Short Interest in Pinnacle Foods (PF) Declines By 44.7%
Pinnacle Foods (NYSE:PF) saw a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 2,860,486 shares, a decrease of 44.7% from the April 30th total of 5,175,323 shares. Based on an average trading volume of 1,512,884 shares, the short-interest ratio is currently 1.9 days. Currently, 2.4% of the shares of the stock are sold short.
Pinnacle Foods opened at $63.94 on Friday, Marketbeat reports. Pinnacle Foods has a fifty-two week low of $52.25 and a fifty-two week high of $66.67. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.47 and a quick ratio of 0.67. The company has a market capitalization of $7.59 billion, a P/E ratio of 25.07, a P/E/G ratio of 2.75 and a beta of 0.45.
Pinnacle Foods (NYSE:PF) last posted its earnings results on Thursday, May 3rd. The company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. Pinnacle Foods had a net margin of 17.93% and a return on equity of 14.39%. The firm had revenue of $778.83 million during the quarter, compared to the consensus estimate of $767.94 million. During the same quarter last year, the firm earned $0.50 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. sell-side analysts expect that Pinnacle Foods will post 2.9 EPS for the current year.
A number of brokerages have recently issued reports on PF. Deutsche Bank set a $66.00 price target on shares of Pinnacle Foods and gave the stock a “buy” rating in a report on Friday, May 4th. Morgan Stanley raised their price target on shares of Pinnacle Foods from $63.00 to $64.00 and gave the stock an “overweight” rating in a report on Friday, May 4th. Jefferies Group restated a “buy” rating and set a $72.00 price target on shares of Pinnacle Foods in a report on Tuesday, May 8th. Credit Suisse Group set a $68.00 price target on shares of Pinnacle Foods and gave the stock a “buy” rating in a report on Saturday, May 5th. Finally, Buckingham Research downgraded shares of Pinnacle Foods from a “buy” rating to a “neutral” rating and set a $62.00 price target for the company. in a report on Monday, April 30th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $65.09.
In other news, EVP Mark L. Schiller sold 5,323 shares of the firm’s stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $63.43, for a total transaction of $337,637.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Muktesh Pant purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were purchased at an average price of $56.93 per share, with a total value of $1,138,600.00. Following the acquisition, the director now directly owns 49,706 shares in the company, valued at $2,829,762.58. The disclosure for this purchase can be found here. In the last quarter, insiders sold 19,941 shares of company stock valued at $1,253,657. 1.38% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of PF. Ceredex Value Advisors LLC acquired a new stake in Pinnacle Foods in the 1st quarter valued at approximately $49,223,000. Virtus Fund Advisers LLC boosted its position in Pinnacle Foods by 119.6% in the 4th quarter. Virtus Fund Advisers LLC now owns 715,350 shares of the company’s stock valued at $42,767,000 after buying an additional 389,550 shares during the period. Victory Capital Management Inc. boosted its position in Pinnacle Foods by 28.5% in the 1st quarter. Victory Capital Management Inc. now owns 1,484,609 shares of the company’s stock valued at $80,318,000 after buying an additional 328,990 shares during the period. CI Global Investments Inc. boosted its position in Pinnacle Foods by 66.4% in the 1st quarter. CI Global Investments Inc. now owns 796,448 shares of the company’s stock valued at $43,088,000 after buying an additional 317,754 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Pinnacle Foods by 205.5% in the 1st quarter. BNP Paribas Arbitrage SA now owns 428,579 shares of the company’s stock valued at $23,186,000 after buying an additional 288,306 shares during the period. Hedge funds and other institutional investors own 98.37% of the company’s stock.
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.
Receive News & Ratings for Pinnacle Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Foods and related companies with MarketBeat.com's FREE daily email newsletter.