Pinnacle Foods (PF) Given Average Rating of “Buy” by Brokerages

Shares of Pinnacle Foods (NYSE:PF) have been given a consensus recommendation of “Buy” by the fourteen ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $64.36.

A number of equities analysts have issued reports on PF shares. Credit Suisse Group set a $67.00 price target on Pinnacle Foods and gave the company a “buy” rating in a research note on Wednesday, January 10th. Zacks Investment Research raised Pinnacle Foods from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Friday, March 9th. ValuEngine raised Pinnacle Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Royal Bank of Canada reissued a “buy” rating and set a $64.00 price objective on shares of Pinnacle Foods in a research note on Tuesday, April 3rd. Finally, Buckingham Research set a $62.00 price objective on Pinnacle Foods and gave the stock a “buy” rating in a research note on Friday, March 2nd.

In other Pinnacle Foods news, Director Muktesh Pant bought 20,000 shares of Pinnacle Foods stock in a transaction dated Wednesday, March 7th. The stock was bought at an average price of $56.93 per share, for a total transaction of $1,138,600.00. Following the completion of the acquisition, the director now directly owns 49,706 shares of the company’s stock, valued at $2,829,762.58. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.34% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC lifted its holdings in shares of Pinnacle Foods by 2.1% in the fourth quarter. TIAA CREF Investment Management LLC now owns 3,930,817 shares of the company’s stock valued at $233,766,000 after purchasing an additional 79,668 shares in the last quarter. Levin Capital Strategies L.P. lifted its holdings in shares of Pinnacle Foods by 5.7% in the fourth quarter. Levin Capital Strategies L.P. now owns 3,900,551 shares of the company’s stock valued at $231,966,000 after purchasing an additional 209,845 shares in the last quarter. Eaton Vance Management lifted its holdings in shares of Pinnacle Foods by 7.5% in the fourth quarter. Eaton Vance Management now owns 2,016,338 shares of the company’s stock valued at $119,912,000 after purchasing an additional 141,270 shares in the last quarter. Macquarie Group Ltd. lifted its holdings in shares of Pinnacle Foods by 4.3% in the fourth quarter. Macquarie Group Ltd. now owns 951,150 shares of the company’s stock valued at $56,565,000 after purchasing an additional 39,381 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its holdings in shares of Pinnacle Foods by 21.2% in the fourth quarter. Two Sigma Advisers LP now owns 916,346 shares of the company’s stock valued at $54,495,000 after purchasing an additional 160,306 shares in the last quarter. Institutional investors own 97.34% of the company’s stock.

NYSE PF traded down $0.01 on Wednesday, reaching $60.57. 1,555,219 shares of the stock traded hands, compared to its average volume of 1,791,737. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.97 and a current ratio of 1.84. The firm has a market cap of $7,211.00, a P/E ratio of 23.76, a PEG ratio of 2.63 and a beta of 0.47. Pinnacle Foods has a 12 month low of $52.25 and a 12 month high of $66.67.

Pinnacle Foods (NYSE:PF) last issued its quarterly earnings results on Thursday, March 1st. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.01). The firm had revenue of $883.51 million for the quarter, compared to the consensus estimate of $896.53 million. Pinnacle Foods had a net margin of 16.92% and a return on equity of 14.75%. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 earnings per share. research analysts predict that Pinnacle Foods will post 2.88 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 11th. Stockholders of record on Tuesday, February 27th were issued a $0.325 dividend. The ex-dividend date of this dividend was Monday, February 26th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 2.15%. Pinnacle Foods’s payout ratio is currently 50.98%.

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Pinnacle Foods Company Profile

Pinnacle Foods Inc manufactures, markets, and distributes branded convenience food products in North America. It operates through four segments: Frozen, Grocery, Boulder, and Specialty. The Frozen segment offers frozen vegetables, frozen complete bagged meals, frozen prepared seafood, frozen and refrigerated bagels, frozen pizza, and full-calorie single-serve frozen dinners and entrées under the Birds Eye, Birds Eye Voila!, Van de Kamp's, Mrs.

Analyst Recommendations for Pinnacle Foods (NYSE:PF)

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