361 Capital LLC Has $9 Million Holdings in Pinnacle Foods, Inc. (PF)
361 Capital LLC raised its stake in Pinnacle Foods, Inc. (NYSE:PF) by 16.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 151,550 shares of the company’s stock after buying an additional 21,021 shares during the quarter. Pinnacle Foods makes up approximately 1.5% of 361 Capital LLC’s investment portfolio, making the stock its 10th largest position. 361 Capital LLC owned about 0.13% of Pinnacle Foods worth $9,002,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors also recently modified their holdings of PF. Comerica Bank grew its holdings in Pinnacle Foods by 6.6% in the 1st quarter. Comerica Bank now owns 20,186 shares of the company’s stock valued at $1,180,000 after buying an additional 1,251 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in Pinnacle Foods by 75.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 106,627 shares of the company’s stock worth $6,171,000 after acquiring an additional 45,763 shares in the last quarter. Oxford Asset Management acquired a new position in Pinnacle Foods during the 1st quarter worth about $461,000. M&T Bank Corp acquired a new position in Pinnacle Foods during the 1st quarter worth about $217,000. Finally, JPMorgan Chase & Co. lifted its stake in Pinnacle Foods by 7.6% during the 1st quarter. JPMorgan Chase & Co. now owns 109,966 shares of the company’s stock worth $6,365,000 after acquiring an additional 7,804 shares in the last quarter. Institutional investors own 95.40% of the company’s stock.
In other Pinnacle Foods news, EVP Mark L. Schiller sold 17,038 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The stock was 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 directly owns 74,832 shares in the company, valued at $4,535,567.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Craig D. Steeneck sold 33,095 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $59.61, for a total value of $1,972,792.95. Following the completion of the sale, the chief financial officer now owns 204,364 shares of the company’s stock, valued at $12,182,138.04. The disclosure for this sale can be found here. Insiders sold a total of 151,912 shares of company stock valued at $9,037,020 over the last three months. Corporate insiders own 1.34% of the company’s stock.
Several equities analysts recently issued reports on PF shares. BMO Capital Markets reissued a “buy” rating and set a $63.00 target price on shares of Pinnacle Foods in a research note on Tuesday, June 27th. BidaskClub lowered Pinnacle Foods from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 14th. UBS AG reiterated a “buy” rating and issued a $65.00 price objective on shares of Pinnacle Foods in a report on Monday, August 28th. Zacks Investment Research upgraded Pinnacle Foods from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, Credit Suisse Group dropped their price objective on Pinnacle Foods from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, October 4th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $64.90.
Shares of Pinnacle Foods, Inc. (NYSE PF) traded down 0.37% on Monday, hitting $56.93. The company’s stock had a trading volume of 353,859 shares. Pinnacle Foods, Inc. has a 1-year low of $46.36 and a 1-year high of $66.67. The firm has a market cap of $6.76 billion, a PE ratio of 37.09 and a beta of 0.33. The company has a 50 day moving average of $58.70 and a 200 day moving average of $59.35.
Pinnacle Foods (NYSE:PF) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. Pinnacle Foods had a return on equity of 14.47% and a net margin of 5.82%. The business had revenue of $744.61 million during the quarter, compared to analyst estimates of $764.41 million. During the same period in the prior year, the company posted $0.42 EPS. The business’s revenue for the quarter was down 1.6% compared to the same quarter last year. Equities analysts forecast that Pinnacle Foods, Inc. will post $2.55 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 9th. Investors of record on Tuesday, August 29th will be issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 2.28%. This is a positive change from Pinnacle Foods’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Friday, August 25th. Pinnacle Foods’s dividend payout ratio is 84.97%.
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.
Want to see what other hedge funds are holding PF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinnacle Foods, Inc. (NYSE:PF).
Receive News & Stock Ratings for Pinnacle Foods Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinnacle Foods Inc. and related stocks with our FREE daily email newsletter.