Insider Selling: Pinnacle Foods SVP Sells 2,500 Shares of Stock (PF)
Pinnacle Foods (NYSE:PF) SVP Lynne M. Misericordia unloaded 2,500 shares of the stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $31.49, for a total transaction of $78,725.00. Following the sale, the senior vice president now directly owns 115,370 shares in the company, valued at approximately $3,633,001. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Pinnacle Foods (NYSE:PF) traded up 0.68% on Monday, hitting $32.40. 811,845 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 $31.17 and its 200-day moving average is $30.40. The company has a market cap of $3.800 billion and a P/E ratio of 22.09.
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. 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. 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 2.61%. The ex-dividend date is Wednesday, August 27th.
PF has been the subject of a number of recent research reports. Analysts at BMO Capital Markets reiterated a “market perform” rating on shares of Pinnacle Foods in a research note on Thursday. They now have a $32.00 price target on the stock, down previously from $36.00. Separately, analysts at Stephens upgraded shares of Pinnacle Foods from an “equal weight” rating to an “overweight” rating in a research note on Thursday. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of Pinnacle Foods in a research note on Monday, August 11th. They now have a $33.00 price target on the stock, down previously from $35.00. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average 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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