Swiss National Bank boosted its stake in Pinnacle Foods, Inc. (NYSE:PF) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 198,480 shares of the company’s stock after acquiring an additional 1,700 shares during the period. Swiss National Bank owned 166,761.89% of Pinnacle Foods worth $11,347,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of PF. First Quadrant L P CA acquired a new position in Pinnacle Foods in the 2nd quarter valued at about $122,000. World Asset Management Inc increased its position in Pinnacle Foods by 0.9% during the 2nd quarter. World Asset Management Inc now owns 4,289 shares of the company’s stock worth $255,000 after purchasing an additional 39 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Pinnacle Foods by 7.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,691 shares of the company’s stock worth $279,000 after purchasing an additional 317 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new position in Pinnacle Foods during the 3rd quarter worth approximately $294,000. Finally, M&T Bank Corp increased its position in Pinnacle Foods by 34.0% during the 2nd quarter. M&T Bank Corp now owns 5,014 shares of the company’s stock worth $300,000 after purchasing an additional 1,271 shares during the period. Hedge funds and other institutional investors own 93.61% of the company’s stock.
Shares of Pinnacle Foods, Inc. (NYSE:PF) opened at $55.88 on Tuesday. The company has a market capitalization of $6,650.00, a P/E ratio of 23.18, a PEG ratio of 2.73 and a beta of 0.31. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.81 and a current ratio of 1.80. Pinnacle Foods, Inc. has a 52 week low of $48.38 and a 52 week high of $66.67.
Pinnacle Foods (NYSE:PF) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.58 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. The business had revenue of $749.80 million for the quarter, compared to analyst estimates of $753.10 million. Pinnacle Foods had a return on equity of 14.63% and a net margin of 5.65%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.53 EPS. research analysts expect that Pinnacle Foods, Inc. will post 2.55 earnings per share for the current fiscal year.
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Several research firms have issued reports on PF. Zacks Investment Research cut Pinnacle Foods from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Credit Suisse Group dropped their target price on Pinnacle Foods from $64.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, October 27th. Buckingham Research dropped their target price on Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. UBS AG reiterated a “buy” rating and set a $65.00 target price on shares of Pinnacle Foods in a research report on Monday, August 28th. Finally, BidaskClub upgraded Pinnacle Foods from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $64.25.
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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