AdvancePierre Foods Holdings Inc (APFH) Stock Rating Lowered by Wells Fargo & Co
AdvancePierre Foods Holdings Inc (NASDAQ:APFH) was downgraded by Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a note issued to investors on Tuesday, May 9th. They currently have a $40.00 price target on the stock. Wells Fargo & Co’s price target indicates a potential downside of 0.37% from the company’s current price.
APFH has been the topic of several other reports. Zacks Investment Research upgraded AdvancePierre Foods Holdings from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Wednesday, February 1st. BMO Capital Markets cut AdvancePierre Foods Holdings from an “outperform” rating to a “market perform” rating and increased their price target for the company from $34.00 to $40.00 in a report on Wednesday, April 26th. Finally, Barclays PLC reissued a “hold” rating and set a $33.00 price target on shares of AdvancePierre Foods Holdings in a report on Tuesday, March 14th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $32.00.
AdvancePierre Foods Holdings (NASDAQ:APFH) traded up 0.22% on Tuesday, hitting $40.24. The company had a trading volume of 36,139 shares. AdvancePierre Foods Holdings has a one year low of $22.99 and a one year high of $40.79. The stock has a 50 day moving average of $36.34 and a 200-day moving average of $30.30. The stock has a market capitalization of $3.15 billion and a PE ratio of 20.37.
AdvancePierre Foods Holdings (NASDAQ:APFH) last issued its earnings results on Wednesday, May 10th. The company reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $402.73 million for the quarter, compared to analysts’ expectations of $419.87 million. During the same quarter in the prior year, the business posted $0.34 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts anticipate that AdvancePierre Foods Holdings will post $1.34 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 25th. Investors of record on Thursday, May 18th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, May 16th. This represents a $0.64 dividend on an annualized basis and a yield of 1.59%.
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In other AdvancePierre Foods Holdings news, insider James L. Clough sold 12,328 shares of the stock in a transaction on Monday, March 6th. The stock was sold at an average price of $28.94, for a total value of $356,772.32. Following the completion of the sale, the insider now owns 558,818 shares in the company, valued at approximately $16,172,192.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider James L. Clough sold 12,020 shares of the firm’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $30.51, for a total value of $366,730.20. Following the transaction, the insider now owns 511,046 shares of the company’s stock, valued at approximately $15,592,013.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 462,494 shares of company stock worth $13,582,094.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can increased its stake in shares of AdvancePierre Foods Holdings by 131.8% in the first quarter. Great West Life Assurance Co. Can now owns 5,100 shares of the company’s stock valued at $158,000 after buying an additional 2,900 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of AdvancePierre Foods Holdings during the first quarter valued at about $200,000. Diversified Trust Co purchased a new stake in shares of AdvancePierre Foods Holdings during the first quarter valued at about $246,000. Laurion Capital Management LP purchased a new stake in shares of AdvancePierre Foods Holdings during the first quarter valued at about $249,000. Finally, Alambic Investment Management L.P. purchased a new stake in shares of AdvancePierre Foods Holdings during the first quarter valued at about $256,000.
About AdvancePierre Foods Holdings
AdvancePierre Foods Holdings, Inc is a producer and distributor of ready-to-eat sandwiches, sandwich components and other entrees and snacks. The Company operates through four segments. The Foodservice segment’s portfolio of products includes breakfast sandwiches, peanut butter and jelly sandwiches, Philly steaks, fully cooked hamburger-patties, country-fried steak, stuffed entrees and chicken tenders.
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