Pinnacle Foods Inc (PF) to Issue Quarterly Dividend of $0.33 on January 10th
Pinnacle Foods Inc (NYSE:PF) announced a quarterly dividend on Thursday, December 7th, Wall Street Journal reports. Investors of record on Tuesday, December 19th will be given a dividend of 0.325 per share on Wednesday, January 10th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Monday, December 18th.
Pinnacle Foods has increased its dividend payment by an average of 42.9% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Pinnacle Foods has a payout ratio of 51.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Pinnacle Foods to earn $2.77 per share next year, which means the company should continue to be able to cover its $1.30 annual dividend with an expected future payout ratio of 46.9%.
Shares of Pinnacle Foods (NYSE:PF) opened at $56.15 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.80 and a debt-to-equity ratio of 1.49. Pinnacle Foods has a fifty-two week low of $51.13 and a fifty-two week high of $66.67. The company has a market cap of $6,685.13, a P/E ratio of 23.40, a P/E/G ratio of 2.75 and a beta of 0.33.
Pinnacle Foods (NYSE:PF) last released its earnings results on Thursday, October 26th. The company reported $0.58 earnings per share for the quarter, hitting the consensus estimate of $0.58. The business had revenue of $749.80 million for the quarter, compared to the consensus estimate of $753.10 million. Pinnacle Foods had a net margin of 5.65% and a return on equity of 14.63%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. analysts predict that Pinnacle Foods will post 2.55 earnings per share for the current fiscal year.
PF has been the topic of several analyst reports. UBS reissued a “buy” rating and issued a $65.00 target price on shares of Pinnacle Foods in a research report on Monday, August 28th. Credit Suisse Group dropped their target price on shares of Pinnacle Foods from $65.00 to $64.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 4th. Zacks Investment Research raised shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Tuesday, October 17th. Finally, Buckingham Research dropped their target price on shares of Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $64.25.
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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