Pinnacle Foods, Inc. (NYSE:PF) announced its quarterly earnings data on Wednesday. The company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58, Bloomberg Earnings reports. Pinnacle Foods had a net margin of 5.82% and a return on equity of 14.47%. The company had revenue of $749.80 million during the quarter, compared to the consensus estimate of $753.10 million. During the same quarter last year, the firm posted $0.53 EPS. The company’s quarterly revenue was down 1.2% on a year-over-year basis.
Pinnacle Foods (NYSE PF) traded down 3.13% during midday trading on Thursday, reaching $53.78. 2,011,419 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $57.49 and a 200-day moving average of $59.23. Pinnacle Foods has a 12 month low of $46.36 and a 12 month high of $66.67. The stock has a market cap of $6.39 billion, a PE ratio of 35.04 and a beta of 0.33.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 9th. Shareholders of record on Tuesday, August 29th were issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 2.42%. This is a positive change from Pinnacle Foods’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, August 25th. Pinnacle Foods’s payout ratio is presently 84.97%.
Several analysts recently commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $67.00 target price (up previously from $66.00) on shares of Pinnacle Foods in a report on Tuesday, July 25th. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $68.00 target price (up previously from $65.00) on shares of Pinnacle Foods in a report on Wednesday, June 28th. BidaskClub raised shares of Pinnacle Foods from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Zacks Investment Research raised shares of Pinnacle Foods from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, UBS Group AG reaffirmed a “buy” rating and set a $65.00 target price on shares of Pinnacle Foods in a report on Monday, August 28th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $64.82.
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In other news, EVP Mark L. Schiller sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $59.37, for a total value of $2,968,500.00. Following the transaction, the executive vice president now owns 96,377 shares in the company, valued at $5,721,902.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mark L. Schiller sold 17,038 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $60.61, for a total transaction of $1,032,673.18. Following the completion of the transaction, the executive vice president now owns 74,832 shares in the company, valued at approximately $4,535,567.52. The disclosure for this sale can be found here. Insiders have sold 151,912 shares of company stock worth $9,037,020 over the last three months. Insiders own 1.34% of the company’s stock.
Pinnacle Foods Company Profile
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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