Earnings Alert: Pinnacle Foods Inc (NYSE:PF), Bridgford Foods Corporation (NASDAQ:BRID), Aoxin Tianli Group Inc (NASDAQ:ABAC)

Pinnacle Foods Inc (NYSE:PF) reported the plunge of -0.85% and closed at $50.24, with the total traded volume of 667,297.00 shares. During last trade its minimum price was $50.12 and it gained its highest price of $50.72 and has a total of 117.98 million outstanding shares.

Pinnacle Foods Inc (NYSE:PF) on August 19, 2016 announced plans to relocate EVOL manufacturing operations to an existing Pinnacle facility in Fayetteville, AR. The EVOL brand has outgrown its current manufacturing site in Boulder, CO, and the Fayetteville location has the necessary capacity to accommodate the business. Select products will continue to be produced at strategic contract manufacturers with specialized capabilities. Pinnacle anticipates the EVOL plant will close in the first quarter of 2017.

The approximately 85 affected employees at the EVOL facility will be encouraged to apply for open positions at other Pinnacle facilities, including at a nearby facility in Denver, CO. Pinnacle will provide pay continuation for a period of time for eligible employees, employee assistance support and will also connect employees with career support services. A minimum of 60 days’ notice prior to final closure of the plant will be provided to employees.

Pinnacle will be investing in the Fayetteville facility to upgrade existing manufacturing capabilities and expects to hire approximately 25 new full-time employees to support the added capacity. The state of Arkansas has committed support to Pinnacle in the form of grants and incentives in recognition of the economic benefit of Pinnacle’s expansion in Fayetteville.

Bridgford Foods Corporation (NASDAQ:BRID) reported the decline of -5.19%, after closing price for the day was $15.71. Its total trading volume for the day was 575.00 shares, versus its average volume of 3,010.00 shares. Its earnings per share are $1.78.

Bridgford Foods Corporation (NASDAQ:BRID), together with its subsidiaries, manufactures, markets, and distributes frozen and snack food products in the United States. The company’s food products primarily include biscuits, bread dough items, roll dough items, dry sausage products, and beef jerky. It offers approximately 160 frozen food products to retail outlets, restaurants, and institutions through wholesalers, cooperatives, and distributors; and approximately 90 snack food items to supermarkets, and mass merchandise and convenience retail stores through customer owned distribution centers, as well as a direct store delivery network. The company was founded in 1932 and is based in Anaheim, California.

Aoxin Tianli Group Inc (NASDAQ:ABAC) showing jumped of +7.53% and closed at $0.807, after gaining total volume of 162,895.00 shares. Its earnings per share (EPS) is $0.14 and its beta value stands at 2.74 points and has total market capitalization of $23.86 million and a total of 31.95 million outstanding shares.

Aoxin Tianli Group Inc (NASDAQ:ABAC) on August 22, 2016 announced that it had signed a sales agreement (the “Agreement”) with Shangzhi Xiaop (Dalian) E-Commerce Co., Ltd. (“Xiaop”) to sell the Company’s Tianli-Xiduhei™ black hog pork products through Xiaop’s group-buying web portal www.ixiaop.com (the “Ixiaop.com”). The Agreement has a one year term, effective as of August 19, 2016, and can be automatically extended for successive one-year periods.

Mr. Wocheng Liu, Chairman and Co-Chief Executive Officer of Aoxin Tianli commented, “With the increasing popularity of online shopping, especially group buying in China, we believe that Ixiaop.com could potentially open up tremendous opportunities for our retail business. As an emerging online group buying site in China, Ixiaop.com is the sister site of www.popular.com.tw, a top-3 ranked online group buying site in Taiwan. Our branded specialty black hog pork products are now available for sale at http://www.ixiaop.com/.”

Stock to Watch: Aoxin Tianli (NASDAQ:ABAC), Tofutti Brands (NYSEMKT:TOF), Pinnacle Foods (NYSE:PF)

Tofutti Brands Inc. (NYSEMKT:TOF) reported the surge of +1.94% and closed at $2.68, with the total traded volume of 4,761.00 shares. During last trade its minimum price was $2.63 and it gained its highest price of $2.69 and has a total of 5.15 million outstanding shares.

Tofutti Brands Inc. (NYSEMKT:TOF) on August 16, 2016 announced its results for the thirteen and twenty-six week periods ended July 2, 2016.

