Insider Selling: Pinnacle Foods CFO Sells 10,000 Shares of Stock (PF)
Pinnacle Foods (NYSE:PF) CFO Craig Steeneck unloaded 10,000 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $25.81, for a total transaction of $258,100.00. Following the completion of the transaction, the chief financial officer now directly owns 407,697 shares in the company, valued at approximately $10,522,660. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Pinnacle Foods (NYSE:PF) traded down 1.74% during mid-day trading on Tuesday, hitting $25.38. The stock had a trading volume of 182,802 shares. Pinnacle Foods has a 1-year low of $22.15 and a 1-year high of $28.52. The stock has a 50-day moving average of $26.90 and a 200-day moving average of $25.25. The company has a market cap of $2.973 billion and a P/E ratio of 52.18.
Pinnacle Foods (NYSE:PF) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.27 by $0.02. The company had revenue of $569.00 million for the quarter, compared to the consensus estimate of $576.64 million. Pinnacle Foods’s revenue was down 3.3% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 10th. Investors of record on Monday, September 23rd will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, September 19th.
PF has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Pinnacle Foods from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, August 19th. They now have a $28.50 price target on the stock. Separately, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of Pinnacle Foods in a research note to investors on Thursday, August 15th. They now have a $27.00 price target on the stock, up previously from $25.00. Finally, analysts at BMO Capital Markets raised their price target on shares of Pinnacle Foods from $28.00 to $30.00 in a research note to investors on Thursday, August 15th. They now have an “outperform” rating on the stock. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $27.90.
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America.
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