ClariVest Asset Management LLC reduced its stake in Pinnacle Foods, Inc. (NYSE:PF) by 4.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,220 shares of the company’s stock after selling 15,555 shares during the period. ClariVest Asset Management LLC owned 0.30% of Pinnacle Foods worth $20,365,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. First Quadrant L P CA bought a new position in Pinnacle Foods in the 2nd quarter worth about $122,000. World Asset Management Inc grew its stake in Pinnacle Foods by 0.9% in the 2nd quarter. World Asset Management Inc now owns 4,289 shares of the company’s stock worth $255,000 after acquiring an additional 39 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Pinnacle Foods by 7.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,691 shares of the company’s stock worth $279,000 after acquiring an additional 317 shares in the last quarter. M&T Bank Corp grew its stake in Pinnacle Foods by 34.0% in the 2nd quarter. M&T Bank Corp now owns 5,014 shares of the company’s stock worth $300,000 after acquiring an additional 1,271 shares in the last quarter. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO bought a new position in Pinnacle Foods in the 3rd quarter worth about $294,000. Institutional investors and hedge funds own 95.61% of the company’s stock.
PF has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Pinnacle Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, October 31st. UBS AG restated a “buy” rating and issued a $65.00 target price on shares of Pinnacle Foods in a research note on Monday, August 28th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $67.00 price target (up previously from $66.00) on shares of Pinnacle Foods in a research report on Tuesday, July 25th. Credit Suisse Group lowered their price target on shares of Pinnacle Foods from $65.00 to $64.00 and set an “outperform” rating for the company in a research report on Wednesday, October 4th. Finally, BidaskClub cut shares of Pinnacle Foods from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. 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 $0.03 on Thursday, hitting $55.03. 1,350,100 shares of the stock traded hands, compared to its average volume of 1,206,371. Pinnacle Foods, Inc. has a 52-week low of $48.35 and a 52-week 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 stock has a market cap of $6,670.00, a PE ratio of 22.92, a PEG ratio of 2.69 and a beta of 0.31.
Pinnacle Foods (NYSE:PF) last posted its earnings results on Thursday, October 26th. The company reported $0.58 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.58. Pinnacle Foods had a net margin of 5.65% and a return on equity of 14.63%. The company had revenue of $749.80 million during the quarter, compared to analysts’ expectations of $753.10 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. Pinnacle Foods’s revenue for the quarter was down 1.2% compared to the same quarter last year. equities analysts expect that Pinnacle Foods, Inc. will post 2.55 earnings per share for the current fiscal 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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