Pinnacle Foods Inc (PF) on Focus After Forming Bearish Ascending Triangle

September 17, 2017 - By Nellie Frank

Investors sentiment decreased to 1.07 in 2016 Q4. Its down 0.27, from 1.34 in 2016Q3. It turned negative, as 30 investors sold Pinnacle Foods Inc shares while 101 reduced holdings. 31 funds opened positions while 109 raised stakes. 113.24 million shares or 0.42% more from 112.77 million shares in 2016Q3 were reported.
Jefferies Group Ltd holds 30,914 shares or 0.01% of its portfolio. Pacad Inv Limited holds 0.11% of its portfolio in Pinnacle Foods Inc (NYSE:PF) for 16,500 shares. Dekabank Deutsche Girozentrale owns 4,100 shares. Pittenger And Anderson accumulated 1,000 shares. Kingdon Mgmt Limited Liability Com owns 218,077 shares or 0.56% of their US portfolio. Bluecrest Ltd holds 0.48% or 163,093 shares in its portfolio. Ellington Mngmt Llc, Connecticut-based fund reported 10,400 shares. Everpoint Asset Limited Liability Company reported 204,300 shares. Three Peaks Lc holds 188,579 shares or 1.56% of its portfolio. Swiss National Bank stated it has 193,980 shares or 0.02% of all its holdings. Westfield Cap Mgmt Co Limited Partnership holds 0.54% of its portfolio in Pinnacle Foods Inc (NYSE:PF) for 1.14 million shares. Eaton Vance Mgmt stated it has 2.01 million shares. Quantitative Investment Mgmt Limited Liability accumulated 77,000 shares. C M Bidwell & Associates Ltd has invested 0.96% in Pinnacle Foods Inc (NYSE:PF). Parkwood Limited Co holds 0.04% or 5,286 shares in its portfolio.

Since April 5, 2017, it had 0 buys, and 1 sale for $61,046 activity. BARKLEY MICHAEL J. sold 1,048 shares worth $61,046.

The stock of Pinnacle Foods Inc (PF) formed an ascending triangle with $54.70 target or 7.00 % below today’s $58.82 share price. The 6 months triangle pattern indicates high risk for the $6.99B company. If the $54.70 price target is reached, the company will be worth $489.30M less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock increased 0.53% or $0.31 on September 15, reaching $58.82. About 1.32 million shares traded or 26.92% up from the average. Pinnacle Foods Inc (NYSE:PF) has risen 41.67% since September 17, 2016 and is uptrending. It has outperformed by 24.97% the S&P500.

Wall Street await Pinnacle Foods Inc (NYSE:PF) to release earnings on October, 26. Analysts forecast earnings per share of $0.58, up exactly $0.05 or 9.43 % from 2014’s $0.53 EPS. The expected PF’s profit could reach $68.93M giving the stock 25.35 P/E in the case that $0.58 earnings per share is reported. After posting $0.53 EPS for the previous quarter, Pinnacle Foods Inc’s analysts now forecast 9.43 % EPS growth.

Pinnacle Foods Inc (NYSE:PF) Ratings Coverage

Among 13 analysts covering Pinnacle Foods Inc (NYSE:PF), 12 have Buy rating, 0 Sell and 1 Hold. Therefore 92% are positive. Pinnacle Foods Inc had 23 analyst reports since October 19, 2015 according to SRatingsIntel. The rating was initiated by Jefferies on Tuesday, April 11 with “Buy”. As per Monday, August 28, the company rating was maintained by UBS. Buckingham Research upgraded the shares of PF in report on Wednesday, March 2 to “Buy” rating. Deutsche Bank initiated the stock with “Buy” rating in Wednesday, February 15 report. 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 DA Davidson on Friday, December 11. BMO Capital Markets maintained the stock with “Buy” rating in Friday, July 28 report. As per Monday, June 26, the company rating was maintained by RBC Capital Markets. UBS upgraded it to “Buy” rating and $54 target in Monday, November 14 report. RBC Capital Markets maintained Pinnacle Foods Inc (NYSE:PF) on Wednesday, November 25 with “Outperform” rating.

More important recent Pinnacle Foods Inc (NYSE:PF) news were published by: Benzinga.com which released: “5 Ways M&A Could Be The Best Play For Pinnacle Foods” on August 28, 2017, also Globenewswire.com published article titled: “Pinnacle Foods to Present at Barclays Global Consumer Staples Conference”, Nasdaq.com published: “Pinnacle Foods (PF) Gains on Buyouts, Weak Segments a Woe” on September 05, 2017. More interesting news about Pinnacle Foods Inc (NYSE:PF) was released by: Nasdaq.com and their article: “Pinnacle Foods, Inc. (PF) Ex-Dividend Date Scheduled for August 25, 2017” with publication date: August 24, 2017.

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