Pinnacle Foods Inc (PF) was Upgraded by Goldman to ” Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 57 from a previous price target of $48 . Earlier the firm had a rating of “Neutral ” on the company shares. Goldman advised their investors in a research report released on Jul 12, 2016.
On the company’s financial health, Pinnacle Foods Inc reported $0.40 EPS for the quarter, based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus estimate of $0.40. The company had revenue of $754.30 million for the quarter, compared to analysts expectations of $774.55 million. The company’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.39 EPS.
Pinnacle Foods Inc closed down -0.88 points or -1.83% at $47.18 with 8,57,855 shares getting traded on Monday. Post opening the session at $47.91, the shares hit an intraday low of $47.15 and an intraday high of $48 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Jul 5, 2016, Michael Kelley Maggs (EVP, Secretary, GC) sold 5,000 shares at $46.34 per share price. According to the SEC, on Jun 10, 2016, Craig D. Steeneck (EVP, CFO) sold 20,683 shares at $43.58 per share price. On Mar 21, 2016, Mark L. Schiller (EVP, Div. Pres – NA Retail) sold 7,823 shares at $46.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Pinnacle Foods Inc. is a manufacturer marketer and distributor of food products in North America. The Company’s 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. The Company operates through three segments: the Birds Eye Frozen segment the Duncan Hines Grocery segment and the Specialty Foods segment. The Birds Eye Frozen segment and the Duncan Hines Grocery segment which collectively represent its North America Retail operations include Birds Eye Birds Eye Voila! Van de Kamp’s Mrs. Paul’s Lender’s Celeste Hungry-Man and Aunt Jemima brands. The Duncan Hines Grocery Segment includes Duncan Hines Vlasic Log Cabin Armour Brooks and Nalley brand among others. Specialty Foods Segment consists of Snack Products and Foodservice and Private Label.