Tofutti Brands reported net sales for the thirteen weeks ended July 2, 2016 of $3,554,000, a decrease of $70,000, or 2%, compared to net sales of $3,624,000 for the thirteen weeks ended June 27, 2015. The Company’s gross profit and gross profit percentage for the thirteen week period ending July 2, 2016 were approximately $1,184,000 and 33%, respectively, compared to $1,076,000 and 30%, respectively, for the period ending June 27, 2015. The increase in the gross profit and gross profit percentage in the 2016 thirteen week period was due primarily to the reduction in sales allowance expense. The Company had net income of $194,000, or $0.04 per share (basic and diluted), for the thirteen weeks ended July 2, 2016, compared to a net loss of $24,000, or $0 per share (basic and diluted), for the thirteen weeks ended June 27, 2015.

Net sales for the twenty-six week period ended July 2, 2016  were $7,296,000, an increase of $529,000, or 8%, compared to net sales of $6,767,000 for the twenty-six week period ended June 27, 2015. The Company’s gross profit and gross profit percentage for the twenty-six week period ending July 2, 2016 were  $2,423,000 and 33%, respectively, compared to $1,822,000 and 27%, respectively, for the period ending June 27, 2015.  The increase in the Company’s gross profit and gross profit percentage was due primarily to the increase in sales and the decrease in the Company’s promotional allowance programs in the twenty-six weeks ended July 2, 2016. The Company’s net income for the twenty-six weeks ended July 2, 2016 was $324,000, or $0.06 per share (basic and diluted), compared to a net loss of $401,000, or ($0.08) per share (basic and diluted), for the twenty-six weeks ended June 27, 2015.

Pinnacle Foods Inc (NYSE:PF) reported the decline of -0.55%, after closing price for the day was $50.67. Its total trading volume for the day was 870,876.00 shares, versus its average volume of 1.25 million shares. Its earnings per share are $1.68.

Pinnacle Foods Inc (NYSE:PF) on August 16, 2016 announced that its Board of Directors has approved an increase of approximately 12% in the Company’s quarterly cash dividend, from $0.255 per share to $0.285 per share, effective with the Company’s upcoming third quarter 2016 dividend. The upcoming dividend is payable on October 10, 2016 to shareholders of record at the close of business on August 30, 2016. On an annualized basis, the new dividend increases to $1.14 per share, from the previous annualized rate of $1.02 per share.

Aoxin Tianli Group Inc (NASDAQ:ABAC) showing dropped of -7.41% and closed at $0.750, after gaining total volume of 90,796.00 shares. Its earnings per share (EPS) is $0.14 and its beta value stands at 2.74 points and has total market capitalization of $24.59 million and a total of 31.95 million outstanding shares.

Aoxin Tianli Group Inc (NASDAQ:ABAC) primarily engages in hog farming business in the People’s Republic of China. It operates through two segments, Hog Farming and Retail. The Hog Farming segment offers black market hogs, black breeder hogs, and processed black pork products primarily to hog brokers, hog farmers, and slaughterhouses. The Retail segment sells specialty processed black hog products under the Xiduhei name through supermarkets, restaurants, hotels, and other retailers, as well as through the Internet. The company was formerly known as Tianli Agritech, Inc. and changed its name to Aoxin Tianli Group, Inc. in July 2014. Aoxin Tianli Group, Inc. was incorporated in 2009 and is headquartered in Wuhan, the People’s Republic of China.

Investor’s Watch List: Aoxin Tianli Group Inc (NASDAQ:ABAC), SYSCO Corporation (NYSE:SYY), Pinnacle Foods Inc (NYSE:PF)

Aoxin Tianli Group Inc (NASDAQ:ABAC) reported the surge of +10.66% and closed at $0.810, with the total traded volume of 114,014.00 shares. During last trade its minimum price was $0.79 and it gained its highest price of $0.89 and has a total of 31.95 million outstanding shares.

Aoxin Tianli Group Inc (NASDAQ:ABAC) on August 12, 2016 announced its financial results for the second quarter ended June 30, 2016.

Revenues for the second quarter of 2016 decreased by $0.24 million, or 2.4%, to $9.61 million from $9.85 million for the same period of last year. The decrease in revenues reflected a reduction in the number of regular hogs sold as a result of the sale of two hog farms during the third quarter of 2015 and was partially offset by an increase in the blended average selling price per hog.

Revenues from hog farming, which includes sales of regular breeder hogs, regular market hogs, and black hogs, decreased by $0.32 million, or 3.3%, to $9.23 million for the second quarter of 2016 from $9.55 million for the same period of last year. The Company sold a total of 33,834 regular breeder hogs, regular market hogs and black hogs with a blended average selling price of $273 per hog during the second quarter of 2016, compared to 40,970 hogs sold and a blended average selling price of $233 per hog for the same period of last year.

