Quantitative Systematic Strategies LLC raised its stake in Pinnacle Foods, Inc. (NYSE:PF) by 35.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,983 shares of the company’s stock after buying an additional 11,606 shares during the period. Pinnacle Foods makes up about 0.7% of Quantitative Systematic Strategies LLC’s investment portfolio, making the stock its 19th largest position. Quantitative Systematic Strategies LLC’s holdings in Pinnacle Foods were worth $2,638,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Comerica Bank boosted its position in shares of Pinnacle Foods by 21.7% in the fourth quarter. Comerica Bank now owns 18,935 shares of the company’s stock worth $1,005,000 after buying an additional 3,371 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Pinnacle Foods by 27.9% in the first quarter. Prudential Financial Inc. now owns 9,620 shares of the company’s stock worth $557,000 after buying an additional 2,100 shares in the last quarter. FMR LLC boosted its stake in Pinnacle Foods by 45.7% in the first quarter. FMR LLC now owns 339,895 shares of the company’s stock worth $19,670,000 after buying an additional 106,623 shares in the last quarter. Invictus RG bought a new stake in Pinnacle Foods during the first quarter worth approximately $439,000. Finally, Macquarie Group Ltd. boosted its stake in Pinnacle Foods by 13.2% in the first quarter. Macquarie Group Ltd. now owns 946,301 shares of the company’s stock worth $54,762,000 after buying an additional 110,646 shares in the last quarter. Hedge funds and other institutional investors own 97.00% of the company’s stock.
Pinnacle Foods, Inc. (NYSE PF) traded up 0.93% on Friday, reaching $59.45. The company had a trading volume of 757,782 shares. The company has a 50-day moving average of $59.83 and a 200 day moving average of $58.50. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of 38.73 and a beta of 0.34. Pinnacle Foods, Inc. has a one year low of $46.36 and a one year high of $66.67.
Pinnacle Foods (NYSE:PF) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.01. The business had revenue of $744.61 million during the quarter, compared to the consensus estimate of $764.41 million. Pinnacle Foods had a return on equity of 14.47% and a net margin of 5.82%. Pinnacle Foods’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. On average, equities research analysts predict that Pinnacle Foods, Inc. will post $2.56 EPS for the current year.
A number of analysts recently commented on PF shares. Credit Suisse Group set a $62.00 price objective on Pinnacle Foods and gave the stock a “buy” rating in a research report on Thursday, April 20th. BidaskClub lowered Pinnacle Foods from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 3rd. Deutsche Bank AG raised their price target on Pinnacle Foods from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Royal Bank Of Canada reissued a “buy” rating and issued a $66.00 price target on shares of Pinnacle Foods in a research note on Friday, April 28th. Finally, Zacks Investment Research raised Pinnacle Foods from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company’s stock. Pinnacle Foods has an average rating of “Buy” and an average target price of $64.36.
In other Pinnacle Foods news, EVP Christopher J. Boever sold 26,682 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $59.02, for a total transaction of $1,574,771.64. Following the sale, the executive vice president now owns 66,296 shares of the company’s stock, valued at $3,912,789.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Craig D. Steeneck sold 33,095 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $59.61, for a total transaction of $1,972,792.95. Following the sale, the chief financial officer now directly owns 204,364 shares in the company, valued at approximately $12,182,138.04. The disclosure for this sale can be found here. Insiders have sold 134,739 shares of company stock worth $7,996,311 in the last ninety days. Insiders own 1.34% of the company’s stock.
About Pinnacle Foods
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America. The Company operates through four segments: Frozen segment, the Grocery segment, the Boulder segment and the Specialty segment. Its products are sold through supermarkets, grocery wholesalers and distributors, mass merchandisers, super centers, convenience stores, dollar stores, drug stores and warehouse clubs in the United States and Canada, as well as in military channels and foodservice locations.
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