Shares of Pinnacle Foods Inc (NYSE:PF) have earned an average recommendation of “Hold” from the sixteen analysts that are covering the stock, MarketBeat Ratings reports. Thirteen analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $66.86.
PF has been the subject of several recent research reports. Zacks Investment Research raised Pinnacle Foods from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a report on Tuesday, July 10th. Buckingham Research increased their price target on Pinnacle Foods from $62.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, July 20th. CL King downgraded Pinnacle Foods from a “buy” rating to a “neutral” rating in a report on Thursday, August 2nd. JPMorgan Chase & Co. downgraded Pinnacle Foods from an “overweight” rating to a “neutral” rating and set a $64.00 price target for the company. in a report on Friday, August 3rd. Finally, Piper Jaffray Companies downgraded Pinnacle Foods from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $69.00 to $68.00 in a report on Monday, September 24th.
A number of institutional investors have recently added to or reduced their stakes in PF. Fort L.P. acquired a new stake in Pinnacle Foods in the second quarter valued at $123,000. NumerixS Investment Technologies Inc purchased a new position in shares of Pinnacle Foods in the second quarter valued at $130,000. Steward Partners Investment Advisory LLC increased its position in shares of Pinnacle Foods by 100.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 2,194 shares of the company’s stock valued at $143,000 after buying an additional 1,100 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Pinnacle Foods by 41.4% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,599 shares of the company’s stock valued at $195,000 after buying an additional 1,053 shares in the last quarter. Finally, CenterStar Asset Management LLC increased its position in shares of Pinnacle Foods by 299,900.0% in the second quarter. CenterStar Asset Management LLC now owns 3,000 shares of the company’s stock valued at $196,000 after buying an additional 2,999 shares in the last quarter. 94.33% of the stock is owned by institutional investors.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Tuesday, September 4th were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Friday, August 31st.
Pinnacle Foods Company Profile
Pinnacle Foods Inc manufactures, markets, and distributes branded convenience food products in North America. It operates through four segments: Frozen, Grocery, Boulder, and Specialty. The Frozen segment offers frozen vegetables, frozen complete bagged meals, frozen prepared seafood, frozen and refrigerated bagels, frozen pizza, and full-calorie single-serve frozen dinners and entrées under the Birds Eye, Birds Eye Voila!, Van de Kamp's, Mrs.
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