Premier Foods sees strong Q3, raises profit guidance By Investing.com
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 21 2025
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Source: Investing.com
Strong Financial Performance: Premier Foods reported a 3.1% increase in group sales and a 4.6% rise in branded sales for the third quarter, driven by strong Christmas season demand, particularly in its Sweet Treats division with Mr Kipling achieving record sales.
Positive Growth Outlook: The company anticipates full-year trading profit at the upper end of guidance, supported by successful expansion into new categories and international markets, which saw a 29% growth in overseas sales and a 38% increase in new category sales.
Analyst Views on PFD
Wall Street analysts forecast PFD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PFD is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 11.820
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Current: 11.820
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About PFD
Flaherty & Crumrine Preferred & Income Fund Inc. (the Fund) is a diversified, closed-end management investment company. The Fund’s investment objective is to provide its common shareholders with high current income consistent with the preservation of capital. The Fund's invests in a portfolio of preferred securities. Under normal market conditions, the Fund invests at least 80% of its managed assets in a portfolio of preferred and other income-producing securities. Preferred and other income-producing securities include traditional preferred stock, trust preferred securities, hybrid securities that have characteristics of both equity and debt securities, contingent capital securities (CoCos), subordinated debt and senior debt. The Fund invests at least 25% of its total assets in the financial sector, which comprises banks, financial services, consumer finance, and brokerage and real estate investment trust industries. Flaherty & Crumrine Incorporated is the Fund's investment advisor.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
