HBK Investments L P boosted its stake in Pinnacle Foods Inc (NYSE:PF) by 20.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 255,376 shares of the company’s stock after buying an additional 43,876 shares during the period. HBK Investments L P owned approximately 0.21% of Pinnacle Foods worth $15,187,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of PF. State Board of Administration of Florida Retirement System raised its holdings in Pinnacle Foods by 4.5% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 108,896 shares of the company’s stock valued at $6,226,000 after buying an additional 4,710 shares during the period. Gabelli Funds LLC raised its holdings in Pinnacle Foods by 11.2% in the 3rd quarter. Gabelli Funds LLC now owns 101,400 shares of the company’s stock valued at $5,797,000 after buying an additional 10,200 shares during the period. Swiss National Bank raised its holdings in Pinnacle Foods by 0.9% in the 3rd quarter. Swiss National Bank now owns 198,480 shares of the company’s stock valued at $11,347,000 after buying an additional 1,700 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Pinnacle Foods by 307.1% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 284,122 shares of the company’s stock valued at $16,243,000 after buying an additional 214,336 shares during the period. Finally, Toronto Dominion Bank raised its holdings in Pinnacle Foods by 37.3% in the 3rd quarter. Toronto Dominion Bank now owns 515,000 shares of the company’s stock valued at $29,439,000 after buying an additional 140,000 shares during the period. Hedge funds and other institutional investors own 96.89% of the company’s stock.
Pinnacle Foods Inc (NYSE PF) opened at $57.70 on Tuesday. Pinnacle Foods Inc has a 52-week low of $52.81 and a 52-week high of $66.67. The company has a market capitalization of $6,849.14, a PE ratio of 12.97, a PEG ratio of 2.48 and a beta of 0.47. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.97 and a current ratio of 1.84.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 11th. Investors of record on Tuesday, February 27th will be issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Monday, February 26th. Pinnacle Foods’s dividend payout ratio (DPR) is 29.21%.
Several analysts recently issued reports on the stock. Piper Jaffray Companies initiated coverage on shares of Pinnacle Foods in a report on Tuesday. They issued a “buy” rating and a $64.00 price objective on the stock. Zacks Investment Research upgraded shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Friday. ValuEngine upgraded shares of Pinnacle Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Royal Bank of Canada reiterated a “buy” rating on shares of Pinnacle Foods in a research note on Friday, March 2nd. Finally, Buckingham Research set a $62.00 price target on shares of Pinnacle Foods and gave the stock a “buy” rating in a research note on Friday, March 2nd. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Pinnacle Foods presently has a consensus rating of “Buy” and an average target price of $64.58.
In other Pinnacle Foods news, Director Muktesh Pant purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, March 7th. The stock was purchased at an average cost of $56.93 per share, with a total value of $1,138,600.00. Following the completion of the acquisition, the director now directly owns 49,706 shares of the company’s stock, valued at approximately $2,829,762.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.34% of the company’s stock.
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Pinnacle Foods 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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