Revenues for the second quarter of 2016 from regular breeder hog sales decreased by 46.7% to $1.04 million with the number of regular breeder hogs sold decreasing by 43.0% to 4,096 hogs and the average selling price of regular breeder hogs decreasing by 6.6% to $253 per hog. Revenues for the second quarter of 2016 from regular market hog sales decreased by 10.2% to $3.83 million as the number of regular market hogs sold decreased by 22.7% to 15,960 hogs while the average selling price of regular market hogs increased by 16.5% to $240 per hog. Revenues for the second quarter of 2016 from black market hogs increased by 30.8% to $4.37 million with the number of black hogs sold increasing by 5.0% to 13,778 hogs and the average selling price of black hogs increasing by 24.8% to $317 per hog.

SYSCO Corporation (NYSE:SYY) reported the decline of -0.28%, after closing price for the day was $52.77. Its total trading volume for the day was 2.72 million shares, versus its average volume of 3.10 million shares. Its earnings per share are $1.64.

SYSCO Corporation (NYSE:SYY) on August 15, 2016 announced financial results for its 14-week fourth fiscal quarter and 53-week fiscal year 2016 ended July 2, 2016. In fiscal 2015, the fourth quarter included 13 weeks and the year included 52 weeks.

Fourth Quarter Fiscal 2016 Highlights

  • Sales increased 10.0% to $13.6 billion; on a comparable 13-week basis, sales increased 2.2%
  • Gross profit increased 12.7% to $2.5 billion; gross margin increased 44 basis points to 18.3%; on a comparable 13-week basis, gross profit increased 4.7%
  • Operating income increased 351.9% to $547 million; adjusted operating income increased 23.4% to $628 million; on a comparable 13-week basis, adjusted operating income increased 14.6%
  • Earnings Per Share (EPS) increased $0.26 to $0.38; adjusted EPS increased $0.12 to $0.64; on a comparable 13-week basis, adjusted EPS increased $0.08 to $0.60

Fiscal 2016 Highlights

  • Sales increased 3.5% to $50.4 billion; on a comparable 52-week basis, sales increased 1.5%
  • Gross profit increased 5.7% to $9.0 billion; gross margin increased 38 basis points to 17.9%; on a comparable 52-week basis, gross profit increased 3.6%
  • Operating income increased 50.5% to $1.9 billion; adjusted operating income increased 12.1% to $2.0 billion; on a comparable 52-week basis, adjusted operating income increased 9.6%
  • EPS increased $0.49 to $1.64; adjusted EPS increased $0.26 to $2.10; on a comparable 52-week basis, adjusted EPS increased $0.22 to $2.06

Pinnacle Foods Inc (NYSE:PF) showing jumped of +0.06% and closed at $50.95, after gaining total volume of 1.04 million shares. Its earnings per share (EPS) is $1.68 and its beta value stands at 0.34 points and has total market capitalization of $6.05 billion and a total of 117.98 million outstanding shares.

Pinnacle Foods Inc (NYSE:PF) on August 19, 2016 announced plans to relocate EVOL manufacturing operations to an existing Pinnacle facility in Fayetteville, AR. The EVOL brand has outgrown its current manufacturing site in Boulder, CO, and the Fayetteville location has the necessary capacity to accommodate the business. Select products will continue to be produced at strategic contract manufacturers with specialized capabilities. Pinnacle anticipates the EVOL plant will close in the first quarter of 2017.

“While it’s never an easy decision to close a manufacturing plant, this action will ensure the long-term success of the EVOL brand,” said Mike Wittman, Pinnacle Foods Executive Vice President and Chief Supply Chain Officer. “We are thankful to the employees at the EVOL plant and value the many contributions they have made to the business.”

 

Investor’s Watch List: Lancaster Colony Corp. (NASDAQ:LANC), Pinnacle Foods Inc (NYSE:PF), Aoxin Tianli Group Inc (NASDAQ:ABAC)

Lancaster Colony Corp. (NASDAQ:LANC) reported the surge of +0.51% and closed at $133.81, with the total traded volume of 102,259.00 shares. During last trade its minimum price was $132.27 and it gained its highest price of $134.29 and has a total of 27.42 million outstanding shares.

Lancaster Colony Corp. (NASDAQ:LANC) on August 18, 2016 reported results for the fourth quarter and fiscal year ended June 30, 2016.

