Pinnacle Foods Target of Unusually High Options Trading (PF)

Pinnacle Foods Inc (NYSE:PF) was the target of unusually large options trading on Tuesday. Stock traders purchased 6,300 put options on the stock. This is an increase of 1,202% compared to the average daily volume of 484 put options.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Grassi Investment Management boosted its position in shares of Pinnacle Foods by 0.8% in the 4th quarter. Grassi Investment Management now owns 114,384 shares of the company’s stock valued at $6,802,000 after purchasing an additional 867 shares during the period. Sit Investment Associates Inc. boosted its position in shares of Pinnacle Foods by 1,202.3% in the 4th quarter. Sit Investment Associates Inc. now owns 325,900 shares of the company’s stock valued at $19,381,000 after purchasing an additional 300,875 shares during the period. Jana Partners LLC boosted its position in shares of Pinnacle Foods by 49.8% in the 3rd quarter. Jana Partners LLC now owns 1,148,898 shares of the company’s stock valued at $65,682,000 after purchasing an additional 381,778 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Pinnacle Foods by 8.6% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,038,372 shares of the company’s stock valued at $59,364,000 after purchasing an additional 82,202 shares during the period. Finally, California Public Employees Retirement System boosted its position in shares of Pinnacle Foods by 7.6% in the 3rd quarter. California Public Employees Retirement System now owns 297,918 shares of the company’s stock valued at $17,032,000 after purchasing an additional 21,018 shares during the period. 95.21% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Foods (NYSE PF) opened at $59.01 on Friday. The stock has a market capitalization of $7,020.00, a PE ratio of 39.87, a PEG ratio of 2.70 and a beta of 0.33. Pinnacle Foods has a 1 year low of $52.51 and a 1 year high of $66.67. The company has a current ratio of 1.80, a quick ratio of 0.81 and a debt-to-equity ratio of 1.49.

Pinnacle Foods (NYSE:PF) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. The business had revenue of $749.80 million during the quarter, compared to analysts’ expectations of $753.10 million. Pinnacle Foods had a return on equity of 14.63% and a net margin of 5.65%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. equities research analysts predict that Pinnacle Foods will post 2.55 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Tuesday, December 19th were given a $0.325 dividend. The ex-dividend date was Monday, December 18th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 2.20%. Pinnacle Foods’s dividend payout ratio (DPR) is presently 87.84%.

Several research firms have recently issued reports on PF. Credit Suisse Group set a $67.00 price objective on Pinnacle Foods and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research raised Pinnacle Foods from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research report on Tuesday, October 17th. Finally, Buckingham Research lowered their price objective on Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, October 27th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Pinnacle Foods currently has an average rating of “Buy” and a consensus price target of $65.27.

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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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