BMO Capital Markets Reiterates “Market Perform” Rating for Pinnacle Foods (PF)
Pinnacle Foods (NYSE:PF)‘s stock had its “market perform” rating reiterated by analysts at BMO Capital Markets in a research report issued to clients and investors on Thursday. They currently have a $32.00 price objective on the stock, down from their previous price objective of $36.00. BMO Capital Markets’ price objective would indicate a potential upside of 1.91% from the company’s current price.
In other Pinnacle Foods news, EVP Antonio F. Fernandez sold 3,035 shares of Pinnacle Foods stock on the open market in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $30.74, for a total transaction of $93,295.90. The sale was disclosed in a document filed with the SEC, which is available at this link.
Shares of Pinnacle Foods (NYSE:PF) traded down 0.03% during mid-day trading on Thursday, hitting $31.39. 210,379 shares of the company’s stock traded hands. 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 $31.23 and a 200-day moving average of $30.35. The company has a market cap of $3.682 billion and a price-to-earnings ratio of 34.81.
Pinnacle Foods (NYSE:PF) last announced its earnings results on Wednesday, August 13th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting the 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. Stockholders 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 2.68%. The ex-dividend date is Wednesday, August 27th.
A number of other analysts have also recently weighed in on PF. Analysts at Stephens upgraded shares of Pinnacle Foods from an “equal weight” rating to an “overweight” rating in a research note on Thursday. Separately, 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. Finally, 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. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $31.75.
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America.
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