Fourth Quarter Results

  • Net sales increased 2.4% to $284.5 million versus $277.7 million last year led by sales growth in the retail channel, including continued strength in Olive Garden® retail dressings and improved demand for Sister Schubert’s® frozen dinner rolls. Sales in the foodservice channel were flat as influenced by our business rationalization efforts within that channel and reduced contributions from national chain restaurant limited-time-offer programs versus the prior year. Pricing was a modest positive influence on net sales for the quarter, more so for retail than foodservice.
  • Operating income increased $7.8 million to $46.6 million on higher sales volumes and pricing; continued favorable input costs, particularly eggs, soybean oil, flour and packaging; and lower freight costs. In support of recent retail product introductions, product placement costs were higher compared to last year’s fourth quarter.
  • Net income totaled a fourth quarter record $30.6 million, or $1.12 per diluted share compared to $25.6 million or $.93 per diluted share last year.

Fiscal Year Results

  • Net sales increased 7.8% to a record $1,191 million versus $1,105 million last year. Excluding sales contributed by the Flatout® flatbread business that was acquired on March 13, 2015, comparative net sales increased 5.3% for the year. In addition to volume growth, sales benefited from pricing actions taken early in the fiscal year in response to higher egg costs that resulted from the U.S. avian influenza outbreak.
  • Operating income increased $29.7 million to a record $184.6 million as operating margins grew nearly 150 basis points, most notably due to the higher sales, reduced input costs in the second half of the fiscal year and lower freight costs.
  • Net income grew to $121.8 million compared to $101.7 million a year ago while earnings per diluted share increased 19.4% to $4.44 versus $3.72 last year.
  • The regular quarterly cash dividend was increased for the 53rd consecutive year. A $5 per share special dividend was also paid this past December. The special and regular cash dividends combined to total over $190 million returned to our shareholders in fiscal 2016.
  • The company’s balance sheet remained strong, with no debt outstanding and over $118 million in cash and equivalents as of June 30, 2016.

Pinnacle Foods Inc (NYSE:PF) reported the surge of +0.55%, after closing price for the day was $50.92. Its total trading volume for the day was 1.03 million shares, versus its average volume of 1.28 million shares. Its earnings per share are $1.68.

Pinnacle Foods Inc (NYSE:PF) on August 19, 2016 announced plans to relocate EVOL manufacturing operations to an existing Pinnacle facility in Fayetteville, AR. The EVOL brand has outgrown its current manufacturing site in Boulder, CO, and the Fayetteville location has the necessary capacity to accommodate the business. Select products will continue to be produced at strategic contract manufacturers with specialized capabilities. Pinnacle anticipates the EVOL plant will close in the first quarter of 2017.

The approximately 85 affected employees at the EVOL facility will be encouraged to apply for open positions at other Pinnacle facilities, including at a nearby facility in Denver, CO. Pinnacle will provide pay continuation for a period of time for eligible employees, employee assistance support and will also connect employees with career support services. A minimum of 60 days’ notice prior to final closure of the plant will be provided to employees.

Pinnacle will be investing in the Fayetteville facility to upgrade existing manufacturing capabilities and expects to hire approximately 25 new full-time employees to support the added capacity. The state of Arkansas has committed support to Pinnacle in the form of grants and incentives in recognition of the economic benefit of Pinnacle’s expansion in Fayetteville.

Aoxin Tianli Group Inc (NASDAQ:ABAC) showing jumped of +1.63% and closed at $0.789, after gaining total volume of 13,694.00 shares. Its earnings per share (EPS) is $0.14 and its beta value stands at 2.74 points and has total market capitalization of $25.82 million and a total of 31.95 million outstanding shares.

Aoxin Tianli Group Inc (NASDAQ:ABAC) primarily engages in hog farming business in the People’s Republic of China. It operates through two segments, Hog Farming and Retail. The Hog Farming segment offers black market hogs, black breeder hogs, and processed black pork products primarily to hog brokers, hog farmers, and slaughterhouses. The Retail segment sells specialty processed black hog products under the Xiduhei name through supermarkets, restaurants, hotels, and other retailers, as well as through the Internet. The company was formerly known as Tianli Agritech, Inc. and changed its name to Aoxin Tianli Group, Inc. in July 2014. Aoxin Tianli Group, Inc. was incorporated in 2009 and is headquartered in Wuhan, the People’s Republic of China.

