Pinnacle Foods Inc. (NYSE:PF) EVP Michael Kelley Maggs sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $50.10, for a total value of $250,500.00. Following the sale, the executive vice president now directly owns 55,951 shares in the company, valued at approximately $2,803,145.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Michael Kelley Maggs also recently made the following trade(s):
- On Monday, August 1st, Michael Kelley Maggs sold 5,000 shares of Pinnacle Foods stock. The stock was sold at an average price of $50.15, for a total value of $250,750.00.
Pinnacle Foods Inc. (NYSE:PF) opened at 49.68 on Friday. The firm has a 50-day moving average price of $50.35 and a 200-day moving average price of $46.52. The company has a market capitalization of $5.86 billion, a P/E ratio of 29.59 and a beta of 0.35. Pinnacle Foods Inc. has a 1-year low of $39.15 and a 1-year high of $52.00.
Pinnacle Foods (NYSE:PF) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.03. The company had revenue of $756.40 million for the quarter, compared to the consensus estimate of $754.89 million. Pinnacle Foods had a return on equity of 13.01% and a net margin of 6.90%. The firm’s revenue was up 19.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 EPS. On average, analysts forecast that Pinnacle Foods Inc. will post $2.14 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Stockholders of record on Tuesday, August 30th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.29%. This is an increase from Pinnacle Foods’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, August 26th. Pinnacle Foods’s payout ratio is currently 67.86%.
A number of equities research analysts have recently commented on PF shares. Stifel Nicolaus raised Pinnacle Foods from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Friday, July 29th. Rowe raised Pinnacle Foods from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Friday, July 29th. RBC Capital Markets reaffirmed an “outperform” rating and set a $56.00 price target (up previously from $54.00) on shares of Pinnacle Foods in a research report on Monday, August 1st. Zacks Investment Research upgraded Pinnacle Foods from a “hold” rating to a “buy” rating and set a $54.00 price objective for the company in a report on Wednesday, July 27th. Finally, BMO Capital Markets reiterated a “top pick” rating and set a $56.00 price objective (up from $50.00) on shares of Pinnacle Foods in a report on Wednesday, July 13th. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Pinnacle Foods presently has an average rating of “Buy” and an average target price of $52.27.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Financial Architects Inc increased its position in shares of Pinnacle Foods by 425.3% in the second quarter. Financial Architects Inc now owns 3,005 shares of the company’s stock worth $139,000 after buying an additional 2,433 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Pinnacle Foods by 0.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 3,417 shares of the company’s stock worth $158,000 after buying an additional 19 shares in the last quarter. FNY Managed Accounts LLC increased its position in shares of Pinnacle Foods by 3.9% in the second quarter. FNY Managed Accounts LLC now owns 3,600 shares of the company’s stock worth $167,000 after buying an additional 136 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Pinnacle Foods by 506.9% in the second quarter. Pacer Advisors Inc. now owns 3,672 shares of the company’s stock worth $170,000 after buying an additional 3,067 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of Pinnacle Foods by 5.3% in the second quarter. State of Alaska Department of Revenue now owns 4,511 shares of the company’s stock worth $208,000 after buying an additional 227 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.
Pinnacle Foods Company Profile
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America. The Company operates through three segments: the Birds Eye Frozen segment, the Duncan Hines Grocery segment and the Specialty Foods segment. The Birds Eye Frozen segment manages its brands in the United States retail frozen vegetables (Birds Eye), frozen complete bagged meals (Birds Eye Voila!), and frozen seafood (Van de Kamp’s and Mrs.
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