Pinnacle Foods IPO Closes Out First Quarter

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Pinnacle Foods' IPO debuted at $20 a share yesterday, closing out a solid month and an even better first quarter for initial public offerings.

Eleven companies went public in March, bringing the Q1 IPO tally to 31. That trails last year's first-quarter total of 42, and is a tick below the 2011 total (32). However, it's still the third-busiest first quarter for IPOs since 2007.

Pinnacle Foods ( PF ), a leading frozen foods company, closed out the quarter with a bang. The stock was up 11% in its IPO despite pricing at the high end of its expected range, and shares haven't slowed a bit in Day 2. The stock, listed on the New York Stock Exchange under the ticker symbol "PF", had climbed another 13% as of 11 a.m. eastern time.


Part of the appeal of the Pinnacle Foods IPO is the promise of a dividend. The company intends to offer a quarterly dividend of 18 cents per share - a 3.2% yield at its current share price of $22.50 a share.

Two more IPOs are set to price next week: Harvard Apparatus Regenerative Technology, a regenerative medicine company that developed a synthetic replacement trachea, and Independent Bank Group , a North Texas-based bank with 30 chains.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Stocks

Referenced Stocks: PF

Wyatt Investment Research

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