AdvancePierre Foods Holdings Inc (APFH) Expected to Announce Quarterly Sales of $395.72 Million
Wall Street analysts predict that AdvancePierre Foods Holdings Inc (NASDAQ:APFH) will report sales of $395.72 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for AdvancePierre Foods Holdings’ earnings, with the lowest sales estimate coming in at $393.43 million and the highest estimate coming in at $398 million. AdvancePierre Foods Holdings posted sales of $370.69 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.8%. The business is expected to announce its next quarterly earnings report on Wednesday, August 9th.
On average, analysts expect that AdvancePierre Foods Holdings will report full year sales of $395.72 million for the current fiscal year, with estimates ranging from $1.65 billion to $1.67 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.73 billion per share, with estimates ranging from $1.7 billion to $1.76 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow AdvancePierre Foods Holdings.
AdvancePierre Foods Holdings (NASDAQ:APFH) last released its quarterly earnings results on Wednesday, May 10th. The company reported $0.31 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. The firm had revenue of $402.73 million during the quarter, compared to analysts’ expectations of $419.87 million. During the same period in the prior year, the firm posted $0.34 earnings per share. AdvancePierre Foods Holdings’s revenue for the quarter was up 2.1% compared to the same quarter last year.
A number of research analysts recently commented on APFH shares. Zacks Investment Research raised shares of AdvancePierre Foods Holdings from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research report on Wednesday, February 1st. Barclays PLC reaffirmed a “hold” rating and issued a $33.00 target price on shares of AdvancePierre Foods Holdings in a research report on Tuesday, March 14th. BMO Capital Markets reaffirmed a “buy” rating and issued a $34.00 target price on shares of AdvancePierre Foods Holdings in a research report on Wednesday, April 12th. Finally, Wells Fargo & Co downgraded shares of AdvancePierre Foods Holdings from an “outperform” rating to a “market perform” rating and set a $40.00 target price on the stock. in a research report on Tuesday, May 9th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. AdvancePierre Foods Holdings presently has an average rating of “Hold” and an average target price of $32.00.
AdvancePierre Foods Holdings (NASDAQ:APFH) traded up 0.12% during trading on Thursday, reaching $40.20. 272,009 shares of the company’s stock traded hands. The company has a market cap of $3.14 billion and a PE ratio of 20.35. AdvancePierre Foods Holdings has a 12-month low of $22.99 and a 12-month high of $40.79. The company has a 50 day moving average price of $36.60 and a 200-day moving average price of $30.39.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 25th. Shareholders of record on Thursday, May 18th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.59%. The ex-dividend date is Tuesday, May 16th.
In other AdvancePierre Foods Holdings news, CEO John Nelson Simons, Jr. sold 163,975 shares of the firm’s stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $29.13, for a total transaction of $4,776,591.75. Following the transaction, the chief executive officer now directly owns 1,655,049 shares of the company’s stock, valued at approximately $48,211,577.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James L. Clough sold 12,328 shares of the firm’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $28.94, for a total transaction of $356,772.32. Following the transaction, the insider now directly owns 558,818 shares in the company, valued at $16,172,192.92. The disclosure for this sale can be found here. Insiders have sold a total of 462,494 shares of company stock worth $13,582,094 over the last three months.
Hedge funds and other institutional investors have recently modified their holdings of the company. Great West Life Assurance Co. Can increased its position in shares of AdvancePierre Foods Holdings by 131.8% in the first quarter. Great West Life Assurance Co. Can now owns 5,100 shares of the company’s stock valued at $158,000 after buying an additional 2,900 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new position in shares of AdvancePierre Foods Holdings during the first quarter valued at about $200,000. Diversified Trust Co acquired a new position in shares of AdvancePierre Foods Holdings during the first quarter valued at about $246,000. Laurion Capital Management LP acquired a new position in shares of AdvancePierre Foods Holdings during the first quarter valued at about $249,000. Finally, Alambic Investment Management L.P. acquired a new position in shares of AdvancePierre Foods Holdings during the first quarter valued at about $256,000.
About AdvancePierre Foods Holdings
AdvancePierre Foods Holdings, Inc is a producer and distributor of ready-to-eat sandwiches, sandwich components and other entrees and snacks. The Company operates through four segments. The Foodservice segment’s portfolio of products includes breakfast sandwiches, peanut butter and jelly sandwiches, Philly steaks, fully cooked hamburger-patties, country-fried steak, stuffed entrees and chicken tenders.
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