Pinnacle Foods Given Consensus Recommendation of “Hold” by Analysts (NYSE:PF)
Shares of Pinnacle Foods (NYSE:PF) have received a consensus rating of “Hold” from the eight ratings firms that are covering the stock, American Banking & Market News reports. Six investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $32.50.
Pinnacle Foods (NYSE:PF) traded down 0.60% during mid-day trading on Wednesday, hitting $30.755. 198,789 shares of the company’s stock traded hands. Pinnacle Foods has a 1-year low of $25.00 and a 1-year high of $35.67. The stock’s 50-day moving average is $31. and its 200-day moving average is $30.34. The company has a market cap of $3.607 billion and a P/E ratio of 34.30.
Pinnacle Foods (NYSE:PF) last announced its earnings results on Wednesday, August 13th. The company reported $0.33 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.33. The company had revenue of $617.80 million for the quarter, compared to the consensus estimate of $629.33 million. On average, analysts predict that Pinnacle Foods will post $1.74 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, October 7th. Investors 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 2.71%. The ex-dividend date is Wednesday, August 27th.
A number of analysts have recently weighed in on PF shares. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Pinnacle Foods in a research note on Monday. They now have a $33.00 price target on the stock, down previously from $35.00. Separately, 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. Finally, 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.
In other Pinnacle Foods news, EVP Antonio F. Fernandez unloaded 3,035 shares of the stock on the open market in a transaction dated Monday, August 11th. The stock was sold at an average price of $30.74, for a total value of $93,295.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America.
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