American Century Companies Inc. lessened its position in shares of Pinnacle Foods, Inc. (NYSE:PF) by 0.6% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 34,676 shares of the company’s stock after selling 194 shares during the period. American Century Companies Inc.’s holdings in Pinnacle Foods were worth $2,060,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prudential Financial Inc. grew its holdings in Pinnacle Foods by 27.9% during the 1st quarter. Prudential Financial Inc. now owns 9,620 shares of the company’s stock worth $557,000 after acquiring an additional 2,100 shares in the last quarter. Invictus RG acquired a new position in Pinnacle Foods during the 1st quarter worth approximately $439,000. FMR LLC grew its holdings in Pinnacle Foods by 45.7% during the 1st quarter. FMR LLC now owns 339,895 shares of the company’s stock worth $19,670,000 after acquiring an additional 106,623 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Pinnacle Foods by 13.2% during the 1st quarter. Macquarie Group Ltd. now owns 946,301 shares of the company’s stock worth $54,762,000 after acquiring an additional 110,646 shares in the last quarter. Finally, Karp Capital Management Corp acquired a new position in Pinnacle Foods during the 1st quarter worth approximately $2,311,000. Institutional investors own 95.41% of the company’s stock.
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Pinnacle Foods, Inc. (NYSE:PF) opened at 58.51 on Friday. Pinnacle Foods, Inc. has a one year low of $46.36 and a one year high of $66.67. The stock has a 50 day moving average of $59.60 and a 200 day moving average of $59.39. The firm has a market cap of $6.95 billion, a PE ratio of 38.11 and a beta of 0.35.
Pinnacle Foods (NYSE:PF) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Pinnacle Foods had a net margin of 5.82% and a return on equity of 14.47%. The business had revenue of $744.61 million during the quarter, compared to the consensus estimate of $764.41 million. During the same quarter last year, the company earned $0.42 earnings per share. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts forecast that Pinnacle Foods, Inc. will post $2.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 9th. Stockholders of record on Tuesday, August 29th will be given a dividend of $0.325 per share. The ex-dividend date is Friday, August 25th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 2.22%. This is an increase from Pinnacle Foods’s previous quarterly dividend of $0.29. Pinnacle Foods’s dividend payout ratio (DPR) is presently 84.97%.
In other Pinnacle Foods news, EVP Mark L. Schiller sold 50,000 shares of Pinnacle Foods stock in a transaction on 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 of the company’s stock, valued at $5,721,902.49. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Michael J. Barkley sold 24,962 shares of Pinnacle Foods 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 completion of the transaction, the executive vice president now directly owns 17,802 shares of the company’s stock, valued at approximately $1,055,658.60. The disclosure for this sale can be found here. Insiders have sold 151,912 shares of company stock valued at $9,037,020 in the last three months. Corporate insiders own 1.34% of the company’s stock.
PF has been the subject of several analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $67.00 price target (up previously from $66.00) on shares of Pinnacle Foods in a report on Tuesday, July 25th. BMO Capital Markets restated a “buy” rating and issued a $63.00 target price on shares of Pinnacle Foods in a report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a report on Tuesday, June 27th. BidaskClub cut shares of Pinnacle Foods from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, UBS AG restated a “buy” rating and issued a $65.00 target price on shares of Pinnacle Foods in a report on Monday, August 28th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Pinnacle Foods currently has an average rating of “Buy” and a consensus price target of $65.36.
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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