Pinnacle Foods, Inc. (NYSE:PF) declared a quarterly dividend on Thursday, December 7th, Wall Street Journal reports. Investors of record on Tuesday, December 19th will be paid a dividend of 0.325 per share on Wednesday, January 10th. This represents a $1.30 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Monday, December 18th.

Pinnacle Foods has increased its dividend payment by an average of 42.9% per year over the last three years and has raised its dividend every year for the last 3 years. Pinnacle Foods has a payout ratio of 51.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Pinnacle Foods to earn $2.78 per share next year, which means the company should continue to be able to cover its $1.30 annual dividend with an expected future payout ratio of 46.8%.

Shares of Pinnacle Foods (NYSE PF) traded up $0.23 during trading on Thursday, reaching $57.45. The company’s stock had a trading volume of 841,400 shares, compared to its average volume of 1,193,562. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.81 and a current ratio of 1.80. Pinnacle Foods has a 52-week low of $49.20 and a 52-week high of $66.67. The firm has a market cap of $6,810.10, a P/E ratio of 23.84, a P/E/G ratio of 2.80 and a beta of 0.33.

Pinnacle Foods (NYSE:PF) last issued its earnings results on Thursday, October 26th. The company reported $0.58 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. The company had revenue of $749.80 million during the quarter, compared to the consensus estimate of $753.10 million. Pinnacle Foods had a return on equity of 14.63% and a net margin of 5.65%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the business posted $0.53 EPS. analysts forecast that Pinnacle Foods will post 2.55 earnings per share for the current fiscal year.

A number of research firms recently commented on PF. UBS reaffirmed a “buy” rating and issued a $65.00 price target on shares of Pinnacle Foods in a report on Monday, August 28th. Credit Suisse Group lowered their target price on shares of Pinnacle Foods from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, October 27th. Zacks Investment Research upgraded shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Tuesday, October 17th. Buckingham Research reduced their price target on shares of Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, October 27th. Finally, BidaskClub upgraded shares of Pinnacle Foods from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $64.25.

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About Pinnacle Foods

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.

Dividend History for Pinnacle Foods (NYSE:PF)

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