% in the second quarter. Sumitomo Life Insurance Co. now owns 19,083 shares of the company’s stock valued at $1,242,000 after purchasing an additional 934 shares during the period. California Public Employees Retirement System increased its holdings in Pinnacle Foods by 0.4% in the second quarter. California Public Employees Retirement System now owns 285,219 shares of the company’s stock valued at $18,556,000 after purchasing an additional 1,039 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its holdings in Pinnacle Foods by 41.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,599 shares of the company’s stock valued at $195,000 after purchasing an additional 1,053 shares during the period. Finally, Stifel Financial Corp increased its holdings in Pinnacle Foods by 3.2% in the first quarter. Stifel Financial Corp now owns 34,701 shares of the company’s stock valued at $1,874,000 after purchasing an additional 1,063 shares during the period. Institutional investors and hedge funds own 94.57% of the company’s stock.

Pinnacle Foods Company Profile

Pinnacle Foods Inc manufactures, markets, and distributes branded convenience food products in North America. It operates through four segments: Frozen, Grocery, Boulder, and Specialty. The Frozen segment offers frozen vegetables, frozen complete bagged meals, frozen prepared seafood, frozen and refrigerated bagels, frozen pizza, and full-calorie single-serve frozen dinners and entrées under the Birds Eye, Birds Eye Voila!, Van de Kamp's, Mrs.

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Analyst Recommendations for Pinnacle Foods (NYSE:PF)

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