Neuberger Berman Group LLC raised its holdings in shares of Pinnacle Foods, Inc. (NYSE:PF) by 5.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 956,170 shares of the company’s stock after purchasing an additional 51,906 shares during the quarter. Neuberger Berman Group LLC owned 0.80% of Pinnacle Foods worth $56,796,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Tower Research Capital LLC TRC grew its stake in shares of Pinnacle Foods by 599.0% in 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 in the last quarter. First Quadrant L P CA bought a new stake in shares of Pinnacle Foods in the 2nd quarter worth $122,000. Acrospire Investment Management LLC grew its stake in shares of Pinnacle Foods by 107.1% in the 1st quarter. Acrospire Investment Management LLC now owns 2,900 shares of the company’s stock worth $168,000 after acquiring an additional 1,500 shares in the last quarter. Harbour Capital Advisors LLC bought a new stake in shares of Pinnacle Foods in the 1st quarter worth $204,000. Finally, M&T Bank Corp bought a new stake in shares of Pinnacle Foods in the 1st quarter worth $217,000. Institutional investors and hedge funds own 95.41% of the company’s stock.
Several analysts have recently issued reports on PF shares. Zacks Investment Research upgraded shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Tuesday, June 27th. BMO Capital Markets reiterated a “buy” rating and issued a $63.00 target price on shares of Pinnacle Foods in a research note on Tuesday, June 27th. BidaskClub lowered 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 report on Monday, August 28th. Finally, 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 report on Tuesday, July 25th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $65.36.
In other Pinnacle Foods news, EVP Michael J. Barkley sold 24,962 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $59.30, for a total transaction of $1,480,246.60. Following the completion of the sale, the executive vice president now directly owns 17,802 shares in the company, valued at approximately $1,055,658.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark L. Schiller sold 50,000 shares of Pinnacle Foods stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $59.37, for a total value of $2,968,500.00. Following the transaction, the executive vice president now directly owns 96,377 shares in the company, valued at $5,721,902.49. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 151,912 shares of company stock valued at $9,037,020. Corporate insiders own 1.34% of the company’s stock.
Pinnacle Foods, Inc. (NYSE PF) traded up 0.53% during midday trading on Friday, reaching $58.82. 1,315,945 shares of the company’s stock traded hands. Pinnacle Foods, Inc. has a one year low of $46.36 and a one year high of $66.67. The stock’s 50 day moving average price is $59.55 and its 200-day moving average price is $59.41. The stock has a market cap of $6.99 billion, a PE ratio of 38.32 and a beta of 0.35.
Pinnacle Foods (NYSE:PF) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. The company had revenue of $744.61 million during the quarter, compared to the consensus estimate of $764.41 million. Pinnacle Foods had a return on equity of 14.47% and a net margin of 5.82%. Pinnacle Foods’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period last year, the company earned $0.42 EPS. Equities analysts predict that Pinnacle Foods, Inc. will post $2.56 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 9th. Shareholders of record on Tuesday, August 29th will be paid a dividend of $0.325 per share. This is an increase from Pinnacle Foods’s previous quarterly dividend of $0.29. This represents a $1.30 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date is Friday, August 25th. Pinnacle Foods’s payout ratio is currently 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.
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.