Hsbc Holdings PLC grew its stake in Pinnacle Foods Inc (NYSE:PF) by 1,186.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,212 shares of the company’s stock after purchasing an additional 82,278 shares during the period. Hsbc Holdings PLC’s holdings in Pinnacle Foods were worth $5,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of PF. Fort L.P. purchased a new position in Pinnacle Foods in the second quarter worth approximately $123,000. NumerixS Investment Technologies Inc purchased a new position in Pinnacle Foods in the second quarter worth approximately $130,000. Signition LP purchased a new position in Pinnacle Foods in the second quarter worth approximately $201,000. Engineers Gate Manager LP purchased a new position in Pinnacle Foods in the second quarter worth approximately $202,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Pinnacle Foods in the second quarter worth approximately $205,000. Institutional investors and hedge funds own 94.33% of the company’s stock.
Shares of Pinnacle Foods stock opened at $66.66 on Friday. Pinnacle Foods Inc has a fifty-two week low of $52.25 and a fifty-two week high of $70.51.
Several research analysts recently weighed in on PF shares. Zacks Investment Research lowered Pinnacle Foods from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Jefferies Financial Group lowered Pinnacle Foods from a “buy” rating to a “hold” rating and set a $68.00 price objective for the company. in a research report on Monday, October 15th. ValuEngine upgraded Pinnacle Foods from a “hold” rating to a “buy” rating in a research report on Monday, October 8th. Finally, Piper Jaffray Companies lowered Pinnacle Foods from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $69.00 to $68.00 in a research report on Monday, September 24th. Thirteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $67.20.
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Pinnacle Foods Company Profile
Pinnacle Foods Inc manufactures, markets, and distributes branded convenience food products in North America. It operates through four segments: Frozen, Grocery, Boulder, and Specialty. The Frozen segment offers frozen vegetables, frozen complete bagged meals, frozen prepared seafood, frozen and refrigerated bagels, frozen pizza, and full-calorie single-serve frozen dinners and entrées under the Birds Eye, Birds Eye Voila!, Van de Kamp's, Mrs.
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