Pinnacle Foods, Inc. (NYSE:PF) – Equities research analysts at William Blair lowered their Q3 2017 earnings per share estimates for shares of Pinnacle Foods in a research note issued to investors on Thursday. William Blair analyst J. Andersen now expects that the company will post earnings per share of $0.57 for the quarter, down from their prior estimate of $0.62.
PF has been the topic of several other reports. Morgan Stanley raised Pinnacle Foods from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $58.00 to $63.00 in a research report on Monday, April 10th. Jefferies Group LLC initiated coverage on Pinnacle Foods in a research report on Tuesday, April 11th. They set a “buy” rating and a $67.00 price target on the stock. Royal Bank Of Canada reissued a “buy” rating and set a $66.00 price target on shares of Pinnacle Foods in a research report on Friday, April 28th. BidaskClub lowered Pinnacle Foods from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. Finally, 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. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Pinnacle Foods presently has an average rating of “Buy” and a consensus target price of $64.36.
Shares of Pinnacle Foods (NYSE PF) opened at 59.38 on Monday. The firm has a market capitalization of $7.05 billion, a price-to-earnings ratio of 38.68 and a beta of 0.35. Pinnacle Foods has a 52 week low of $46.36 and a 52 week high of $66.67. The firm has a 50-day moving average price of $60.25 and a 200-day moving average price of $58.22.
Pinnacle Foods (NYSE:PF) last issued its quarterly earnings results on Thursday, July 27th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Pinnacle Foods had a return on equity of 14.47% and a net margin of 5.82%. The firm had revenue of $744.61 million for the quarter, compared to analyst estimates of $764.41 million. During the same period last year, the company earned $0.42 EPS. The firm’s quarterly revenue was down 1.6% on a year-over-year basis.
The company also recently announced a quarterly dividend, which was paid on Friday, July 7th. Shareholders of record on Tuesday, June 6th were given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 1.92%. The ex-dividend date was Friday, June 2nd. Pinnacle Foods’s payout ratio is currently 74.51%.
A number of hedge funds and other institutional investors have recently modified their holdings of PF. Invictus RG purchased a new position in shares of Pinnacle Foods during the first quarter valued at $439,000. Quantitative Systematic Strategies LLC purchased a new position in shares of Pinnacle Foods during the first quarter valued at $1,874,000. Karp Capital Management Corp purchased a new position in shares of Pinnacle Foods during the first quarter valued at $2,311,000. FMR LLC raised its position in shares of Pinnacle Foods by 45.7% in the first quarter. FMR LLC now owns 339,895 shares of the company’s stock valued at $19,670,000 after buying an additional 106,623 shares during the last quarter. Finally, World Asset Management Inc raised its position in shares of Pinnacle Foods by 2.8% in the first quarter. World Asset Management Inc now owns 4,250 shares of the company’s stock valued at $246,000 after buying an additional 116 shares during the last quarter. 96.91% of the stock is currently owned by institutional investors.
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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