Omni Partners LLP Takes $5.06 Million Position in Pinnacle Foods, Inc. (PF)
Omni Partners LLP acquired a new position in shares of Pinnacle Foods, Inc. (NYSE:PF) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 85,151 shares of the company’s stock, valued at approximately $5,058,000. Pinnacle Foods comprises about 0.6% of Omni Partners LLP’s portfolio, making the stock its 23rd largest holding. Omni Partners LLP owned approximately 0.07% of Pinnacle Foods as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of PF. Tower Research Capital LLC TRC lifted its holdings in shares of Pinnacle Foods by 599.0% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,097 shares of the company’s stock worth $121,000 after acquiring an additional 1,797 shares during the last quarter. First Quadrant L P CA bought a new stake in Pinnacle Foods in the second quarter worth $122,000. Acrospire Investment Management LLC lifted its stake in Pinnacle Foods by 107.1% in the first quarter. Acrospire Investment Management LLC now owns 2,900 shares of the company’s stock worth $168,000 after purchasing an additional 1,500 shares during the last quarter. Harbour Capital Advisors LLC bought a new stake in Pinnacle Foods in the first quarter worth $204,000. Finally, M&T Bank Corp bought a new stake in Pinnacle Foods in the first quarter worth $217,000. 95.41% of the stock is owned by institutional investors.
Pinnacle Foods, Inc. (PF) traded down 0.76% during trading on Wednesday, hitting $59.11. 277,296 shares of the company’s stock were exchanged. Pinnacle Foods, Inc. has a 52-week low of $46.36 and a 52-week high of $66.67. The firm has a 50 day moving average price of $60.01 and a 200 day moving average price of $59.31. The company has a market cap of $7.02 billion, a price-to-earnings ratio of 38.51 and a beta of 0.35.
Pinnacle Foods (NYSE:PF) last released its earnings results on Thursday, July 27th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The firm had revenue of $744.61 million during the quarter, compared to analyst estimates of $764.41 million. Pinnacle Foods had a net margin of 5.82% and a return on equity of 14.47%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter last year, the business earned $0.42 EPS. On average, equities research analysts predict that Pinnacle Foods, Inc. will post $2.56 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 9th. Stockholders of record on Tuesday, August 29th will be issued a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 2.18%. The ex-dividend date is Friday, August 25th. This is a positive change from Pinnacle Foods’s previous quarterly dividend of $0.29. Pinnacle Foods’s dividend payout ratio (DPR) is 84.97%.
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In other news, EVP Mark L. Schiller sold 17,038 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $60.61, for a total value of $1,032,673.18. Following the completion of the sale, the executive vice president now owns 74,832 shares in the company, valued at approximately $4,535,567.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christopher J. Boever sold 26,682 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $59.02, for a total transaction of $1,574,771.64. Following the completion of the sale, the executive vice president now owns 66,296 shares of the company’s stock, valued at approximately $3,912,789.92. The disclosure for this sale can be found here. Insiders sold a total of 151,777 shares of company stock valued at $9,028,984 in the last 90 days. Company insiders own 1.34% of the company’s stock.
Several analysts have weighed in on PF shares. Royal Bank Of Canada reissued an “outperform” rating and issued a $67.00 price target (up from $66.00) on shares of Pinnacle Foods in a research note on Tuesday, July 25th. BidaskClub downgraded shares of Pinnacle Foods from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. UBS AG reissued a “buy” rating and issued a $65.00 price target on shares of Pinnacle Foods in a research note on Monday, August 28th. Zacks Investment Research raised shares of Pinnacle Foods from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Finally, J P Morgan Chase & Co reissued an “overweight” rating and issued a $68.00 price target (up from $65.00) on shares of Pinnacle Foods in a research note on Wednesday, June 28th. Two research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $65.36.
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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