Pinnacle Foods (NYSE:PF) had its target price increased by Deutsche Bank from $61.00 to $66.00 in a report issued on Friday. Deutsche Bank currently has a buy rating on the stock.
A number of other equities analysts have also issued reports on PF. Credit Suisse Group set a $68.00 price target on Pinnacle Foods and gave the company a buy rating in a research note on Wednesday, April 25th. Piper Jaffray assumed coverage on Pinnacle Foods in a research note on Tuesday, March 13th. They set an overweight rating and a $64.00 price target for the company. Morgan Stanley decreased their price target on 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 reaffirmed 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 Pinnacle Foods and gave the company a buy rating in a research note on Friday, March 2nd. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Pinnacle Foods presently has a consensus rating of Buy and an average target price of $64.92.
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NYSE PF traded up $2.06 on Friday, reaching $62.88. 2,595,216 shares of the stock traded hands, compared to its average volume of 2,352,620. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.97 and a current ratio of 1.84. The firm has a market cap of $7,234.82, a P/E ratio of 24.66, a PEG ratio of 2.63 and a beta of 0.45. Pinnacle Foods has a 12 month low of $52.25 and a 12 month high of $66.67.
Pinnacle Foods (NYSE:PF) last issued its quarterly earnings results on Thursday, May 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.01. The firm had revenue of $778.83 million during the quarter, compared to analyst estimates of $767.94 million. Pinnacle Foods had a return on equity of 14.92% and a net margin of 17.93%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the company posted $0.50 EPS. research analysts predict that Pinnacle Foods will post 2.89 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 11th. Stockholders of record on Tuesday, February 27th were paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Monday, February 26th. Pinnacle Foods’s dividend payout ratio is presently 50.98%.
In related news, Director Muktesh Pant acquired 20,000 shares of Pinnacle Foods stock in a transaction dated Wednesday, March 7th. The stock was acquired at an average cost of $56.93 per share, with a total value of $1,138,600.00. Following the purchase, the director now directly owns 49,706 shares in the company, valued at approximately $2,829,762.58. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.38% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantitative Systematic Strategies LLC boosted its stake in shares of Pinnacle Foods by 98.1% during the 1st quarter. Quantitative Systematic Strategies LLC now owns 38,753 shares of the company’s stock worth $2,097,000 after acquiring an additional 19,191 shares in the last quarter. Swiss National Bank boosted its stake in shares of Pinnacle Foods by 2.3% during the 1st quarter. Swiss National Bank now owns 206,980 shares of the company’s stock worth $11,198,000 after acquiring an additional 4,700 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Pinnacle Foods by 4.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,038,973 shares of the company’s stock worth $110,308,000 after acquiring an additional 77,612 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Pinnacle Foods by 28.5% during the 1st quarter. Victory Capital Management Inc. now owns 1,484,609 shares of the company’s stock worth $80,318,000 after acquiring an additional 328,990 shares in the last quarter. Finally, Trexquant Investment LP boosted its position in shares of Pinnacle Foods by 187.7% in the first quarter. Trexquant Investment LP now owns 43,865 shares of the company’s stock worth $2,373,000 after buying an additional 28,620 shares during the period. 97.49% of the stock is owned by institutional investors and hedge funds.
About Pinnacle Foods
Pinnacle Foods Inc manufactures, markets, and distributes branded convenience food products in North America. It operates through four segments: Frozen, Grocery, Boulder, and Specialty. The Frozen segment offers frozen vegetables, frozen complete bagged meals, frozen prepared seafood, frozen and refrigerated bagels, frozen pizza, and full-calorie single-serve frozen dinners and entr茅es under the Birds Eye, Birds Eye Voila!, Van de Kamp's, Mrs.