Pinnacle Foods, Inc. (PF) Shares Sold by Gotham Asset Management LLC

Gotham Asset Management LLC lessened its stake in shares of Pinnacle Foods, Inc. (NYSE:PF) by 45.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 198,168 shares of the company’s stock after selling 161,954 shares during the period. Gotham Asset Management LLC owned about 0.17% of Pinnacle Foods worth $11,771,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Pinnacle Foods by 6.6% in the second quarter. Vanguard Group Inc. now owns 10,334,808 shares of the company’s stock worth $613,888,000 after purchasing an additional 640,620 shares in the last quarter. Capital World Investors increased its stake in shares of Pinnacle Foods by 5.9% in the second quarter. Capital World Investors now owns 9,378,050 shares of the company’s stock worth $557,056,000 after purchasing an additional 525,000 shares in the last quarter. BlackRock Inc. increased its stake in shares of Pinnacle Foods by 10,669.1% in the first quarter. BlackRock Inc. now owns 5,246,808 shares of the company’s stock worth $303,633,000 after purchasing an additional 5,198,087 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Pinnacle Foods by 66.4% in the second quarter. Renaissance Technologies LLC now owns 2,559,700 shares of the company’s stock worth $152,046,000 after purchasing an additional 1,021,200 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Pinnacle Foods by 2.4% in the second quarter. Franklin Resources Inc. now owns 2,121,315 shares of the company’s stock worth $126,014,000 after purchasing an additional 50,478 shares in the last quarter. Institutional investors and hedge funds own 95.40% of the company’s stock.

Shares of Pinnacle Foods, Inc. (NYSE PF) traded down 0.63% during trading on Friday, reaching $57.14. 697,530 shares of the company traded hands. The company has a market capitalization of $6.79 billion, a P/E ratio of 37.22 and a beta of 0.33. Pinnacle Foods, Inc. has a 52 week low of $46.36 and a 52 week high of $66.67. The company’s 50-day moving average price is $58.70 and its 200-day moving average price is $59.35.

Pinnacle Foods (NYSE:PF) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. Pinnacle Foods had a net margin of 5.82% and a return on equity of 14.47%. The firm had revenue of $744.61 million for the quarter, compared to analysts’ expectations of $764.41 million. During the same quarter in the prior year, the business earned $0.42 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts forecast that Pinnacle Foods, Inc. will post $2.55 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 9th. Stockholders of record on Tuesday, August 29th will be paid a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Friday, August 25th. This is a boost from Pinnacle Foods’s previous quarterly dividend of $0.29. Pinnacle Foods’s dividend payout ratio is 84.97%.

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Several equities analysts have recently weighed in on PF shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $67.00 target price (up previously from $66.00) on shares of Pinnacle Foods in a research note on Tuesday, July 25th. 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. Zacks Investment Research upgraded shares of Pinnacle Foods from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. BidaskClub downgraded shares of Pinnacle Foods from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Finally, UBS AG reiterated a “buy” rating and issued a $65.00 target price on shares of Pinnacle Foods in a research note on Monday, August 28th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $64.90.

In related news, EVP Mark L. Schiller sold 17,038 shares of the stock in a transaction that occurred on 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 directly owns 74,832 shares of the company’s stock, valued at approximately $4,535,567.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Craig D. Steeneck sold 33,095 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $59.61, for a total transaction of $1,972,792.95. Following the completion of the sale, the chief financial officer now directly owns 204,364 shares of the company’s stock, valued at $12,182,138.04. The disclosure for this sale can be found NYSE PF) traded down 0.63% during trading on Friday, reaching $57.14. 697,530 shares of the company traded hands. The company has a market capitalization of $6.79 billion, a P/E ratio of 37.22 and a beta of 0.33. Pinnacle Foods, Inc. has a 52 week low of $46.36 and a 52 week high of $66.67. The company’s 50-day moving average price is $58.70 and its 200-day moving average price is $59.35.

Pinnacle Foods (NYSE:PF) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. Pinnacle Foods had a net margin of 5.82% and a return on equity of 14.47%. The firm had revenue of $744.61 million for the quarter, compared to analysts’ expectations of $764.41 million. During the same quarter in the prior year, the business earned $0.42 EPS. The business’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts forecast that Pinnacle Foods, Inc. will post $2.55 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 9th. Stockholders of record on Tuesday, August 29th will be paid a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Friday, August 25th. This is a boost from Pinnacle Foods’s previous quarterly dividend of $0.29. Pinnacle Foods’s dividend payout ratio is 84.97%.

COPYRIGHT VIOLATION NOTICE: This article was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://ledgergazette.com/2017/10/08/pinnacle-foods-inc-pf-shares-sold-by-gotham-asset-management-llc.html.

Several equities analysts have recently weighed in on PF shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $67.00 target price (up previously from $66.00) on shares of Pinnacle Foods in a research note on Tuesday, July 25th. 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. Zacks Investment Research upgraded shares of Pinnacle Foods from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. BidaskClub downgraded shares of Pinnacle Foods from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Finally, UBS AG reiterated a “buy” rating and issued a $65.00 target price on shares of Pinnacle Foods in a research note on Monday, August 28th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $64.90.

In related news, EVP Mark L. Schiller sold 17,038 shares of the stock in a transaction that occurred on 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 directly owns 74,832 shares of the company’s stock, valued at approximately $4,535,567.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Craig D. Steeneck sold 33,095 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $59.61, for a total transaction of $1,972,792.95. Following the completion of the sale, the chief financial officer now directly 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 worth $9,037,020 in the last quarter. Company insiders own 1.34% of the company’s stock.

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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Institutional Ownership by Quarter for Pinnacle Foods (NYSE:PF)

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