Banque Pictet & Cie SA Invests $545,000 in Pinnacle Foods, Inc. (PF)
Banque Pictet & Cie SA purchased a new stake in shares of Pinnacle Foods, Inc. (NYSE:PF) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 9,525 shares of the company’s stock, valued at approximately $545,000.
Other institutional investors have also recently made changes to their positions in the company. Prudential Financial Inc. boosted its position in Pinnacle Foods by 27.9% during the first quarter. Prudential Financial Inc. now owns 9,620 shares of the company’s stock valued at $557,000 after purchasing an additional 2,100 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Pinnacle Foods during the second quarter valued at about $13,544,000. Pacer Advisors Inc. boosted its position in Pinnacle Foods by 2.9% during the second quarter. Pacer Advisors Inc. now owns 17,498 shares of the company’s stock valued at $1,039,000 after purchasing an additional 489 shares in the last quarter. Neuberger Berman Group LLC boosted its position in Pinnacle Foods by 5.7% during the second quarter. Neuberger Berman Group LLC now owns 956,170 shares of the company’s stock valued at $56,796,000 after purchasing an additional 51,906 shares in the last quarter. Finally, Omni Partners LLP bought a new stake in Pinnacle Foods during the second quarter valued at about $5,058,000. Hedge funds and other institutional investors own 95.61% of the company’s stock.
A number of brokerages recently weighed in on PF. UBS AG reaffirmed a “buy” rating and set a $65.00 price objective on shares of Pinnacle Foods in a research report on Monday, August 28th. Credit Suisse Group dropped their price objective 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. Zacks Investment Research raised Pinnacle Foods from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Tuesday, October 17th. Buckingham Research dropped their price objective 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. Finally, BidaskClub raised Pinnacle Foods from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $64.25.
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Shares of Pinnacle Foods, Inc. (PF) traded down $0.31 during midday trading on Friday, reaching $55.63. The company’s stock had a trading volume of 845,788 shares, compared to its average volume of 1,174,368. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.81 and a current ratio of 1.80. The firm has a market capitalization of $6,620.86, a P/E ratio of 23.18, a PEG ratio of 2.73 and a beta of 0.31. Pinnacle Foods, Inc. has a fifty-two week low of $48.38 and a fifty-two week 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 for the quarter, hitting the consensus estimate of $0.58. Pinnacle Foods had a return on equity of 14.63% and a net margin of 5.65%. The business had revenue of $749.80 million during the quarter, compared to the consensus estimate of $753.10 million. During the same quarter last year, the company earned $0.53 earnings per share. The company’s quarterly revenue was down 1.2% on a year-over-year basis. analysts expect that Pinnacle Foods, Inc. will post 2.55 EPS for the current year.
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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