Pinnacle Foods Inc. (PF) Given Average Recommendation of “Buy” by Brokerages
Pinnacle Foods Inc. (NYSE:PF) has been given an average recommendation of “Buy” by the twelve research firms that are covering the stock. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $53.50.
A number of research firms recently weighed in on PF. Deutsche Bank AG reissued a “hold” rating on shares of Pinnacle Foods in a research report on Friday, October 21st. Zacks Investment Research lowered shares of Pinnacle Foods from a “buy” rating to a “hold” rating in a research report on Monday, October 17th.
Shares of Pinnacle Foods (NYSE:PF) traded down 1.37% on Wednesday, hitting $49.70. 666,025 shares of the company’s stock were exchanged. The firm has a market cap of $5.87 billion, a P/E ratio of 29.08 and a beta of 0.34. The stock’s 50 day moving average is $50.34 and its 200 day moving average is $48.19. Pinnacle Foods has a 12 month low of $39.15 and a 12 month high of $52.79.
Pinnacle Foods (NYSE:PF) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.53 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.53. The firm earned $758.80 million during the quarter, compared to analysts’ expectations of $773.54 million. Pinnacle Foods had a net margin of 6.76% and a return on equity of 13.25%. The business’s revenue was up 19.3% on a year-over-year basis. During the same period last year, the company earned $0.46 earnings per share. On average, equities analysts predict that Pinnacle Foods will post $2.14 earnings per share for the current year.
In other news, EVP Michael Kelley Maggs sold 5,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 55,951 shares of the company’s stock, valued at $2,803,145.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Christopher J. Boever sold 71,346 shares of the business’s stock in a transaction that occurred on Tuesday, September 6th. The shares were sold at an average price of $51.29, for a total transaction of $3,659,336.34. Following the completion of the sale, the executive vice president now directly owns 95,565 shares in the company, valued at approximately $4,901,528.85. The disclosure for this sale can be found here. 2.75% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of PF. New Jersey Better Educational Savings Trust acquired a new stake in Pinnacle Foods during the second quarter valued at about $648,000. Channing Capital Management LLC raised its stake in Pinnacle Foods by 11.9% in the second quarter. Channing Capital Management LLC now owns 556,280 shares of the company’s stock valued at $25,750,000 after buying an additional 59,345 shares during the period. Strs Ohio raised its stake in Pinnacle Foods by 19.5% in the second quarter. Strs Ohio now owns 490,000 shares of the company’s stock valued at $22,682,000 after buying an additional 80,000 shares during the period. Monarch Partners Asset Management LLC raised its stake in Pinnacle Foods by 22.4% in the second quarter. Monarch Partners Asset Management LLC now owns 239,163 shares of the company’s stock valued at $11,071,000 after buying an additional 43,700 shares during the period. Finally, Eagle Asset Management Inc. raised its stake in Pinnacle Foods by 1.2% in the third quarter. Eagle Asset Management Inc. now owns 581,276 shares of the company’s stock valued at $29,162,000 after buying an additional 7,131 shares during the period.
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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