Pinnacle Foods, Inc. (NYSE:PF) had its target price dropped by research analysts at Credit Suisse Group from $64.00 to $60.00 in a research note issued to investors on Friday, October 27th. The brokerage presently has an “outperform” rating on the stock. Credit Suisse Group’s target price would suggest a potential upside of 10.66% from the stock’s current price.
Several other analysts have also recently issued reports on PF. BidaskClub cut shares of Pinnacle Foods from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $67.00 price target (up previously from $66.00) on shares of Pinnacle Foods in a report on Tuesday, July 25th. Zacks Investment Research raised shares of Pinnacle Foods from a “sell” rating to a “hold” rating in a report on Monday, July 31st. UBS AG reissued a “buy” rating and issued a $65.00 price target on shares of Pinnacle Foods in a report on Monday, August 28th. Finally, Buckingham Research cut their price target on shares of Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, October 27th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $64.25.
Pinnacle Foods (NYSE PF) opened at $54.22 on Friday. The company has a market cap of $6,398.31, a P/E ratio of 22.40, a P/E/G ratio of 2.26 and a beta of 0.31. Pinnacle Foods has a fifty-two week low of $46.36 and a fifty-two week high of $66.67. The company has a quick ratio of 0.81, a current ratio of 1.80 and a debt-to-equity ratio of 1.49.
Pinnacle Foods (NYSE:PF) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.58 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. Pinnacle Foods had a net margin of 5.65% and a return on equity of 14.63%. The company had revenue of $749.80 million during the quarter, compared to the consensus estimate of $753.10 million. During the same period last year, the firm earned $0.53 EPS. Pinnacle Foods’s revenue for the quarter was down 1.2% on a year-over-year basis. analysts predict that Pinnacle Foods will post 2.55 earnings per share for the current year.
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In related news, EVP Mark L. Schiller sold 17,038 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $60.61, for a total transaction of $1,032,673.18. Following the completion of the sale, the executive vice president now directly owns 74,832 shares in the company, valued at $4,535,567.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.34% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Pinnacle Foods by 6.6% during the second quarter. Vanguard Group Inc. now owns 10,334,808 shares of the company’s stock worth $613,888,000 after acquiring an additional 640,620 shares during the last quarter. Capital World Investors increased its stake in Pinnacle Foods by 5.9% in the 2nd quarter. Capital World Investors now owns 9,378,050 shares of the company’s stock worth $557,056,000 after buying an additional 525,000 shares during the period. BlackRock Inc. increased its stake in Pinnacle Foods by 10,669.1% in the 1st quarter. BlackRock Inc. now owns 5,246,808 shares of the company’s stock worth $303,633,000 after buying an additional 5,198,087 shares during the period. Victory Capital Management Inc. increased its stake in Pinnacle Foods by 11.8% in the 3rd quarter. Victory Capital Management Inc. now owns 3,226,031 shares of the company’s stock worth $184,433,000 after buying an additional 340,654 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Pinnacle Foods by 66.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,559,700 shares of the company’s stock worth $152,046,000 after buying an additional 1,021,200 shares during the period. Hedge funds and other institutional investors own 95.52% of the company’s stock.
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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