Price Action Report: Pinnacle Foods Inc Gap Up Today Means Lower Risks Forward

Price Action Report: Pinnacle Foods Inc Gap Up Today Means Lower Risks Forward

The stock of Pinnacle Foods Inc (NYSE:PF) gapped up by $0.7 today and has $62.47 target or 24.00% above today’s $50.38 share price. The 5 months technical chart setup indicates low risk for the $5.94B company. The gap was reported on Oct, 14 by Barchart.com. If the $62.47 price target is reached, the company will be worth $1.43 billion more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 994,541 shares traded hands. Pinnacle Foods Inc (NYSE:PF) has risen 8.25% since March 11, 2016 and is uptrending. It has outperformed by 2.79% the S&P500.

Analysts await Pinnacle Foods Inc (NYSE:PF) to report earnings on November, 3. They expect $0.52 EPS, up 13.04% or $0.06 from last year’s $0.46 per share. PF’s profit will be $61.31M for 24.22 P/E if the $0.52 EPS becomes a reality. After $0.42 actual EPS reported by Pinnacle Foods Inc for the previous quarter, Wall Street now forecasts 23.81% EPS growth.

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. The company was initiated on Friday, December 11 by DA Davidson. The rating was upgraded by Stifel Nicolaus on Friday, July 29 to “Buy”. The rating was upgraded by Buckingham Research to “Buy” on Wednesday, March 2. The company was maintained on Friday, July 29 by DA Davidson. The stock of Pinnacle Foods Inc (NYSE:PF) earned “Outperform” rating by RBC Capital Markets on Wednesday, November 25. The stock of Pinnacle Foods Inc (NYSE:PF) earned “Neutral” rating by Buckingham Research on Monday, October 19. The firm earned “Market Perform” rating on Friday, October 30 by BMO Capital Markets. The stock of Pinnacle Foods Inc (NYSE:PF) earned “Neutral” rating by UBS on Wednesday, February 24.

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 worsened, 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.
The Texas-based Qcm Cayman has invested 0.12% in Pinnacle Foods Inc (NYSE:PF). Carlson L P holds 1.39% of its portfolio in Pinnacle Foods Inc (NYSE:PF) for 2.41 million shares. Virginia Retirement Sys Et Al holds 0.01% or 8,700 shares in its portfolio. Fmr Lc has 150,200 shares for 0% of their US portfolio. Parametric Portfolio Assoc Limited Liability last reported 140,627 shares in the company. Martingale Asset Mngmt Ltd Partnership holds 0.3% of its portfolio in Pinnacle Foods Inc (NYSE:PF) for 390,569 shares. The Massachusetts-based Wellington Mgmt Gru Llp has invested 0% in Pinnacle Foods Inc (NYSE:PF). Blackrock Invest Management Lc has invested 0.01% of its portfolio in Pinnacle Foods Inc (NYSE:PF). State Of Alaska Department Of Revenue owns 4,511 shares or 0.02% of their US portfolio. Goldman Sachs Gru has 2.78 million shares for 0.04% of their US portfolio. Moreover, Cardinal Cap Limited Ct has 0.64% invested in Pinnacle Foods Inc (NYSE:PF) for 279,241 shares. The Australia-based Westpac Bk Corporation has invested 0% in Pinnacle Foods Inc (NYSE:PF). Schwab Charles Inv Mngmt holds 0.02% of its portfolio in Pinnacle Foods Inc (NYSE:PF) for 430,194 shares. Analytic Investors holds 0.75% or 1.37M shares in its portfolio. State Of Tennessee Treasury Department holds 0.02% or 70,114 shares in its portfolio.

Insider Transactions: Since June 8, 2016, the stock had 0 buys, and 12 insider sales for $9.98 million net activity. Another trade for 20,683 shares valued at $901,324 was sold by Steeneck Craig D.. Boever Christopher J. also sold $15,000 worth of Pinnacle Foods Inc (NYSE:PF) shares. 5,000 Pinnacle Foods Inc (NYSE:PF) shares with value of $220,000 were sold by Maggs Michael Kelley. Schiller Mark L. sold $15,001 worth of stock or 300 shares.

More news for Pinnacle Foods Inc (NYSE:PF) were recently published by: Benzinga.com, which released: “Pinnacle Foods Remains ConAgra’s Most Likely Takeover Target” on October 14, 2016. Equitiesfocus.com‘s article titled: “Pinnacle Foods, Inc. (NYSE:PF) Shareholders To Get Dividend Of $0.285” and published on October 13, 2016 is yet another important article.

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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