Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Pinnacle Foods Announces that the Condition for the Redemption of All of Pinnacle Foods Finance LLC and Pinnacle Foods Finance Corp.’s Outstanding $350,000,000 5.875% Senior Notes due 2024 Has Not Yet Been Satisfied PARSIPPANY, N.J., Oct. 23, 2018 (GLOBE NEWSWIRE) -- Pinnacle Foods Inc. (NYSE: PF) (“Pinnacle Foods”) previously announced its election to redeem (the “Redemption”) all outstanding 5.875% Senior Notes due 2024 (the “Notes”) of Pinnacle Foods Finance LLC and Pinnacle Foods Finance Corp. (together, the “Issuers”) pursuant to a notice of conditional full redemption dated October ...
Pinnacle Foods Announces that the Condition for the Redemption of All of Pinnacle Foods Finance LLC and Pinnacle Foods Finance Corp.’s Outstanding $350,000,000 5.875% Senior Notes due 2024 Has Not Yet Been Satisfied PARSIPPANY, N.J., Oct. 22, 2018 (GLOBE NEWSWIRE) -- Pinnacle Foods Inc. (“Pinnacle Foods”) today provided an update regarding the notice of conditional full redemption dated October 5, 2018 (the “Notice of Redemption”) to redeem all 5.875% Senior Notes due 2024 (the “Notes”) of Pinnacle Foods Finance LLC and Pinnacle Foods Finance Corp. (together, the “Issuers”). An aggregate...
Pinnacle Foods Announces its Election to Redeem All of Pinnacle Foods Finance LLC and Pinnacle Foods Finance Corp.’s Outstanding $350,000,000 5.875% Senior Notes due 2024 PARSIPPANY, N.J., Oct. 05, 2018 (GLOBE NEWSWIRE) -- Pinnacle Foods Inc. (NYSE: PF) (“Pinnacle Foods”) today announced its election to redeem (the “Redemption”) all outstanding 5.875% Senior Notes due 2024 (the “Notes”) of Pinnacle Foods Finance LLC and Pinnacle Foods Finance Corp. (together, the “Issuers”) pursuant to a notice of conditional full redemption dated October 5, 2018 (the “Notice of Redemption”). An aggregat...
The independent financial analyst theScreener just lowered the general evaluation of PINNACLE FOODS INCO. (US), active in the Food Products industry. As regards its fundamental valuation, the title now shows 1 out of 4 stars while market behaviour can be considered defensive. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Neutral. As of the analysis date September 28, 2018, the closing price was USD 64.81 and its t...
Pinnacle Foods Inc. Declares Quarterly Dividend PARSIPPANY, N.J., Aug. 22, 2018 (GLOBE NEWSWIRE) -- Pinnacle Foods Inc. (NYSE: PF) announced today that its Board of Directors has declared a quarterly cash dividend of $0.325 per share, payable on October 15, 2018 to all common stockholders of record at the close of business on September 4, 2018. Pinnacle Foods ContactJennifer HalchakVice President, Investor Relations973-541-8629 About Pinnacle Foods Inc.Pinnacle Foods Inc. (NYSE: PF) is a leading manufacturer, marketer and distributor of high-quality branded food products with a mission ...
After it posted second-quarter results, we are maintaining our $66 per share valuation for no-moat Pinnacle Foods. The company’s pending acquisition by narrow-moat Conagra for $43.11 in cash and 0.6494 shares of the acquirer's stock remains on track, and Pinnacle continues to expect the transaction to close by the end of the year. We continue to see the acquisition thesis as intact--Conagra will become the number two player in the domestic frozen food category while strengthening its brand por...
After it posted second-quarter results, we are maintaining our $66 per share valuation for no-moat Pinnacle Foods. The company’s pending acquisition by narrow-moat Conagra for $43.11 in cash and 0.6494 shares of the acquirer's stock remains on track, and Pinnacle continues to expect the transaction to close by the end of the year. We continue to see the acquisition thesis as intact--Conagra will become the number two player in the domestic frozen food category while strengthening its brand por...
Pinnacle Foods Inc. Reports Q2 2018 Results Company Reaffirms Full-Year EPS Guidance PARSIPPANY, N.J., Aug. 02, 2018 (GLOBE NEWSWIRE) -- Pinnacle Foods Inc. (NYSE:PF) today reported its financial results for the second quarter ended July 1, 2018 and reaffirmed its guidance for Adjusted diluted earnings per share (EPS) for the year of $2.85 to $2.95. Diluted EPS in the second quarter of 2018, including items affecting comparability1, increased to $0.47 versus $0.16 in the year-ago period. Excluding items affecting comparability, Adjusted diluted EPS advanced 11.3% to $0.59, compared to ...
