Somewhat Positive Press Coverage Somewhat Unlikely to Impact Pinnacle Foods (PF) Share Price
Media headlines about Pinnacle Foods (NYSE:PF) have been trending somewhat positive this week, according to Accern. Accern rates the sentiment of media coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Pinnacle Foods earned a news impact score of 0.12 on Accern’s scale. Accern also gave press coverage about the company an impact score of 46.2882324716151 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the next several days.
A number of analysts have recently issued reports on PF shares. BidaskClub lowered Pinnacle Foods from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $67.00 price target (up from $66.00) on shares of Pinnacle Foods in a research note on Tuesday, July 25th. UBS AG reaffirmed a “buy” rating and issued a $65.00 price target on shares of Pinnacle Foods in a research note on Monday, August 28th. Zacks Investment Research raised Pinnacle Foods from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $68.00 price target (up from $65.00) on shares of Pinnacle Foods in a research note on Wednesday, June 28th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $65.36.
Pinnacle Foods (NYSE PF) opened at 57.17 on Friday. The company’s 50-day moving average price is $59.51 and its 200-day moving average price is $59.45. The stock has a market cap of $6.79 billion, a P/E ratio of 37.24 and a beta of 0.35. Pinnacle Foods has a 12 month low of $46.36 and a 12 month high of $66.67.
Pinnacle Foods (NYSE:PF) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. The business had revenue of $744.61 million for the quarter, compared to analysts’ expectations of $764.41 million. Pinnacle Foods had a return on equity of 14.47% and a net margin of 5.82%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. Equities analysts forecast that Pinnacle Foods will post $2.56 earnings per share for the current year.
The business also recently announced 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. This represents a $1.30 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Friday, August 25th. This is a boost from Pinnacle Foods’s previous quarterly dividend of $0.29. Pinnacle Foods’s dividend payout ratio is 84.97%.
In other Pinnacle Foods news, EVP Mark L. Schiller sold 17,038 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $60.61, for a total transaction of $1,032,673.18. Following the sale, the executive vice president now owns 74,832 shares in the company, valued at approximately $4,535,567.52. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark L. Schiller sold 50,000 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $59.37, for a total value of $2,968,500.00. Following the sale, the executive vice president now owns 96,377 shares in the company, valued at approximately $5,721,902.49. The disclosure for this sale can be found here. In the last quarter, insiders have sold 151,912 shares of company stock worth $9,037,020. 1.34% of the stock is owned by insiders.
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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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