$765.23 Million in Sales Expected for Pinnacle Foods (PF) This Quarter

Wall Street brokerages expect Pinnacle Foods (NYSE:PF) to post sales of $765.23 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Pinnacle Foods’ earnings, with the lowest sales estimate coming in at $753.58 million and the highest estimate coming in at $779.00 million. Pinnacle Foods reported sales of $766.07 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 0.1%. The company is expected to announce its next quarterly earnings report on Thursday, April 26th.

On average, analysts expect that Pinnacle Foods will report full-year sales of $3.13 billion for the current financial year, with estimates ranging from $3.10 billion to $3.19 billion. For the next financial year, analysts anticipate that the company will post sales of $3.17 billion per share, with estimates ranging from $3.09 billion to $3.21 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Pinnacle Foods.

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Pinnacle Foods (NYSE:PF) last announced its earnings results on Thursday, March 1st. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). Pinnacle Foods had a net margin of 16.92% and a return on equity of 14.75%. The firm had revenue of $883.51 million for the quarter, compared to analyst estimates of $896.53 million. During the same period last year, the firm earned $0.79 earnings per share. Pinnacle Foods’s revenue for the quarter was up 2.9% compared to the same quarter last year.

PF has been the topic of several research analyst reports. Credit Suisse Group set a $67.00 price target on shares of Pinnacle Foods and gave the company a “buy” rating in a report on Wednesday, January 10th. Piper Jaffray initiated coverage on shares of Pinnacle Foods in a report on Tuesday, March 13th. They set an “overweight” rating and a $64.00 price target on the stock. Zacks Investment Research upgraded shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Friday, March 9th. ValuEngine upgraded shares of Pinnacle Foods from a “hold” rating to a “buy” rating in a report on Wednesday, March 7th. Finally, JPMorgan Chase boosted their price target on shares of Pinnacle Foods from $63.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, February 13th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $64.33.

NYSE:PF traded up $0.82 during trading hours on Friday, hitting $56.67. 523,982 shares of the stock traded hands, compared to its average volume of 1,653,379. The company has a quick ratio of 0.97, a current ratio of 1.84 and a debt-to-equity ratio of 1.23. Pinnacle Foods has a fifty-two week low of $52.25 and a fifty-two week high of $66.67. The company has a market cap of $6,647.97, a P/E ratio of 21.90, a price-to-earnings-growth ratio of 2.41 and a beta of 0.47.

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 11th. Shareholders of record on Tuesday, February 27th were issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Monday, February 26th. Pinnacle Foods’s dividend payout ratio (DPR) is 50.98%.

In other news, Director Muktesh Pant purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, March 7th. The stock was bought at an average cost 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 filing with the SEC, which is available through the SEC website. 1.34% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Assetmark Inc. raised its position in shares of Pinnacle Foods by 476.8% during the fourth quarter. Assetmark Inc. now owns 1,840 shares of the company’s stock valued at $109,000 after buying an additional 1,521 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of Pinnacle Foods during the fourth quarter valued at about $133,000. American International Group Inc. acquired a new position in shares of Pinnacle Foods during the fourth quarter valued at about $147,000. Fortaleza Asset Management Inc. acquired a new position in shares of Pinnacle Foods during the fourth quarter valued at about $166,000. Finally, Miles Capital Inc. acquired a new position in shares of Pinnacle Foods during the fourth quarter valued at about $204,000. Institutional investors own 96.93% of the company’s stock.

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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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Earnings History and Estimates for Pinnacle Foods (NYSE:PF)

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