Stock Traders Purchase High Volume of Put Options on Pinnacle Foods (PF)
Pinnacle Foods, Inc. (NYSE:PF) saw unusually large options trading on Tuesday. Traders bought 6,093 put options on the stock. This represents an increase of 1,697% compared to the average daily volume of 339 put options.
A number of large investors have recently added to or reduced their stakes in PF. World Asset Management Inc raised its stake in shares of Pinnacle Foods by 0.9% in the second quarter. World Asset Management Inc now owns 4,289 shares of the company’s stock valued at $255,000 after acquiring an additional 39 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Pinnacle Foods by 7.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,691 shares of the company’s stock valued at $279,000 after acquiring an additional 317 shares in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new stake in shares of Pinnacle Foods in the third quarter valued at $294,000. M&T Bank Corp raised its stake in shares of Pinnacle Foods by 34.0% in the second quarter. M&T Bank Corp now owns 5,014 shares of the company’s stock valued at $300,000 after acquiring an additional 1,271 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its stake in shares of Pinnacle Foods by 5.7% in the second quarter. Pinnacle Associates Ltd. now owns 5,600 shares of the company’s stock valued at $333,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 95.31% of the company’s stock.
Pinnacle Foods (NYSE PF) opened at $56.96 on Friday. The firm has a market capitalization of $6,810.10, a P/E ratio of 23.84, a P/E/G ratio of 2.80 and a beta of 0.33. Pinnacle Foods has a 52-week low of $50.19 and a 52-week high of $66.67. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.80 and a quick ratio of 0.81.
Pinnacle Foods (NYSE:PF) last issued its quarterly earnings data on Thursday, October 26th. The company reported $0.58 earnings per share for the quarter, hitting the consensus estimate of $0.58. Pinnacle Foods had a return on equity of 14.63% and a net margin of 5.65%. The company had revenue of $749.80 million during the quarter, compared to analyst estimates of $753.10 million. During the same period in the prior year, the business posted $0.53 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. analysts anticipate that Pinnacle Foods will post 2.55 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Tuesday, December 19th will be paid a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Monday, December 18th. Pinnacle Foods’s dividend payout ratio (DPR) is 87.84%.
A number of research firms have recently issued reports on PF. Zacks Investment Research lowered Pinnacle Foods from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Credit Suisse Group dropped their price target on Pinnacle Foods from $64.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, October 27th. Buckingham Research dropped their price target on Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, October 27th. UBS restated a “buy” rating and issued a $65.00 price target on shares of Pinnacle Foods in a research report on Monday, August 28th. Finally, BidaskClub upgraded Pinnacle Foods from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Pinnacle Foods currently has an average rating of “Buy” and a consensus target price of $64.25.
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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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