Teachers Advisors LLC trimmed its holdings in Pinnacle Foods, Inc. (NYSE:PF) by 5.6% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 2,510,389 shares of the company’s stock after selling 149,960 shares during the period. Teachers Advisors LLC owned approximately 2.11% of Pinnacle Foods worth $149,117,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Riverhead Capital Management LLC purchased a new position in Pinnacle Foods in the second quarter worth approximately $837,000. Capital Fund Management S.A. grew its position in Pinnacle Foods by 321.5% in the second quarter. Capital Fund Management S.A. now owns 323,045 shares of the company’s stock worth $19,189,000 after acquiring an additional 246,400 shares during the period. Martingale Asset Management L P grew its position in Pinnacle Foods by 21.6% in the second quarter. Martingale Asset Management L P now owns 375,182 shares of the company’s stock worth $22,286,000 after acquiring an additional 66,700 shares during the period. Franklin Resources Inc. grew its position in Pinnacle Foods by 2.4% in the second quarter. Franklin Resources Inc. now owns 2,121,315 shares of the company’s stock worth $126,014,000 after acquiring an additional 50,478 shares during the period. Finally, CIBC World Markets Inc. grew its position in Pinnacle Foods by 308.8% in the second quarter. CIBC World Markets Inc. now owns 206,002 shares of the company’s stock worth $12,237,000 after acquiring an additional 155,615 shares during the period. Institutional investors own 95.41% of the company’s stock.
Several research analysts recently weighed in on PF shares. Zacks Investment Research upgraded Pinnacle Foods from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Tuesday, June 27th. BMO Capital Markets restated a “buy” rating and set a $63.00 price target on shares of Pinnacle Foods in a research note on Tuesday, June 27th. BidaskClub cut Pinnacle Foods from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Berenberg Bank assumed coverage on Pinnacle Foods in a research note on Tuesday, May 16th. They set a “buy” rating and a $68.00 price target on the stock. Finally, UBS AG restated a “buy” rating and set a $65.00 price target on shares of Pinnacle Foods in a research note on Monday, August 28th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $65.36.
In other Pinnacle Foods news, CFO Craig D. Steeneck sold 33,095 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $59.61, for a total value of $1,972,792.95. Following the transaction, the chief financial officer now owns 204,364 shares in the company, valued at approximately $12,182,138.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mark L. Schiller sold 17,038 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $60.61, for a total transaction of $1,032,673.18. Following the completion of the transaction, the executive vice president now owns 74,832 shares in the company, valued at approximately $4,535,567.52. The disclosure for this sale can be found here. Insiders sold a total of 151,912 shares of company stock worth $9,037,020 in the last quarter. 1.34% of the stock is currently owned by company insiders.
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Shares of Pinnacle Foods, Inc. (PF) traded down 0.20% during mid-day trading on Tuesday, hitting $59.59. The stock had a trading volume of 187,307 shares. The stock has a market cap of $7.08 billion, a P/E ratio of 38.82 and a beta of 0.35. The company’s 50 day moving average price is $59.85 and its 200 day moving average price is $59.39. Pinnacle Foods, Inc. has a 12-month low of $46.36 and a 12-month high of $66.67.
Pinnacle Foods (NYSE:PF) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Pinnacle Foods had a net margin of 5.82% and a return on equity of 14.47%. The firm had revenue of $744.61 million for the quarter, compared to analyst estimates of $764.41 million. During the same quarter in the previous year, the business posted $0.42 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. Equities research analysts predict that Pinnacle Foods, Inc. will post $2.56 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 9th. Shareholders of record on Tuesday, August 29th will be issued a $0.325 dividend. The ex-dividend date is Friday, August 25th. This represents a $1.30 dividend on an annualized basis and a yield of 2.18%. This is a positive change from Pinnacle Foods’s previous quarterly dividend of $0.29. Pinnacle Foods’s payout ratio is currently 84.97%.
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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