Pinnacle Foods Inc. (NYSE:PF) EVP Michael Kelley Maggs sold 5,000 shares of the stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $50.10, for a total value of $250,500.00. Following the transaction, the executive vice president now directly owns 55,951 shares of the company’s stock, valued at $2,803,145.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Michael Kelley Maggs also recently made the following trade(s):

  • On Monday, August 1st, Michael Kelley Maggs sold 5,000 shares of Pinnacle Foods stock. The shares were sold at an average price of $50.15, for a total value of $250,750.00.

Shares of Pinnacle Foods Inc. (NYSE:PF) opened at 49.71 on Thursday. Pinnacle Foods Inc. has a one year low of $39.15 and a one year high of $52.00. The company’s 50 day moving average price is $50.35 and its 200 day moving average price is $46.50. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 29.61 and a beta of 0.35.

Pinnacle Foods (NYSE:PF) last announced its earnings results on Thursday, July 28th. The company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.03. The firm earned $756.40 million during the quarter, compared to analyst estimates of $754.89 million. Pinnacle Foods had a net margin of 6.90% and a return on equity of 13.01%. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.36 EPS. On average, analysts expect that Pinnacle Foods Inc. will post $2.14 earnings per share for the current fiscal year.

Insider Buying and Selling by Quarter for Pinnacle Foods (NYSE:PF)

The business also recently announced a quarterly dividend, which will be paid on Monday, October 10th. Investors of record on Tuesday, August 30th will be paid a $0.285 dividend. The ex-dividend date is Friday, August 26th. This is a positive change from Pinnacle Foods’s previous quarterly dividend of $0.26. This represents a $1.14 dividend on an annualized basis and a yield of 2.29%. Pinnacle Foods’s dividend payout ratio is presently 67.86%.

Several equities research analysts have recently weighed in on the company. Goldman Sachs Group Inc. raised Pinnacle Foods from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $48.00 to $57.00 in a research note on Tuesday, July 12th. BMO Capital Markets reissued a “top pick” rating and set a $56.00 price objective (up from $50.00) on shares of Pinnacle Foods in a research note on Wednesday, July 13th. Stifel Nicolaus raised Pinnacle Foods from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Friday, July 29th. Zacks Investment Research raised Pinnacle Foods from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a research note on Wednesday, July 27th. Finally, Rowe raised Pinnacle Foods from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Friday, July 29th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $52.27.

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Pinnacle Foods by 4.0% in the second quarter. Vanguard Group Inc. now owns 8,432,653 shares of the company’s stock worth $390,347,000 after buying an additional 326,219 shares during the last quarter. RS Investment Management Co. LLC raised its position in shares of Pinnacle Foods by 2.2% in the second quarter. RS Investment Management Co. LLC now owns 5,031,313 shares of the company’s stock worth $232,899,000 after buying an additional 105,936 shares during the last quarter. Levin Capital Strategies L.P. raised its position in shares of Pinnacle Foods by 8.1% in the second quarter. Levin Capital Strategies L.P. now owns 4,595,933 shares of the company’s stock worth $212,746,000 after buying an additional 345,987 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Pinnacle Foods by 4.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,824,763 shares of the company’s stock worth $130,739,000 after buying an additional 114,333 shares during the last quarter. Finally, Systematic Financial Management LP raised its position in shares of Pinnacle Foods by 5.2% in the second quarter. Systematic Financial Management LP now owns 2,421,791 shares of the company’s stock worth $112,104,000 after buying an additional 120,366 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

About Pinnacle Foods

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.

5 Day Chart for NYSE:PF

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