Mark A. Clouse Acquires 10,000 Shares of Pinnacle Foods Inc. (PF) Stock
Pinnacle Foods Inc. (NYSE:PF) CEO Mark A. Clouse purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The stock was acquired at an average cost of $47.64 per share, with a total value of $476,400.00. Following the purchase, the chief executive officer now directly owns 105,057 shares of the company’s stock, valued at $5,004,915.48. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
Pinnacle Foods Inc. (NYSE:PF) opened at 49.05 on Thursday. The stock’s 50 day moving average price is $50.31 and its 200 day moving average price is $47.74. The company has a market capitalization of $5.79 billion, a P/E ratio of 28.70 and a beta of 0.34. Pinnacle Foods Inc. has a one year low of $39.15 and a one year high of $52.79.
Pinnacle Foods (NYSE:PF) last released its earnings results on Thursday, October 27th. The company reported $0.53 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.53. The firm had revenue of $758.80 million for the quarter, compared to the consensus estimate of $773.54 million. Pinnacle Foods had a return on equity of 13.25% and a net margin of 6.76%. The company’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 EPS. Equities analysts anticipate that Pinnacle Foods Inc. will post $2.14 EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. LPL Financial LLC boosted its position in Pinnacle Foods by 26.3% in the third quarter. LPL Financial LLC now owns 8,756 shares of the company’s stock worth $442,000 after buying an additional 1,824 shares during the last quarter. Credit Suisse AG boosted its position in Pinnacle Foods by 381.0% in the third quarter. Credit Suisse AG now owns 1,796,035 shares of the company’s stock worth $90,107,000 after buying an additional 1,422,642 shares during the last quarter. Verition Fund Management LLC acquired a new position in Pinnacle Foods during the third quarter worth about $905,000. Cetera Investment Advisers acquired a new position in Pinnacle Foods during the third quarter worth about $275,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Pinnacle Foods during the third quarter worth about $7,194,000. Institutional investors own 99.76% of the company’s stock.
A number of analysts recently commented on the company. Deutsche Bank AG set a $48.00 price target on Pinnacle Foods and gave the stock a “hold” rating in a research note on Sunday, July 24th. DA Davidson raised their price target on Pinnacle Foods from $42.00 to $47.00 and gave the stock a “neutral” rating in a research note on Friday, July 29th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $56.00 price target (up previously from $54.00) on shares of Pinnacle Foods in a research note on Monday, August 1st. Rowe raised Pinnacle Foods from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Friday, July 29th. Finally, Stifel Nicolaus raised Pinnacle Foods from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Friday, July 29th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $52.27.
Pinnacle Foods Company Profile
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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