Sit Investment Associates Inc. Purchases 300,875 Shares of Pinnacle Foods Inc (PF)

Sit Investment Associates Inc. lifted its position in shares of Pinnacle Foods Inc (NYSE:PF) by 1,202.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 325,900 shares of the company’s stock after purchasing an additional 300,875 shares during the period. Sit Investment Associates Inc.’s holdings in Pinnacle Foods were worth $19,381,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Pinnacle Foods by 7.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,691 shares of the company’s stock worth $279,000 after purchasing an additional 317 shares in the last quarter. M&T Bank Corp lifted its position in shares of Pinnacle Foods by 34.0% during the second 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 in the last quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO acquired a new position in shares of Pinnacle Foods during the third quarter worth $294,000. Institute for Wealth Management LLC. acquired a new position in shares of Pinnacle Foods during the second quarter worth $367,000. Finally, Icon Advisers Inc. Co. acquired a new position in shares of Pinnacle Foods during the second quarter worth $445,000. 95.21% of the stock is currently owned by institutional investors and hedge funds.

Shares of Pinnacle Foods Inc (NYSE PF) opened at $59.09 on Thursday. The company has a quick ratio of 0.81, a current ratio of 1.80 and a debt-to-equity ratio of 1.49. The stock has a market cap of $7,030.00, a price-to-earnings ratio of 39.93, a P/E/G ratio of 2.70 and a beta of 0.33. Pinnacle Foods Inc has a 12 month low of $52.49 and a 12 month high of $66.67.

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

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Tuesday, December 19th were paid a $0.325 dividend. The ex-dividend date of this dividend was Monday, December 18th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 2.20%. Pinnacle Foods’s dividend payout ratio (DPR) is presently 87.84%.

A number of research analysts have recently commented on the stock. Credit Suisse Group reissued an “outperform” rating and set a $67.00 target price (up from $60.00) on shares of Pinnacle Foods in a research report on Wednesday. Zacks Investment Research cut shares of Pinnacle Foods from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Finally, Buckingham Research reduced their target price on shares of Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Pinnacle Foods currently has a consensus rating of “Buy” and an average price target of $65.27.

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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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