Traders Purchase Large Volume of Call Options on Pinnacle Foods (PF)

Pinnacle Foods Inc (NYSE:PF) was the target of some unusual options trading activity on Friday. Investors acquired 11,665 call options on the company. This is an increase of 1,031% compared to the average volume of 1,031 call options.

A number of equities research analysts recently weighed in on PF shares. Zacks Investment Research downgraded shares of Pinnacle Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. Credit Suisse Group set a $67.00 target price on shares of Pinnacle Foods and gave the company a “buy” rating in a research note on Wednesday, January 10th. Finally, Buckingham Research lowered their target price on shares of Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $65.27.

Shares of Pinnacle Foods (NYSE:PF) opened at $61.65 on Monday. Pinnacle Foods has a one year low of $52.51 and a one year high of $66.67. 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 has a market cap of $7,051.70, a P/E ratio of 41.66, a P/E/G ratio of 2.70 and a beta of 0.33.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Tuesday, December 19th were given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend was Monday, December 18th. Pinnacle Foods’s payout ratio is currently 87.84%.

Hedge funds and other institutional investors have recently modified their holdings of the business. Cerebellum GP LLC bought a new position in Pinnacle Foods during the fourth quarter valued at approximately $133,000. Fox Run Management L.L.C. bought a new position in Pinnacle Foods during the fourth quarter valued at approximately $290,000. Town & Country Bank & Trust CO dba First Bankers Trust CO bought a new position in Pinnacle Foods during the third quarter valued at approximately $294,000. M&T Bank Corp grew 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 acquiring an additional 1,271 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Pinnacle Foods during the fourth quarter valued at approximately $304,000. Institutional investors and hedge funds own 95.21% of the company’s stock.

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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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