Navellier & Associates Inc Lowers Stake in Pinnacle Foods Inc (PF)
Navellier & Associates Inc lowered its stake in Pinnacle Foods Inc (NYSE:PF) by 12.8% during the first quarter, Holdings Channel reports. The fund owned 78,523 shares of the company’s stock after selling 11,495 shares during the period. Navellier & Associates Inc owned about 0.07% of Pinnacle Foods worth $4,544,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Pinnacle Foods by 14.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,483 shares of the company’s stock valued at $175,000 after buying an additional 441 shares during the last quarter. Pacer Advisors Inc. increased its stake in Pinnacle Foods by 7.4% in the third quarter. Pacer Advisors Inc. now owns 3,944 shares of the company’s stock valued at $198,000 after buying an additional 272 shares during the last quarter. Stanley Laman Group Ltd. increased its stake in Pinnacle Foods by 2.2% in the third quarter. Stanley Laman Group Ltd. now owns 4,738 shares of the company’s stock valued at $238,000 after buying an additional 102 shares during the last quarter. State of Alaska Department of Revenue increased its stake in Pinnacle Foods by 6.9% in the third quarter. State of Alaska Department of Revenue now owns 4,823 shares of the company’s stock valued at $241,000 after buying an additional 312 shares during the last quarter. Finally, Asset Management One Co. Ltd. acquired a new position in Pinnacle Foods during the fourth quarter worth about $246,000.
Shares of Pinnacle Foods Inc (NYSE:PF) traded down 0.15% on Friday, hitting $58.44. 889,387 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $58.20 and its 200 day moving average price is $53.61. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 32.65 and a beta of 0.30. Pinnacle Foods Inc has a 12-month low of $41.47 and a 12-month high of $59.49.
Pinnacle Foods (NYSE:PF) last announced its earnings results on Thursday, February 23rd. The company reported $0.79 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.79. The company earned $858.48 million during the quarter, compared to analysts’ expectations of $851.50 million. Pinnacle Foods had a net margin of 6.76% and a return on equity of 13.25%. The firm’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 earnings per share. On average, equities analysts predict that Pinnacle Foods Inc will post $2.58 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 7th. Shareholders of record on Tuesday, February 21st were given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend was Thursday, February 16th. Pinnacle Foods’s payout ratio is currently 66.67%.
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A number of research analysts recently issued reports on PF shares. Credit Suisse Group AG set a $62.00 target price on shares of Pinnacle Foods and gave the company a “buy” rating in a research report on Saturday, February 25th. Deutsche Bank AG started coverage on shares of Pinnacle Foods in a research report on Wednesday, February 15th. They set a “buy” rating and a $61.00 target price for the company. Jefferies Group LLC started coverage on shares of Pinnacle Foods in a research report on Tuesday, April 11th. They set a “buy” rating and a $67.00 target price for the company. Barclays PLC restated a “buy” rating on shares of Pinnacle Foods in a research report on Wednesday, March 1st. Finally, Zacks Investment Research upgraded shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Tuesday, February 28th. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $59.15.
In other Pinnacle Foods news, CMO Michael J. Barkley sold 1,048 shares of Pinnacle Foods stock in a transaction dated Friday, April 7th. The shares were sold at an average price of $58.25, for a total transaction of $61,046.00. Following the completion of the transaction, the chief marketing officer now owns 12,919 shares in the company, valued at $752,531.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mark L. Schiller sold 38,421 shares of Pinnacle Foods stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $41.70, for a total transaction of $1,602,155.70. Following the transaction, the executive vice president now owns 88,421 shares of the company’s stock, valued at approximately $3,687,155.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 259,829 shares of company stock valued at $14,255,951. 2.75% of the stock is currently owned by company insiders.
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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