Pinnacle Foods (NYSE:PF) Director Muktesh Pant bought 20,000 shares of the company’s stock in a transaction on Wednesday, March 7th. The stock was bought at an average cost of $56.93 per share, with a total value of $1,138,600.00. Following the completion of the purchase, the director now owns 49,706 shares of the company’s stock, valued at approximately $2,829,762.58. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of PF traded down $1.25 on Monday, reaching $52.85. 896,675 shares of the company’s stock were exchanged, compared to its average volume of 1,696,171. Pinnacle Foods has a 12 month low of $52.25 and a 12 month high of $66.67. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.84 and a quick ratio of 0.97. The company has a market cap of $6,439.66, a price-to-earnings ratio of 21.22, a price-to-earnings-growth ratio of 2.33 and a beta of 0.47.
Pinnacle Foods (NYSE:PF) last issued its earnings results on Thursday, March 1st. The company reported $0.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.01). Pinnacle Foods had a net margin of 16.92% and a return on equity of 14.75%. The firm had revenue of $883.51 million during the quarter, compared to the consensus estimate of $896.53 million. During the same period in the previous year, the company posted $0.79 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. analysts expect that Pinnacle Foods will post 2.9 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 11th. Shareholders of record on Tuesday, February 27th will be paid a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 2.46%. The ex-dividend date is Monday, February 26th. Pinnacle Foods’s payout ratio is presently 50.98%.
A number of equities analysts have weighed in on the stock. Piper Jaffray assumed coverage on shares of Pinnacle Foods in a research note on Tuesday, March 13th. They issued an “overweight” rating and a $64.00 target price for the company. Credit Suisse Group set a $67.00 price target on shares of Pinnacle Foods and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Morgan Stanley dropped their price target on shares of Pinnacle Foods from $66.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, March 2nd. Royal Bank of Canada reissued a “buy” rating on shares of Pinnacle Foods in a research note on Friday, March 2nd. Finally, Buckingham Research set a $62.00 price target on shares of Pinnacle Foods and gave the stock a “buy” rating in a research note on Friday, March 2nd. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Pinnacle Foods has a consensus rating of “Buy” and a consensus target price of $64.58.
Large investors have recently modified their holdings of the business. Assetmark Inc. boosted its holdings in shares of Pinnacle Foods by 476.8% in the fourth quarter. Assetmark Inc. now owns 1,840 shares of the company’s stock valued at $109,000 after buying an additional 1,521 shares during the period. Cerebellum GP LLC acquired a new position in shares of Pinnacle Foods in the fourth quarter valued at approximately $133,000. American International Group Inc. acquired a new position in shares of Pinnacle Foods in the fourth quarter valued at approximately $147,000. Fortaleza Asset Management Inc. acquired a new position in shares of Pinnacle Foods in the fourth quarter valued at approximately $166,000. Finally, Miles Capital Inc. acquired a new position in shares of Pinnacle Foods in the fourth quarter valued at approximately $204,000. 96.93% of the stock is owned by hedge funds and other institutional investors.
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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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