Pinnacle Foods Target of Unusually High Options Trading (PF)
Pinnacle Foods, Inc. (NYSE:PF) was the recipient of some unusual options trading activity on Tuesday. Traders acquired 6,093 put options on the stock. This represents an increase of 1,697% compared to the average daily volume of 339 put options.
Hedge funds have recently made changes to their positions in the business. World Asset Management Inc lifted its position in Pinnacle Foods by 0.9% during the second quarter. World Asset Management Inc now owns 4,289 shares of the company’s stock valued at $255,000 after buying an additional 39 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Pinnacle Foods by 7.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,691 shares of the company’s stock valued at $279,000 after buying an additional 317 shares in the last quarter. M&T Bank Corp lifted its position in Pinnacle Foods by 34.0% during the second quarter. M&T Bank Corp now owns 5,014 shares of the company’s stock valued at $300,000 after buying an additional 1,271 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new position in Pinnacle Foods during the third quarter valued at approximately $294,000. Finally, Pinnacle Associates Ltd. lifted its position in Pinnacle Foods by 5.7% during the second quarter. Pinnacle Associates Ltd. now owns 5,600 shares of the company’s stock valued at $333,000 after buying an additional 300 shares in the last quarter. 95.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pinnacle Foods (PF) opened at $56.96 on Friday. Pinnacle Foods has a twelve month low of $50.19 and a twelve month high of $66.67. The stock 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. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.80 and a quick ratio of 0.81.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Tuesday, December 19th will be given a dividend of $0.325 per share. The ex-dividend date is Monday, December 18th. This represents a $1.30 dividend on an annualized basis and a yield of 2.28%. Pinnacle Foods’s dividend payout ratio (DPR) is 87.84%.
PF has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Pinnacle Foods from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. BidaskClub upgraded shares of Pinnacle Foods from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Buckingham Research lowered their price target on shares of Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating for the company in a report on Friday, October 27th. Credit Suisse Group lowered their price target on shares of Pinnacle Foods from $65.00 to $64.00 and set an “outperform” rating for the company in a report on Wednesday, October 4th. Finally, UBS reiterated a “buy” rating and set a $65.00 price target on shares of Pinnacle Foods in a report on Monday, August 28th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Pinnacle Foods presently has an average rating of “Buy” and an average target price of $64.25.
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.
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