CIBC World Markets Inc. Has $2,334,000 Stake in Pinnacle Foods Inc. (PF)
CIBC World Markets Inc. lowered its stake in Pinnacle Foods Inc. (NYSE:PF) by 8.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,512 shares of the company’s stock after selling 4,428 shares during the period. CIBC World Markets Inc.’s holdings in Pinnacle Foods were worth $2,334,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Prudential Financial Inc. increased its position in shares of Pinnacle Foods by 5.2% in the first quarter. Prudential Financial Inc. now owns 8,020 shares of the company’s stock valued at $358,000 after buying an additional 400 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Pinnacle Foods by 32.8% in the first quarter. Envestnet Asset Management Inc. now owns 24,898 shares of the company’s stock valued at $1,112,000 after buying an additional 6,152 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Pinnacle Foods by 247.4% in the first quarter. Squarepoint Ops LLC now owns 27,100 shares of the company’s stock valued at $1,211,000 after buying an additional 19,300 shares during the last quarter. Boothbay Fund Management LLC bought a new position in shares of Pinnacle Foods during the first quarter valued at approximately $313,000. Finally, BNP Paribas Arbitrage SA bought a new position in shares of Pinnacle Foods during the second quarter valued at approximately $1,159,000.
Shares of Pinnacle Foods Inc. (NYSE:PF) traded up 0.58% during trading on Tuesday, reaching $50.39. 402,606 shares of the company were exchanged. The stock has a market capitalization of $5.95 billion, a PE ratio of 29.49 and a beta of 0.34. The stock has a 50-day moving average price of $50.34 and a 200-day moving average price of $48.19. Pinnacle Foods Inc. has a one year low of $39.15 and a one year high of $52.79.
Pinnacle Foods (NYSE:PF) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. The company earned $758.80 million during the quarter, compared to analysts’ expectations of $773.54 million. Pinnacle Foods had a net margin of 6.76% and a return on equity of 13.25%. Pinnacle Foods’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.46 earnings per share. Analysts forecast that Pinnacle Foods Inc. will post $2.14 EPS for the current year.
Several equities analysts recently commented on the stock. Deutsche Bank AG reissued a “hold” rating on shares of Pinnacle Foods in a research note on Friday, October 21st. Zacks Investment Research downgraded shares of Pinnacle Foods from a “buy” rating to a “hold” rating in a research note on Monday, October 17th. Finally, RBC Capital Markets reissued an “outperform” rating and issued a $56.00 price objective (up previously from $54.00) on shares of Pinnacle Foods in a research note on Monday, August 1st. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $53.00.
In other Pinnacle Foods news, CFO Craig D. Steeneck sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $52.24, for a total value of $1,306,000.00. Following the completion of the transaction, the chief financial officer now owns 202,014 shares of the company’s stock, valued at approximately $10,553,211.36. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Mark A. Clouse purchased 10,000 shares of the business’s stock in a transaction on Friday, November 11th. The stock was bought at an average cost of $47.64 per share, with a total value of $476,400.00. Following the purchase, the chief executive officer now owns 105,057 shares in the company, valued at $5,004,915.48. The disclosure for this purchase can be found here. 2.75% of the stock is currently owned by company insiders.
Pinnacle Foods Company Profile
Pinnacle Foods Inc is a manufacturer, marketer and distributor of branded food products in North America. The Company operates through three segments: the Birds Eye Frozen segment, the Duncan Hines Grocery segment and the Specialty Foods segment. The Birds Eye Frozen segment manages its brands in the United States retail frozen vegetables (Birds Eye), frozen complete bagged meals (Birds Eye Voila!), and frozen seafood (Van de Kamp’s and Mrs.
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