Insider Selling: Pinnacle Foods CFO Sells 10,000 Shares of Stock (PF)
Pinnacle Foods (NYSE:PF) CFO Craig D. Steeneck sold 10,000 shares of Pinnacle Foods stock on the open market in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $32.39, for a total value of $323,900.00. Following the transaction, the chief financial officer now directly owns 297,697 shares of the company’s stock, valued at approximately $9,642,406. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Pinnacle Foods (NYSE:PF) traded down 0.21% on Wednesday, hitting $32.87. The stock had a trading volume of 392,792 shares. 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 $31.38 and a 200-day moving average of $30.85. The company has a market cap of $3.855 billion and a price-to-earnings ratio of 22.61.
Pinnacle Foods (NYSE:PF) last posted its quarterly earnings results on Wednesday, August 13th. The company reported $0.33 earnings per share for the quarter, meeting the analysts’ 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 declared a quarterly dividend, which is scheduled for Tuesday, October 7th. Shareholders of record on Friday, August 29th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Wednesday, August 27th.
A number of analysts have recently weighed in on PF shares. Analysts at BMO Capital Markets reiterated a “market perform” rating on shares of Pinnacle Foods in a research note on Thursday, August 14th. 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, August 14th. 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 equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Pinnacle Foods has a consensus rating of “Hold” and a consensus price target of $31.75.
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America.
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