Pinnacle Foods, Inc. (NYSE:PF) CFO Craig D. Steeneck sold 33,095 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $59.61, for a total value of $1,972,792.95. Following the transaction, the chief financial officer now owns 204,364 shares in the company, valued at approximately $12,182,138.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Pinnacle Foods, Inc. (PF) traded up 0.88% on Friday, reaching $60.65. The company’s stock had a trading volume of 1,241,776 shares. The company has a market cap of $7.21 billion, a P/E ratio of 39.51 and a beta of 0.34. Pinnacle Foods, Inc. has a 52-week low of $46.36 and a 52-week high of $66.67. The firm’s 50-day moving average price is $59.70 and its 200 day moving average price is $58.75.
Pinnacle Foods (NYSE:PF) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.01. Pinnacle Foods had a return on equity of 14.47% and a net margin of 5.82%. The company had revenue of $744.61 million during the quarter, compared to the consensus estimate of $764.41 million. During the same period last year, the business posted $0.42 earnings per share. Pinnacle Foods’s revenue was down 1.6% on a year-over-year basis. Equities analysts anticipate that Pinnacle Foods, Inc. will post $2.56 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 9th. Shareholders of record on Tuesday, August 29th will be issued a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 2.14%. This is a positive change from Pinnacle Foods’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, August 25th. Pinnacle Foods’s dividend payout ratio is 74.51%.
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A number of institutional investors have recently made changes to their positions in PF. Vanguard Group Inc. raised its position in shares of Pinnacle Foods by 6.6% in the second quarter. Vanguard Group Inc. now owns 10,334,808 shares of the company’s stock valued at $613,888,000 after buying an additional 640,620 shares during the period. Capital World Investors raised its position in shares of Pinnacle Foods by 5.9% in the second quarter. Capital World Investors now owns 9,378,050 shares of the company’s stock valued at $557,056,000 after buying an additional 525,000 shares during the period. BlackRock Inc. raised its position in shares of Pinnacle Foods by 10,669.1% in the first quarter. BlackRock Inc. now owns 5,246,808 shares of the company’s stock valued at $303,633,000 after buying an additional 5,198,087 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Pinnacle Foods by 8.2% in the first quarter. TIAA CREF Investment Management LLC now owns 4,222,339 shares of the company’s stock valued at $244,347,000 after buying an additional 320,832 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Pinnacle Foods by 66.4% in the second quarter. Renaissance Technologies LLC now owns 2,559,700 shares of the company’s stock valued at $152,046,000 after buying an additional 1,021,200 shares during the period. 94.38% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on PF shares. BidaskClub cut Pinnacle Foods from a “strong-buy” rating to a “buy” rating in a report on Monday, July 3rd. Deutsche Bank AG raised their price target on Pinnacle Foods from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $66.00 price target on shares of Pinnacle Foods in a research report on Friday, April 28th. Zacks Investment Research raised Pinnacle Foods from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Tuesday, June 27th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $63.00 price target on shares of Pinnacle Foods in a research report on Tuesday, June 27th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $64.36.
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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