Brokerages expect Pinnacle Foods (NYSE:PF) to report $765.23 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Pinnacle Foods’ earnings. The lowest sales estimate is $753.58 million and the highest is $779.00 million. Pinnacle Foods reported sales of $766.07 million during the same quarter last year, which would suggest a negative year over year growth rate of 0.1%. The business is expected to report its next earnings report on Thursday, April 26th.
On average, analysts expect that Pinnacle Foods will report full year sales of $765.23 million for the current fiscal year, with estimates ranging from $3.10 billion to $3.19 billion. For the next year, analysts forecast that the firm will post sales of $3.17 billion per share, with estimates ranging from $3.09 billion to $3.21 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Pinnacle Foods.
Pinnacle Foods (NYSE:PF) last issued its quarterly earnings results on Thursday, March 1st. The company reported $0.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.01). The business had revenue of $883.51 million for the quarter, compared to analysts’ expectations of $896.53 million. Pinnacle Foods had a return on equity of 14.75% and a net margin of 16.92%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 EPS.
Shares of Pinnacle Foods stock traded up $0.31 on Tuesday, hitting $54.10. 998,364 shares of the company’s stock were exchanged, compared to its average volume of 1,951,017. The stock has a market capitalization of $6,439.69, a PE ratio of 21.22, a P/E/G ratio of 2.33 and a beta of 0.47. Pinnacle Foods has a 1 year low of $52.30 and a 1 year high of $66.67. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.84 and a quick ratio of 0.97.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 11th. Shareholders of record on Tuesday, February 27th will be issued a $0.325 dividend. The ex-dividend date of this dividend is Monday, February 26th. This represents a $1.30 dividend on an annualized basis and a yield of 2.40%. Pinnacle Foods’s dividend payout ratio is currently 50.98%.
In related news, Director Muktesh Pant purchased 20,000 shares of Pinnacle Foods stock in a transaction on Wednesday, March 7th. The shares were bought at an average cost of $56.93 per share, for a total transaction of $1,138,600.00. Following the acquisition, the director now owns 49,706 shares in the company, valued at approximately $2,829,762.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.34% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Three Peaks Capital Management LLC increased its holdings in shares of Pinnacle Foods by 31.5% in the 4th quarter. Three Peaks Capital Management LLC now owns 231,461 shares of the company’s stock worth $13,765,000 after buying an additional 55,463 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Pinnacle Foods by 11.1% during the 3rd quarter. Janus Henderson Group PLC now owns 253,220 shares of the company’s stock valued at $14,477,000 after purchasing an additional 25,200 shares during the last quarter. Legal & General Group Plc grew its holdings in Pinnacle Foods by 18.4% during the 3rd quarter. Legal & General Group Plc now owns 82,648 shares of the company’s stock valued at $4,726,000 after purchasing an additional 12,866 shares during the last quarter. Gabelli Funds LLC grew its holdings in Pinnacle Foods by 10.1% during the 4th quarter. Gabelli Funds LLC now owns 111,600 shares of the company’s stock valued at $6,637,000 after purchasing an additional 10,200 shares during the last quarter. Finally, Miles Capital Inc. bought a new position in Pinnacle Foods during the 4th quarter valued at about $204,000. Institutional investors own 96.93% of the company’s stock.
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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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