Systematic Financial Management LP Reduces Holdings in Pinnacle Foods, Inc. (PF)

Systematic Financial Management LP decreased its position in shares of Pinnacle Foods, Inc. (NYSE:PF) by 2.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,015,445 shares of the company’s stock after selling 25,585 shares during the quarter. Pinnacle Foods makes up about 1.2% of Systematic Financial Management LP’s holdings, making the stock its 8th largest position. Systematic Financial Management LP owned 0.85% of Pinnacle Foods worth $58,053,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PF. BlueMountain Capital Management LLC grew its holdings in shares of Pinnacle Foods by 3,929.6% during the second quarter. BlueMountain Capital Management LLC now owns 1,223,518 shares of the company’s stock worth $72,677,000 after purchasing an additional 1,193,155 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Pinnacle Foods by 66.4% during the second quarter. Renaissance Technologies LLC now owns 2,559,700 shares of the company’s stock worth $152,046,000 after purchasing an additional 1,021,200 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Pinnacle Foods by 6.6% during the second quarter. Vanguard Group Inc. now owns 10,334,808 shares of the company’s stock worth $613,888,000 after purchasing an additional 640,620 shares during the last quarter. Capital World Investors grew its holdings in shares of Pinnacle Foods by 5.9% during the second quarter. Capital World Investors now owns 9,378,050 shares of the company’s stock worth $557,056,000 after purchasing an additional 525,000 shares during the last quarter. Finally, Davidson Kempner Capital Management LP purchased a new position in shares of Pinnacle Foods during the second quarter worth about $26,730,000. 93.61% of the stock is currently owned by institutional investors.

Shares of Pinnacle Foods, Inc. (NYSE:PF) traded down $0.31 during trading hours on Monday, reaching $55.63. 845,900 shares of the company were exchanged, compared to its average volume of 1,203,122. 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 firm has a market capitalization of $6,650.00, a P/E ratio of 23.18, a P/E/G ratio of 2.73 and a beta of 0.31. Pinnacle Foods, Inc. has a 1 year low of $48.38 and a 1 year high of $66.67.

Pinnacle Foods (NYSE:PF) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.58 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.58. The firm had revenue of $749.80 million during the quarter, compared to the consensus estimate of $753.10 million. Pinnacle Foods had a net margin of 5.65% and a return on equity of 14.63%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.53 earnings per share. analysts predict that Pinnacle Foods, Inc. will post 2.55 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a $67.00 target price (up previously from $66.00) on shares of Pinnacle Foods in a research note on Tuesday, July 25th. Zacks Investment Research upgraded shares of Pinnacle Foods from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. BidaskClub downgraded shares of Pinnacle Foods from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. UBS AG reiterated a “buy” rating and set a $65.00 target price on shares of Pinnacle Foods in a research note on Monday, August 28th. Finally, Credit Suisse Group decreased their target price on shares of Pinnacle Foods from $65.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday, October 4th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Pinnacle Foods currently has an average rating of “Buy” and a consensus price target of $64.25.

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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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Institutional Ownership by Quarter for Pinnacle Foods (NYSE:PF)

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