Pinnacle Foods Inc (PF) Expected to Announce Earnings of $0.95 Per Share
Wall Street analysts forecast that Pinnacle Foods Inc (NYSE:PF) will report earnings per share of $0.95 for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Pinnacle Foods’ earnings, with the highest EPS estimate coming in at $0.99 and the lowest estimate coming in at $0.94. Pinnacle Foods reported earnings per share of $0.79 in the same quarter last year, which would suggest a positive year-over-year growth rate of 20.3%. The business is scheduled to report its next earnings report before the market opens on Thursday, February 22nd.
On average, analysts expect that Pinnacle Foods will report full-year earnings of $2.56 per share for the current fiscal year, with EPS estimates ranging from $2.55 to $2.61. For the next fiscal year, analysts expect that the company will report earnings of $2.79 per share, with EPS estimates ranging from $2.72 to $3.14. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Pinnacle Foods.
A number of brokerages have recently commented on PF. Zacks Investment Research raised shares of Pinnacle Foods from a “sell” rating to a “hold” rating in a report on Friday. JPMorgan Chase & Co. upped their price objective on shares of Pinnacle Foods from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Credit Suisse Group set a $67.00 price objective on shares of Pinnacle Foods and gave the company a “buy” rating in a research note on Wednesday, January 10th. Finally, Buckingham Research cut their price objective on shares of Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Pinnacle Foods has an average rating of “Buy” and an average price target of $64.91.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 11th. Stockholders of record on Tuesday, February 27th will be paid a $0.325 dividend. The ex-dividend date of this dividend is Monday, February 26th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 2.22%. Pinnacle Foods’s dividend payout ratio (DPR) is 87.84%.
Institutional investors have recently made changes to their positions in the company. TIAA CREF Investment Management LLC boosted its position in Pinnacle Foods by 2.1% during the 4th quarter. TIAA CREF Investment Management LLC now owns 3,930,817 shares of the company’s stock valued at $233,766,000 after buying an additional 79,668 shares during the period. Levin Capital Strategies L.P. boosted its position in Pinnacle Foods by 5.7% during the 4th quarter. Levin Capital Strategies L.P. now owns 3,900,551 shares of the company’s stock valued at $231,966,000 after buying an additional 209,845 shares during the period. Victory Capital Management Inc. boosted its position in Pinnacle Foods by 11.8% during the 3rd quarter. Victory Capital Management Inc. now owns 3,226,031 shares of the company’s stock valued at $184,433,000 after buying an additional 340,654 shares during the period. Allianz Asset Management GmbH boosted its position in Pinnacle Foods by 9.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 2,277,438 shares of the company’s stock valued at $130,201,000 after buying an additional 205,852 shares during the period. Finally, Eaton Vance Management boosted its position in Pinnacle Foods by 7.5% during the 4th quarter. Eaton Vance Management now owns 2,016,338 shares of the company’s stock valued at $119,912,000 after buying an additional 141,270 shares during the period. 92.79% of the stock is owned by 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 four segments: Frozen segment, the Grocery segment, the Boulder segment and the Specialty segment. Its products are sold through supermarkets, grocery wholesalers and distributors, mass merchandisers, super centers, convenience stores, dollar stores, drug stores and warehouse clubs in the United States and Canada, as well as in military channels and foodservice locations.
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