It is Time to “Neutral” Pinnacle Foods (NYSE:PF), DA Davidson Says. Stock May Be Worth $47


Why Has DA Davidson Given Pinnacle Foods (NYSE:PF) a $47 Price Target

Expert analysts at DA Davidson has given issued a key “Neutral” rating for Pinnacle Foods (NYSE:PF). The firm initiated coverage in a note sent to investors and clients on Friday, 11 December. The target price may suggest upside of 9.81% from the closing share price.

From a total of 11 analysts covering Pinnacle Foods Inc (NYSE:PF) stock, 6 rate it a ”Buy”, 0 a “Sell”, and 7 a ”Hold”. This means that 46% of the ratings are positive. The highest target price is $50 while the lowest target price is $42. The mean of all analyst targets is $47.09 with a 6.31% above today’s ($42.8) stock price. Pinnacle Foods Inc was the topic of 3 analyst reports since October 19, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on November 25 with “Outperform” rating. Buckingham Research initiated PF stock in a recent report from October 19 with “Neutral” rating.

The stock decreased 1.15% or $0.5 during the last trading session, striking $42.8. Approximately shares of stock traded hands. Pinnacle Foods Inc (NYSE:PF) has risen 4.31% since May 8, 2015 and is uptrending. It has outperformed by 7.33% the S&P500.

The overall sentiment of institutions has increased to 1.44 in Q2 2015. Its up 0.10, from 1.34 in 2015Q2. The ratio improved, as 32 institutions have sold all the shares of Pinnacle Foods Inc that they owned while 78 funds have taken shares off the table. 51 funds have purchased shares for the first time while 107 added to their positions. These institutions now hold 100.90 million shares or 9.76% less than the 111.82 million shares they owned in 2015Q2.

The Fund Ratan Capital Management Lp currently is holding shares equating to 9.15% of its total portfolio in Pinnacle Foods Inc representing a total of 999,330 shares. Another fund,Numina Capital Management Llc, is holding a total of 233,300 shares equating to 3.06% of their holdings. Additionally, Levin Capital Strategies L.P. has a 4.17 million share stake in Pinnacle Foods Inc which represents 2.98% of their total portfolio. The Fund, Three Peaks Capital Management Llc, based out of Colorado, has also built up a stake in the stock, which represents a total of 2.66% of their total portfolio. Finally Maverick Capital Ltd, a fund which is based in the state of Texas reported a total holdings of 3.69 million shares.

Pinnacle Foods Inc. is a manufacturer, marketer and distributor of food products in North America. The company has a market cap of $5.05 billion. 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. It has 29.6 P/E ratio. The Firm operates through three divisions: the Birds Eye Frozen segment, the Duncan Hines Grocery segment and the Specialty Foods segment.

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.” Get a free copy of the Zacks research report on Pinnacle Foods Inc (PF).