Noteworthy Stocks to Watch for: Bloomin’ Brands Inc (NASDAQ:BLMN), Pinnacle Foods Inc (NYSE:PF), Mead Johnson Nutrition CO (NYSE:MJN)

Bloomin’ Brands Inc (NASDAQ:BLMN) increased +0.05% during last trading as the stock added $0.01 to finish the day at $19.32 with about 961,622.00 shares changing hands, compared to its three month average trading volume of 1.14M. The $2.16B market cap company, which fluctuated between $19.26 and $19.51 during the day, currently situated 31.10% above its 52 week low of $14.74 and -9.67% away from its one year high of $21.39. The RSI of 63.57 indicates the stock is overbought at the current levels, sell for now. Bloomin’ Brands, Inc. (Bloomin’ Brands) is a holding company engaged in operating casual dining restaurants. The Company has a portfolio of four restaurant concepts: Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and Fleming’s Prime Steakhouse & Wine Bar.

Pinnacle Foods Inc (NYSE:PF) gained $0.21 to close the day at a new closing price of $50.64, a 0.42% increase in value from its previous closing price that moved the stock 35.36% above its 52 week low of $37.41. A total of 955,698.00 shares exchanged hands during the day compared with its three month average trading volume of 1.28M. The stock, which fluctuated between $50.31 and $50.72 during the day, currently situated -1.54% below its 52 week high. The stock is up by 4.76% in the past one month and up by 21.82% over the past three months. With a one year target estimate of $53.71 and RSI of 68.38, the stock still has upside potential, making it a hold for now. Pinnacle Foods Inc. is a manufacturer, marketer and distributor of branded food products in North America. The Company operates through three segments: the Birds Eye Frozen segment, the Duncan Hines Grocery segment and the Specialty Foods segment.

Mead Johnson Nutrition CO (NYSE:MJN) had a light trading with around 959,581.00 shares changing hands compared to its three month average trading volume of 1.25M. The stock traded between $85.62 and $86.13 before closing at the price of $85.90 with 0.02% change on the day. The company is currently trading 32.46% above its 52 week low of $64.85 and -9.00% below its 52 week high of $94.40. Both the RSI indicator and target price of 36.85 and $95.60 respectively, lead us to believe that it could drop over the coming weeks. Mead Johnson Nutrition Company (Mead Johnson) is a pediatric nutrition company. The Company manufactures, distributes and sells infant formulas, children’s nutrition and other nutritional products.

Stocks Buzz: Williams Companies Inc (NYSE:WMB), Pinnacle Foods Inc (NYSE:PF), TreeHouse Foods Inc. (NYSE:THS)

Williams Companies Inc (NYSE:WMB) climbed 3.79% during last trading as the stock added $0.79 to finish the day at $21.63 with about 14.66M shares changing hands, compared to its three month average trading volume of 11.55M. The $ 16.39B market cap company, which fluctuated between $20.55 and $21.73 during the day, currently situated 126.11% above its 52 week low of $9.57 and -59.17% away from its one year high of $52.98. The RSI of 53.38 indicates the stock is overbought at the current levels, sell for now.

The Williams Companies, Inc. is an energy infrastructure company focused on connecting North America’s hydrocarbon resource plays to markets for natural gas, natural gas liquids and olefins. The Company’s segments include Williams Partners, Williams NGL & Petchem Services, and Other.

Pinnacle Foods Inc (NYSE:PF) gained $1.69 to close the day at a new closing price of $46.29, a 3.79% increase in value from its previous closing price that moved the stock 23.73% above its 52 week low of $37.41. A total of 2.14M shares exchanged hands during the day compared with its three month average trading volume of 1.12M. The stock, which fluctuated between $44.46 and $46.62 during the day, currently situated -0.97% below its 52 week high. The stock is down by 9.98% in the past one month and down by 2.84% over the past three months. With a one year target estimate of $48.54 and RSI of 74.57, the stock still has upside potential, making it a hold for now.

Pinnacle Foods Inc. is a manufacturer, marketer and distributor of branded food products in North America. The Company operates through three segments: the Birds Eye Frozen segment, the Duncan Hines Grocery segment and the Specialty Foods segment.

TreeHouse Foods Inc. (NYSE:THS) had a light trading with around 1.22M shares changing hands compared to its three month average trading volume of 797,614.00. The stock traded between $98.84 and $102.86 before closing at the price of $102.65 with 3.77% change on the day. The company is currently trading 54.83% above its 52 week low of $66.30 and 2.47% above its 52 week high of $100.18. Both the RSI indicator and target price of 73.72 and $102.54 respectively, lead us to believe that it could drop over the coming weeks.

TreeHouse Foods, Inc. is a consumer packaged food and beverage manufacturing company. The Company’s segments include North American Retail Grocery, Food Away From Home, and Industrial and Export. It manufactures a range of shelf stable, refrigerated and fresh products.