Insider Selling: Craig D. Steeneck Sells 10,000 Shares of Pinnacle Foods Stock (PF)
Pinnacle Foods (NYSE:PF) CFO Craig D. Steeneck unloaded 10,000 shares of Pinnacle Foods stock on the open market in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $30.19, for a total value of $301,900.00. Following the transaction, the chief financial officer now directly owns 307,697 shares in the company, valued at approximately $9,289,372. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Pinnacle Foods (NYSE:PF) traded down 1.34% on Monday, hitting $30.28. The stock had a trading volume of 634,312 shares. Pinnacle Foods has a 52-week low of $25.00 and a 52-week high of $35.67. The stock has a 50-day moving average of $31.75 and a 200-day moving average of $30.16. The company has a market cap of $3.552 billion and a P/E ratio of 34.02.
Pinnacle Foods (NYSE:PF) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.35 by $0.01. The company had revenue of $644.00 million for the quarter, compared to the consensus estimate of $649.30 million. During the same quarter in the prior year, the company posted $0.34 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. Analysts expect that Pinnacle Foods will post $1.74 EPS for the current fiscal year.
PF has been the subject of a number of recent research reports. Analysts at Morgan Stanley initiated coverage on shares of Pinnacle Foods in a research note on Tuesday, July 15th. They set an “equal weight” rating and a $32.00 price target on the stock. Separately, analysts at Goldman Sachs initiated coverage on shares of Pinnacle Foods in a research note on Tuesday, July 15th. They set a “neutral” rating and a $34.00 price target on the stock. Finally, analysts at RBC Capital upgraded shares of Pinnacle Foods from a “sector perform” rating to an “outperform” rating in a research note on Thursday, June 26th. They now have a $36.00 price target on the stock. Seven analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $32.59.
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America.
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