Pinnacle Foods Inc (PF) Releases Earnings Results, Beats Expectations By $0.03 EPS

Pinnacle Foods Inc (PF) reported quarterly earnings results on Thursday, Jul-28-2016. The company said it had a profit of $0.42 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.39. The company posted revenue of $756.40 million in the period, compared to analysts expectations of $755.62 million. The company’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.

Many Wall Street Analysts have commented on Pinnacle Foods Inc. Company shares were Upgraded by Goldman on Jul 12, 2016 to ” Buy”, Firm has raised the Price Target to $ 57 from a previous price target of $48 .

Pinnacle Foods Inc opened for trading at $49.08 and hit $49.74 on the upside on Thursday, eventually ending the session at $48.82, with a gain of 2.65% or 1.26 points. The heightened volatility saw the trading volume jump to 41,49,539 shares. Company has a market cap of $5,704 M.

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.

Pinnacle Foods Inc

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