Pinnacle Foods Inc (NYSE:PF) – Equities researchers at Piper Jaffray Companies boosted their FY2018 EPS estimates for shares of Pinnacle Foods in a research report issued on Monday, September 24th. Piper Jaffray Companies analyst M. Lavery now anticipates that the company will earn $2.92 per share for the year, up from their prior forecast of $2.91. Piper Jaffray Companies currently has a “Neutral” rating and a $68.00 target price on the stock. Piper Jaffray Companies also issued estimates for Pinnacle Foods’ Q4 2019 earnings at $1.17 EPS.
Pinnacle Foods (NYSE:PF) last announced its quarterly earnings results on Thursday, August 2nd. The company reported $0.59 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.59. The firm had revenue of $741.80 million during the quarter, compared to the consensus estimate of $749.29 million. Pinnacle Foods had a return on equity of 13.96% and a net margin of 19.14%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 earnings per share.
Shares of PF opened at $66.16 on Thursday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.51 and a quick ratio of 0.62. The company has a market capitalization of $7.89 billion, a P/E ratio of 24.71, a price-to-earnings-growth ratio of 2.85 and a beta of 0.47. Pinnacle Foods has a 52-week low of $52.25 and a 52-week high of $70.51.
Hedge funds have recently bought and sold shares of the company. Alpine Associates Management Inc. lifted its holdings in shares of Pinnacle Foods by 1,924.2% during the second quarter. Alpine Associates Management Inc. now owns 1,732,341 shares of the company’s stock worth $113,815,000 after purchasing an additional 1,646,761 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in shares of Pinnacle Foods during the second quarter worth $65,163,000. Morgan Stanley lifted its holdings in shares of Pinnacle Foods by 165.0% during the second quarter. Morgan Stanley now owns 1,189,139 shares of the company’s stock worth $77,364,000 after purchasing an additional 740,424 shares during the period. Water Island Capital LLC acquired a new stake in shares of Pinnacle Foods during the second quarter worth $46,465,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Pinnacle Foods during the second quarter worth $45,090,000. 94.57% of the stock is owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Tuesday, September 4th will be issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Friday, August 31st. Pinnacle Foods’s payout ratio is currently 50.98%.
About Pinnacle Foods
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.
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