Pinnacle Foods Inc. Affirms its Full Year EPS Guidance Company to report second quarter results on August 2, 2018 PARSIPPANY, N.J., July 25, 2018 (GLOBE NEWSWIRE) -- Pinnacle Foods Inc. (NYSE:PF) today affirmed its full year Adjusted diluted earnings per share guidance of $2.85 to $2.95. Mark Clouse, Pinnacle Foods Chief Executive Officer, commented, “For the second quarter, the Company expects to report approximately $0.47 of diluted EPS or approximately $0.59 of Adjusted diluted EPS. We look forward to sharing more details about our second quarter performance, which shaped up very ...
Wish Bone Salad Dressing Issues Allergy Alert on Undeclared Milk and Egg in 15 oz. Wish-Bone House Italian Salad Dressing PARSIPPANY, N.J., June 28, 2018 (GLOBE NEWSWIRE) -- Pinnacle Foods Inc. is voluntarily recalling a limited quantity of Wish Bone House Italian Salad Dressing 15 oz. with the health and safety of our consumers as our top priority. The recall was initiated after learning from a retail customer that a limited number of bottles were mislabeled. The product contains milk and egg, known allergens not declared on the bottle. People who have an allergy or severe sensitivity to...
Narrow-moat Conagra’s fiscal 2018 results (which included 1.4% sales growth and 13% operating margins) were overshadowed by the news that after years of speculation it's adding no-moat Pinnacle to its mix in a $10.9 billion deal (equating to $68 per share). The transaction is structured such that Pinnacle shareholders will receive $43.11 per share in cash and 0.6494 shares of Conagra's stock per share of Pinnacle held. This suggests an adjusted EBITDA multiple of 15.8 times Pinnacle’s estima...
Narrow-moat Conagra’s fiscal 2018 results (which included 1.4% sales growth and 13% operating margins) were overshadowed by the news that after years of speculation it's adding no-moat Pinnacle to its mix in a $10.9 billion deal (equating to $68 per share). The transaction is structured such that Pinnacle shareholders will receive $43.11 per share in cash and 0.6494 shares of Conagra's stock per share of Pinnacle held. This suggests an adjusted EBITDA multiple of 15.8 times Pinnacle’s estima...
With first-quarter results (2% sales growth, 10 basis points of adjusted operating margin contraction, to 15.6%) leaving our full-year targets (flat sales, 50 basis points of adjusted operating margin expansion) in reach, our $56 per share valuation for no-moat Pinnacle should not change materially. Our long-term outlook, calling for low-single-digit sales growth and adjusted operating margins of around 20%, is intact. Results were strong in Pinnacle’s frozen unit (over 40% of sales), which sa...
With first-quarter results (2% sales growth, 10 basis points of adjusted operating margin contraction, to 15.6%) leaving our full-year targets (flat sales, 50 basis points of adjusted operating margin expansion) in reach, our $56 per share valuation for no-moat Pinnacle should not change materially. Our long-term outlook, calling for low-single-digit sales growth and adjusted operating margins of around 20%, is intact. Results were strong in Pinnacle’s frozen unit (over 40% of sales), which sa...
We do not plan to alter our $56 per share valuation for no-moat Pinnacle Foods in the wake of news that activist investor Jana Partners has accumulated a nearly 10% stake in the firm. Still, we believe the news suggests upside potential, particularly if long-standing sale rumors are realized for an asset that we estimate could garner a roughly 30% premium to pre-Jana-disclosure trading levels. Jana (which is pushing for a sale but may also seek an altered board composition or cost structure) has...
Short Shots is a collection of technically vulnerable charts culled from the Negative Inflecting and Toppy columns within our Weekly Compass report or from various technical screening processes. The charts contained in this report have developed concerning technical patterns that suggest further price deterioration is likely. For these reasons Short Shots can also be a great source of ideas for investors interested in short-selling candidates.
Our $54 per share valuation for no-moat Pinnacle should not change materially after it posted on-track fourth-quarter results. Our long-term outlook, calling for low-single-digit sales growth and adjusted operating margins of around 20%, is intact. Pinnacle saw $3.14 billion in sales and adjusted EBIT of $569 million (18.1% margin), near our $3.16 billion and $572 million (18.1% margin) 2017 targets. The firm saw its market share rise by 0.5 points and increased consumption by 2.4%, which was im...
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