Pinnacle Foods (PF) Posts Quarterly Earnings, Hits Estimates
Pinnacle Foods (NYSE:PF) released its earnings data on Wednesday. The company reported $0.33 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.33, American Banking & Market News reports. The company had revenue of $617.80 million for the quarter, compared to the consensus estimate of $629.33 million.
Pinnacle Foods (NYSE:PF) opened at 30.94 on Wednesday. Pinnacle Foods has a one year low of $25.00 and a one 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 $3.629 billion and a P/E ratio of 33.96.
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 2.71%. The ex-dividend date is Wednesday, August 27th.
A number of research firms have recently commented on PF. 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. On a related note, 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. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $32.50.
In other Pinnacle Foods news, EVP Antonio F. Fernandez sold 3,035 shares of Pinnacle Foods stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $30.74, for a total value of $93,295.90. The sale was disclosed in a filing 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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