The stock of Pinnacle Foods Inc (NYSE:PF) hit a new 52-week high and has $86.45 target or 66.00% above today’s $52.08 share price. The 5 months bullish chart indicates low risk for the $6.15B company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $86.45 price target is reached, the company will be worth $4.06B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 328,749 shares traded hands. Pinnacle Foods Inc (NYSE:PF) has risen 13.75% since April 5, 2016 and is uptrending. It has outperformed by 11.79% the S&P500.
Pinnacle Foods Inc (NYSE:PF) Ratings Coverage
Out of 6 analysts covering Pinnacle Foods Inc (NYSE:PF), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. Pinnacle Foods Inc has been the topic of 8 analyst reports since October 19, 2015 according to StockzIntelligence Inc. DA Davidson maintained it with “Neutral” rating and $47 target price in Friday, July 29 report. The rating was maintained by BMO Capital Markets on Friday, October 30 with “Market Perform”. The stock has “Neutral” rating given by DA Davidson on Friday, December 11. As per Wednesday, November 25, the company rating was maintained by RBC Capital Markets. The firm has “Buy” rating given on Friday, July 29 by Stifel Nicolaus. The firm earned “Buy” rating on Wednesday, March 2 by Buckingham Research. The stock of Pinnacle Foods Inc (NYSE:PF) earned “Neutral” rating by Buckingham Research on Monday, October 19. The company was initiated on Wednesday, February 24 by UBS.
According to Zacks Investment Research, “Pinnacle Foods Inc. is a manufacturer, marketer and distributor of branded food products primarily in North America. The Company operates through three segments: the Birds Eye Frozen Division(R), the Duncan Hines Grocery Division(R) and the Specialty Foods Division(R). It also manufactures and distributes canned meat, shelf-stable pickles and frozen seafood. The Company sells its products through supermarkets, grocery wholesalers and distributors, mass merchandisers, super centres, convenience stores, dollar stores, drug stores and warehouse clubs. Pinnacle Foods Inc. is headquartered in Parsippany, New Jersey.”
Insitutional Activity: The institutional sentiment decreased to 1.1 in 2016 Q2. Its down 0.11, from 1.21 in 2016Q1. The ratio dropped, as 38 funds sold all Pinnacle Foods Inc shares owned while 88 reduced positions. 46 funds bought stakes while 93 increased positions. They now own 109.33 million shares or 0.60% less from 109.99 million shares in 2016Q1.
Carlson Cap Limited Partnership accumulated 1.39% or 2.41 million shares. Financial Bank Of Stockton has 25,480 shares for 0.63% of their US portfolio. First Manhattan Company holds 0% or 5,300 shares in its portfolio. Century has 0% invested in the company for 40,736 shares. Qs Invsts Lc, a New York-based fund reported 51,109 shares. The Alabama-based Regions Fin has invested 0.01% in Pinnacle Foods Inc (NYSE:PF). Caxton Assocs Limited Partnership holds 0.16% or 125,000 shares in its portfolio. The Massachusetts-based Westfield Capital Mgmt Lp has invested 0.12% in Pinnacle Foods Inc (NYSE:PF). State Of Wisconsin Board has invested 0.01% of its portfolio in Pinnacle Foods Inc (NYSE:PF). Jana Partners Limited Com accumulated 3.93M shares or 3.11% of the stock. Eaton Vance Mgmt reported 1.50 million shares or 0.2% of all its holdings. Da Davidson & last reported 0% of its portfolio in the stock. Deutsche Fincl Bank Ag accumulated 1.19 million shares or 0.04% of the stock. Hbk Invests Limited Partnership holds 9,832 shares or 0% of its portfolio. Fifth Third State Bank reported 356 shares or 0% of all its holdings.
Insider Transactions: Since June 8, 2016, the stock had 0 insider purchases, and 12 selling transactions for $9.98 million net activity. Maggs Michael Kelley sold $251,247 worth of stock or 5,000 shares. 3,664 shares with value of $186,901 were sold by Boever Christopher J. on Tuesday, August 23. $15,001 worth of Pinnacle Foods Inc (NYSE:PF) was sold by Schiller Mark L. on Monday, August 15. Steeneck Craig D. had sold 20,683 shares worth $901,324.
More recent Pinnacle Foods Inc (NYSE:PF) news were published by: Prnewswire.com which released: “Research Reports Initiation on Food Stocks — Blue Buffalo Pet Products …” on November 04, 2016. Also Foodbusinessnews.net published the news titled: “Pinnacle Foods expands leadership team” on October 27, 2016. Zacks.com‘s news article titled: “Pinnacle Foods (PF) to Report Q3 Earnings: What to Expect?” with publication date: October 24, 2016 was also an interesting one.
PF Company Profile
Pinnacle Foods Inc., incorporated on July 28, 2003, is a manufacturer, marketer and distributor of branded food products in North America. The Firm operates through three divisions: the Birds Eye Frozen segment, the Duncan Hines Grocery segment and the Specialty Foods segment. 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.
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