State Board of Administration of Florida Retirement System increased its position in shares of Pinnacle Foods, Inc. (NYSE:PF) by 4.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,896 shares of the company’s stock after purchasing an additional 4,710 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.09% of Pinnacle Foods worth $6,226,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Prudential Financial Inc. increased its position in shares of Pinnacle Foods by 27.9% during the 1st quarter. Prudential Financial Inc. now owns 9,620 shares of the company’s stock worth $557,000 after purchasing an additional 2,100 shares in the last quarter. FMR LLC increased its position in Pinnacle Foods by 45.7% in the 1st quarter. FMR LLC now owns 339,895 shares of the company’s stock valued at $19,670,000 after acquiring an additional 106,623 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Pinnacle Foods in the 2nd quarter valued at about $13,544,000. Pacer Advisors Inc. increased its position in Pinnacle Foods by 2.9% in the 2nd quarter. Pacer Advisors Inc. now owns 17,498 shares of the company’s stock valued at $1,039,000 after acquiring an additional 489 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in Pinnacle Foods by 5.7% in the 2nd quarter. Neuberger Berman Group LLC now owns 956,170 shares of the company’s stock valued at $56,796,000 after acquiring an additional 51,906 shares in the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.
Shares of Pinnacle Foods, Inc. (NYSE PF) opened at $54.03 on Tuesday. Pinnacle Foods, Inc. has a 1 year low of $47.18 and a 1 year high of $66.67. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.81 and a current ratio of 1.80. The company has a market cap of $6,453.05, a P/E ratio of 22.59, a PEG ratio of 2.28 and a beta of 0.31.
Pinnacle Foods (NYSE:PF) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.58 EPS for the quarter, hitting the consensus estimate of $0.58. Pinnacle Foods had a net margin of 5.65% and a return on equity of 14.63%. The company had revenue of $749.80 million during the quarter, compared to analysts’ expectations of $753.10 million. During the same quarter in the previous year, the company earned $0.53 EPS. Pinnacle Foods’s revenue was down 1.2% on a year-over-year basis. research analysts expect that Pinnacle Foods, Inc. will post 2.55 earnings per share for the current year.
Several equities research analysts have weighed in on PF shares. Royal Bank Of Canada restated an “outperform” rating and issued a $67.00 price objective (up previously from $66.00) on shares of Pinnacle Foods in a research report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Pinnacle Foods from a “sell” rating to a “hold” rating in a research report on Monday, July 31st. Credit Suisse Group lowered their price objective on shares of Pinnacle Foods from $64.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, October 27th. UBS AG restated a “buy” rating and issued a $65.00 price objective on shares of Pinnacle Foods in a research report on Monday, August 28th. Finally, Buckingham Research lowered their price objective on shares of Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, October 27th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $64.25.
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In other news, EVP Mark L. Schiller sold 17,038 shares of Pinnacle Foods stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $60.61, for a total transaction of $1,032,673.18. Following the completion of the sale, the executive vice president now owns 74,832 shares in the company, valued at approximately $4,535,567.52. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.34% of the stock is owned by insiders.
Pinnacle Foods Company Profile
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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