Pinnacle Foods, Inc. (NYSE:PF) issued its quarterly earnings data on Thursday, July 27th. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.01, Briefing.com reports. The business had revenue of $744.61 million during the quarter, compared to the consensus estimate of $764.41 million. Pinnacle Foods had a net margin of 5.82% and a return on equity of 14.47%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. Pinnacle Foods updated its FY17 guidance to $2.55-2.60 EPS.
Shares of Pinnacle Foods (NYSE PF) traded down 0.24% during trading on Tuesday, reaching $59.35. 210,387 shares of the company’s stock traded hands. Pinnacle Foods has a 52-week low of $46.36 and a 52-week high of $66.67. The company’s 50-day moving average is $60.21 and its 200 day moving average is $58.27. The company has a market cap of $7.05 billion, a price-to-earnings ratio of 38.66 and a beta of 0.34.
In other news, EVP Michael J. Barkley sold 24,962 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $59.30, for a total transaction of $1,480,246.60. Following the transaction, the executive vice president now owns 17,802 shares in the company, valued at $1,055,658.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mark L. Schiller sold 50,000 shares of Pinnacle Foods stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 96,377 shares in the company, valued at approximately $5,721,902.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,739 shares of company stock worth $7,996,311. Insiders own 1.34% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Pinnacle Foods by 4.9% in the first quarter. Vanguard Group Inc. now owns 9,694,188 shares of the company’s stock valued at $561,003,000 after buying an additional 451,875 shares during the period. BlackRock Inc. raised its position in Pinnacle Foods by 10,669.1% in the first quarter. BlackRock Inc. now owns 5,246,808 shares of the company’s stock valued at $303,633,000 after buying an additional 5,198,087 shares during the period. TIAA CREF Investment Management LLC raised its position in Pinnacle Foods by 8.2% in the first quarter. TIAA CREF Investment Management LLC now owns 4,222,339 shares of the company’s stock valued at $244,347,000 after buying an additional 320,832 shares during the period. Teachers Advisors LLC raised its position in Pinnacle Foods by 9.4% in the fourth quarter. Teachers Advisors LLC now owns 2,866,242 shares of the company’s stock valued at $153,201,000 after buying an additional 245,114 shares during the period. Finally, OppenheimerFunds Inc. raised its position in Pinnacle Foods by 5.0% in the first quarter. OppenheimerFunds Inc. now owns 2,243,595 shares of the company’s stock valued at $129,837,000 after buying an additional 106,737 shares during the period. Institutional investors own 97.00% of the company’s stock.
PF has been the subject of several research reports. BMO Capital Markets reissued a “buy” rating and issued a $63.00 price objective on shares of Pinnacle Foods in a research note on Tuesday, June 27th. Morgan Stanley raised shares of Pinnacle Foods from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $58.00 to $63.00 in a research note on Monday, April 10th. Deutsche Bank AG increased their price objective on shares of Pinnacle Foods from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Royal Bank Of Canada reissued a “buy” rating and issued a $66.00 price objective on shares of Pinnacle Foods in a research note on Friday, April 28th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $65.00 price objective (up previously from $62.00) on shares of Pinnacle Foods in a research note on Sunday, April 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $64.36.
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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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