Pinnacle Foods’s “Hold” Rating Reaffirmed at Deutsche Bank (PF)
Pinnacle Foods (NYSE:PF)‘s stock had its “hold” rating restated by analysts at Deutsche Bank in a research report issued to clients and investors on Monday. They currently have a $33.00 price target on the stock, down from their previous price target of $35.00. Deutsche Bank’s target price indicates a potential upside of 7.28% from the stock’s previous close.
A number of other firms have also recently commented on PF. 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. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Pinnacle Foods presently has an average rating of “Hold” and an average target price of $32.50.
In other Pinnacle Foods news, CFO Craig D. Steeneck sold 10,000 shares of the company’s stock on the open market in a transaction dated Friday, August 1st. The shares were sold at an average price of $30.19, for a total transaction of $301,900.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Pinnacle Foods (NYSE:PF) traded up 0.07% on Monday, hitting $30.78. 525,935 shares of the company’s stock traded hands. Pinnacle Foods has a one year low of $25.00 and a one year high of $35.67. The stock has a 50-day moving average of $31.39 and a 200-day moving average of $30.24. The company has a market cap of $3.610 billion and a P/E ratio of 34.10.
Pinnacle Foods (NYSE:PF) last released its 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.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 7th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Wednesday, August 27th.
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America.
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