Pinnacle Foods, Inc. (PF) Expected to Post Quarterly Sales of $750.52 Million
Wall Street analysts expect Pinnacle Foods, Inc. (NYSE:PF) to post $750.52 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Pinnacle Foods’ earnings. The highest sales estimate is $758.00 million and the lowest is $740.46 million. Pinnacle Foods reported sales of $758.82 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.1%. The company is expected to issue its next quarterly earnings results on Thursday, October 26th.
According to Zacks, analysts expect that Pinnacle Foods will report full year sales of $750.52 million for the current financial year, with estimates ranging from $3.13 billion to $3.20 billion. For the next financial year, analysts anticipate that the firm will post sales of $3.13 billion per share, with estimates ranging from $3.09 billion to $3.18 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Pinnacle Foods.
Pinnacle Foods (NYSE:PF) last released its earnings results on Thursday, July 27th. The company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. Pinnacle Foods had a net margin of 5.82% and a return on equity of 14.47%. The company had revenue of $744.61 million during the quarter, compared to analysts’ expectations of $764.41 million. During the same quarter last year, the business earned $0.42 EPS. The business’s revenue was down 1.6% on a year-over-year basis.
Several equities analysts have recently commented on the stock. BidaskClub upgraded shares of Pinnacle Foods from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Zacks Investment Research raised shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a report on Tuesday, June 27th. BMO Capital Markets reaffirmed a “buy” rating and issued a $63.00 price objective on shares of Pinnacle Foods in a report on Tuesday, June 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $67.00 price objective (up previously from $66.00) on shares of Pinnacle Foods in a report on Tuesday, July 25th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $68.00 price objective (up previously from $65.00) on shares of Pinnacle Foods in a report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $64.36.
In other Pinnacle Foods news, EVP Michael J. Barkley sold 24,962 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $59.30, for a total transaction of $1,480,246.60. Following the sale, the executive vice president now owns 17,802 shares in the company, valued at approximately $1,055,658.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Christopher J. Boever sold 26,682 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $59.02, for a total value of $1,574,771.64. Following the sale, the executive vice president now owns 66,296 shares in the company, valued at approximately $3,912,789.92. The disclosure for this sale can be found here. Insiders sold a total of 101,644 shares of company stock valued at $6,023,518 over the last three months. 1.34% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of PF. First Quadrant L P CA bought a new stake in Pinnacle Foods during the second quarter valued at about $122,000. Tower Research Capital LLC TRC increased its stake in Pinnacle Foods by 599.0% in the first quarter. Tower Research Capital LLC TRC now owns 2,097 shares of the company’s stock valued at $121,000 after buying an additional 1,797 shares during the last quarter. Acrospire Investment Management LLC increased its stake in Pinnacle Foods by 107.1% in the first quarter. Acrospire Investment Management LLC now owns 2,900 shares of the company’s stock valued at $168,000 after buying an additional 1,500 shares during the last quarter. Harbour Capital Advisors LLC bought a new stake in Pinnacle Foods during the first quarter valued at about $204,000. Finally, M&T Bank Corp bought a new stake in Pinnacle Foods during the first quarter valued at about $217,000. Hedge funds and other institutional investors own 97.00% of the company’s stock.
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Shares of Pinnacle Foods (PF) opened at 59.19 on Monday. The stock has a 50 day moving average of $60.21 and a 200 day moving average of $58.27. The firm has a market cap of $7.03 billion, a PE ratio of 38.56 and a beta of 0.34. Pinnacle Foods has a 1-year low of $46.36 and a 1-year high of $66.67.
Pinnacle Foods Company Profile
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America. The Company operates through four segments: Frozen segment, the Grocery segment, the Boulder segment and the Specialty segment. Its products are sold through supermarkets, grocery wholesalers and distributors, mass merchandisers, super centers, convenience stores, dollar stores, drug stores and warehouse clubs in the United States and Canada, as well as in military channels and foodservice locations.
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