Insider Selling: Pinnacle Foods Inc. (PF) CFO Sells $1,306,000.00 in Stock
Pinnacle Foods Inc. (NYSE:PF) CFO Craig D. Steeneck sold 25,000 shares of Pinnacle Foods stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $52.24, for a total transaction of $1,306,000.00. Following the transaction, the chief financial officer now owns 202,014 shares in the company, valued at $10,553,211.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of Pinnacle Foods Inc. (NYSE:PF) opened at 47.79 on Monday. Pinnacle Foods Inc. has a 1-year low of $39.15 and a 1-year high of $52.79. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 27.96 and a beta of 0.34. The company has a 50 day moving average of $50.43 and a 200 day moving average of $47.60.
Pinnacle Foods (NYSE:PF) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.53 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. Pinnacle Foods had a net margin of 6.76% and a return on equity of 13.25%. The business 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. Pinnacle Foods’s revenue was up 19.3% compared to the same quarter last year. On average, equities analysts forecast that Pinnacle Foods Inc. will post $2.14 earnings per share for the current fiscal year.
PF has been the topic of several research analyst reports. Deutsche Bank AG set a $48.00 price objective on shares of Pinnacle Foods and gave the stock a “hold” rating in a research report on Sunday, July 24th. Zacks Investment Research upgraded shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a report on Wednesday, July 27th. Stifel Nicolaus upgraded shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, July 29th. DA Davidson boosted their price target on shares of Pinnacle Foods from $42.00 to $47.00 and gave the company a “neutral” rating in a report on Friday, July 29th. Finally, Rowe upgraded shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Friday, July 29th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $52.27.
A number of institutional investors have recently made changes to their positions in PF. SG Americas Securities LLC acquired a new position in shares of Pinnacle Foods during the third quarter valued at $136,000. Financial Architects Inc raised its stake in Pinnacle Foods by 425.3% in the second quarter. Financial Architects Inc now owns 3,005 shares of the company’s stock valued at $139,000 after buying an additional 2,433 shares during the period. Metropolitan Life Insurance Co. NY raised its stake 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 valued at $158,000 after buying an additional 19 shares during the period. FNY Managed Accounts LLC raised its stake in Pinnacle Foods by 3.9% in the second quarter. FNY Managed Accounts LLC now owns 3,600 shares of the company’s stock valued at $167,000 after buying an additional 136 shares during the period. Finally, Pacer Advisors Inc. raised its stake in Pinnacle Foods by 506.9% in the second quarter. Pacer Advisors Inc. now owns 3,672 shares of the company’s stock valued at $170,000 after buying an additional 3,067 shares during the period. Institutional investors and hedge funds own 99.76% of the company’s stock.
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.
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