Equities analysts forecast that Pinnacle Foods Inc (NYSE:PF) will post sales of $909.40 million for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Pinnacle Foods’ earnings, with the lowest sales estimate coming in at $895.30 million and the highest estimate coming in at $930.00 million. Pinnacle Foods posted sales of $858.48 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.9%. The firm is scheduled to issue its next earnings results before the market opens on Thursday, February 22nd.
According to Zacks, analysts expect that Pinnacle Foods will report full-year sales of $909.40 million for the current year, with estimates ranging from $3.15 billion to $3.19 billion. For the next financial year, analysts forecast that the business will report sales of $3.17 billion per share, with estimates ranging from $3.15 billion to $3.22 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Pinnacle Foods.
Several research firms have recently issued reports on PF. Zacks Investment Research upgraded shares of Pinnacle Foods from a “sell” rating to a “hold” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. upped their target price on shares of Pinnacle Foods from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. Credit Suisse Group set a $67.00 target price on shares of Pinnacle Foods and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Finally, Buckingham Research reduced their target price on shares of Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, October 27th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $64.91.
Shares of Pinnacle Foods (NYSE PF) opened at $56.33 on Wednesday. Pinnacle Foods has a one year low of $52.81 and a one year high of $66.67. The company has a quick ratio of 0.81, a current ratio of 1.80 and a debt-to-equity ratio of 1.49. The stock has a market cap of $6,700.00, a price-to-earnings ratio of 38.06, a PEG ratio of 2.62 and a beta of 0.34.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 11th. Investors of record on Tuesday, February 27th will be issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend is Monday, February 26th. Pinnacle Foods’s dividend payout ratio (DPR) is currently 87.84%.
Large investors have recently modified their holdings of the stock. Assetmark Inc. boosted its holdings in shares of Pinnacle Foods by 476.8% in the 4th quarter. Assetmark Inc. now owns 1,840 shares of the company’s stock worth $109,000 after buying an additional 1,521 shares during the last quarter. Cerebellum GP LLC purchased a new position in shares of Pinnacle Foods in the 4th quarter worth about $133,000. American International Group Inc. purchased a new position in shares of Pinnacle Foods in the 4th quarter worth about $147,000. Fortaleza Asset Management Inc. purchased a new position in shares of Pinnacle Foods in the 4th quarter worth about $166,000. Finally, Miles Capital Inc. purchased a new position in shares of Pinnacle Foods in the 4th quarter worth about $204,000. 92.79% of the stock is currently owned by institutional investors.
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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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