News coverage about Pinnacle Foods (NYSE:PF) has been trending somewhat positive this week, Accern reports. Accern scores the sentiment of news coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Pinnacle Foods earned a daily sentiment score of 0.21 on Accern’s scale. Accern also assigned news coverage about the company an impact score of 46.8497513975289 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the immediate future.
A number of equities analysts have issued reports on PF shares. BMO Capital Markets reissued a “buy” rating and set a $63.00 price target on shares of Pinnacle Foods in a research report on Tuesday, June 27th. UBS AG reissued a “buy” rating and set a $65.00 price target on shares of Pinnacle Foods in a research report on Monday, August 28th. BidaskClub lowered shares of Pinnacle Foods from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 3rd. Zacks Investment Research raised shares of Pinnacle Foods from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Credit Suisse Group reduced their price target on shares of Pinnacle Foods from $65.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, October 4th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $64.90.
Pinnacle Foods (NYSE:PF) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.01. Pinnacle Foods had a return on equity of 14.47% and a net margin of 5.82%. The company had revenue of $744.61 million during the quarter, compared to analysts’ expectations of $764.41 million. During the same quarter in the previous year, the business earned $0.42 earnings per share. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis.
The business also recently declared a quarterly dividend, which was paid on Monday, October 9th. Stockholders of record on Tuesday, August 29th were paid a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Friday, August 25th. This is a boost from Pinnacle Foods’s previous quarterly dividend of $0.29. Pinnacle Foods’s dividend payout ratio is 84.97%.
In other news, EVP Michael J. Barkley sold 24,962 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $59.30, for a total transaction of $1,480,246.60. Following the completion of the sale, the executive vice president now owns 17,802 shares in the company, valued at $1,055,658.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark L. Schiller sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $59.37, for a total value of $2,968,500.00. Following the sale, the executive vice president now owns 96,377 shares of the company’s stock, valued at approximately $5,721,902.49. The disclosure for this sale can be found here. Insiders have sold 151,912 shares of company stock valued at $9,037,020 in the last 90 days. Company insiders own 1.34% of the company’s stock.
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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.
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