BNP Paribas Arbitrage SA grew its holdings in shares of Pinnacle Foods, Inc. (NYSE:PF) by 307.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 284,122 shares of the company’s stock after buying an additional 214,336 shares during the quarter. BNP Paribas Arbitrage SA owned 0.24% of Pinnacle Foods worth $16,243,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Alps Advisors Inc. lifted its stake in Pinnacle Foods by 0.3% during the second quarter. Alps Advisors Inc. now owns 8,171 shares of the company’s stock worth $485,000 after purchasing an additional 21 shares during the last quarter. World Asset Management Inc lifted its stake in Pinnacle Foods by 0.9% during the second quarter. World Asset Management Inc now owns 4,289 shares of the company’s stock worth $255,000 after purchasing an additional 39 shares during the last quarter. Hanseatic Management Services Inc. lifted its stake in Pinnacle Foods by 0.3% during the second quarter. Hanseatic Management Services Inc. now owns 18,710 shares of the company’s stock worth $1,111,000 after purchasing an additional 47 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Pinnacle Foods by 1.4% during the second quarter. Teacher Retirement System of Texas now owns 9,365 shares of the company’s stock worth $556,000 after purchasing an additional 132 shares during the last quarter. Finally, Stifel Financial Corp lifted its stake in Pinnacle Foods by 0.7% during the second quarter. Stifel Financial Corp now owns 22,881 shares of the company’s stock worth $1,360,000 after purchasing an additional 155 shares during the last quarter. Institutional investors own 95.61% of the company’s stock.
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In other news, EVP Mark L. Schiller sold 17,038 shares of the firm’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $60.61, for a total transaction of $1,032,673.18. Following the transaction, the executive vice president now directly owns 74,832 shares of the company’s stock, valued at $4,535,567.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.34% of the stock is currently owned by company insiders.
Several equities analysts recently issued reports on the company. BidaskClub upgraded Pinnacle Foods from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Buckingham Research reduced their price objective on Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, October 27th. Credit Suisse Group reduced their price objective on Pinnacle Foods from $64.00 to $60.00 and set an “outperform” rating on the stock in a research note on Friday, October 27th. Zacks Investment Research upgraded Pinnacle Foods from a “sell” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $67.00 target price (up from $66.00) on shares of Pinnacle Foods in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $64.25.
Shares of Pinnacle Foods, Inc. (PF) traded up $0.12 during midday trading on Monday, reaching $54.34. The company’s stock had a trading volume of 85,073 shares, compared to its average volume of 954,707. Pinnacle Foods, Inc. has a 1 year low of $46.36 and a 1 year high of $66.67. The company has a debt-to-equity ratio of 1.49, a current ratio of 1.80 and a quick ratio of 0.81. The firm has a market capitalization of $6,470.00, a price-to-earnings ratio of 22.59, a PEG ratio of 2.28 and a beta of 0.31.
Pinnacle Foods (NYSE:PF) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. The company had revenue of $749.80 million for the quarter, compared to analyst estimates of $753.10 million. Pinnacle Foods had a return on equity of 14.63% and a net margin of 5.65%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company earned $0.53 earnings per share. equities research analysts predict that Pinnacle Foods, Inc. will post 2.55 earnings per share for the current year.
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.
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