Royal Bank Of Canada Reaffirms “Outperform” Rating for Pinnacle Foods, Inc. (PF)

Pinnacle Foods, Inc. (NYSE:PF)‘s stock had its “outperform” rating reaffirmed by Royal Bank Of Canada in a research note issued on Tuesday, July 25th. They currently have a $67.00 price target on the stock, up from their prior price target of $66.00. Royal Bank Of Canada’s price objective suggests a potential upside of 13.62% from the stock’s current price.

PF has been the topic of a number of other research reports. Morgan Stanley raised Pinnacle Foods from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $58.00 to $63.00 in a research note on Monday, April 10th. Jefferies Group LLC started coverage on Pinnacle Foods in a research note on Tuesday, April 11th. They set a “buy” rating and a $67.00 target price on the stock. BidaskClub cut Pinnacle Foods from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research raised Pinnacle Foods from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Tuesday, June 27th. Finally, Deutsche Bank AG increased their price objective on Pinnacle Foods from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $64.36.

Shares of Pinnacle Foods (NYSE PF) traded down 0.87% during trading on Tuesday, hitting $58.97. The company had a trading volume of 719,584 shares. The firm’s 50 day moving average is $60.06 and its 200-day moving average is $58.29. The stock has a market capitalization of $7.01 billion, a P/E ratio of 38.42 and a beta of 0.34. Pinnacle Foods has a 52 week low of $46.36 and a 52 week high of $66.67.

Pinnacle Foods (NYSE:PF) last released its earnings results on Thursday, July 27th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $744.61 million for the quarter, compared to analysts’ expectations of $764.41 million. Pinnacle Foods had a return on equity of 14.47% and a net margin of 5.82%. The company’s quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Equities research analysts anticipate that Pinnacle Foods will post $2.56 EPS for the current fiscal year.

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In other Pinnacle Foods news, CFO Craig D. Steeneck sold 33,095 shares of Pinnacle Foods stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $59.61, for a total transaction of $1,972,792.95. Following the completion of the transaction, the chief financial officer now owns 204,364 shares in the company, valued at approximately $12,182,138.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Christopher J. Boever sold 26,682 shares of Pinnacle Foods stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $59.02, for a total value of $1,574,771.64. Following the transaction, the executive vice president now owns 66,296 shares of the company’s stock, valued at approximately $3,912,789.92. The disclosure for this sale can be found here. Insiders sold a total of 134,739 shares of company stock valued at $7,996,311 in the last 90 days. 1.34% of the stock is currently owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in PF. First Quadrant L P CA bought a new position in Pinnacle Foods during the second quarter worth $122,000. Tower Research Capital LLC TRC boosted its stake in Pinnacle Foods by 599.0% in the first quarter. Tower Research Capital LLC TRC now owns 2,097 shares of the company’s stock worth $121,000 after buying an additional 1,797 shares during the period. Acrospire Investment Management LLC boosted its stake in Pinnacle Foods by 107.1% in the first quarter. Acrospire Investment Management LLC now owns 2,900 shares of the company’s stock worth $168,000 after buying an additional 1,500 shares during the period. Harbour Capital Advisors LLC acquired a new stake in Pinnacle Foods during the first quarter worth approximately $204,000. Finally, M&T Bank Corp acquired a new stake in Pinnacle Foods during the first quarter worth approximately $217,000. Institutional investors and hedge funds own 97.00% of the company’s stock.

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.

Analyst Recommendations for Pinnacle Foods (NYSE:PF)

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