Two Sigma Investments LP raised its stake in shares of Pinnacle Foods Inc (NYSE:PF) by 43.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 630,763 shares of the company’s stock after buying an additional 192,345 shares during the period. Two Sigma Investments LP owned about 0.53% of Pinnacle Foods worth $37,511,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of PF. Levin Capital Strategies L.P. lifted its stake in shares of Pinnacle Foods by 5.7% in the 4th quarter. Levin Capital Strategies L.P. now owns 3,900,551 shares of the company’s stock valued at $231,966,000 after purchasing an additional 209,845 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in shares of Pinnacle Foods by 9.9% in the 3rd quarter. Allianz Asset Management GmbH now owns 2,277,438 shares of the company’s stock valued at $130,201,000 after purchasing an additional 205,852 shares during the last quarter. Eaton Vance Management lifted its stake in shares of Pinnacle Foods by 7.5% in the 4th quarter. Eaton Vance Management now owns 2,016,338 shares of the company’s stock valued at $119,912,000 after purchasing an additional 141,270 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Pinnacle Foods by 22.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,438,368 shares of the company’s stock valued at $82,231,000 after purchasing an additional 264,005 shares during the last quarter. Finally, Jana Partners LLC raised its holdings in Pinnacle Foods by 49.8% in the 3rd quarter. Jana Partners LLC now owns 1,148,898 shares of the company’s stock worth $65,682,000 after acquiring an additional 381,778 shares during the period. 96.89% of the stock is owned by institutional investors.
Several brokerages recently commented on PF. Credit Suisse Group set a $67.00 target price on shares of Pinnacle Foods and gave the stock a “buy” rating in a report on Wednesday, January 10th. Piper Jaffray Companies began coverage on shares of Pinnacle Foods in a report on Tuesday. They issued an “overweight” rating and a $64.00 target price on the stock. Zacks Investment Research upgraded shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a report on Friday, March 9th. Royal Bank of Canada reiterated a “buy” rating on shares of Pinnacle Foods in a report on Friday, March 2nd. Finally, Buckingham Research set a $62.00 target price on shares of Pinnacle Foods and gave the stock a “buy” rating in a report on Friday, March 2nd. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $64.58.
Pinnacle Foods Inc (PF) opened at $57.13 on Wednesday. Pinnacle Foods Inc has a twelve month low of $52.81 and a twelve month high of $66.67. The company has a current ratio of 1.84, a quick ratio of 0.97 and a debt-to-equity ratio of 1.23. The stock has a market cap of $6,868.18, a PE ratio of 22.63, a PEG ratio of 2.49 and a beta of 0.47.
Pinnacle Foods (NYSE:PF) last posted its quarterly earnings data on Thursday, March 1st. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.01). Pinnacle Foods had a return on equity of 14.75% and a net margin of 16.92%. The company had revenue of $883.51 million for the quarter, compared to the consensus estimate of $896.53 million. During the same quarter in the previous year, the firm posted $0.79 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. equities research analysts forecast that Pinnacle Foods Inc will post 2.9 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 11th. Stockholders of record on Tuesday, February 27th will be issued a dividend of $0.325 per share. The ex-dividend date of this dividend is Monday, February 26th. This represents a $1.30 annualized dividend and a dividend yield of 2.28%. Pinnacle Foods’s payout ratio is 29.21%.
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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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