Robeco Institutional Asset Management B.V. cut its stake in Pinnacle Foods, Inc. (NYSE:PF) by 20.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 259,958 shares of the company’s stock after selling 65,126 shares during the period. Robeco Institutional Asset Management B.V. owned 0.22% of Pinnacle Foods worth $14,862,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in PF. First Quadrant L P CA bought a new stake in shares of Pinnacle Foods during the second quarter valued at approximately $122,000. Tower Research Capital LLC TRC increased its position in shares of Pinnacle Foods by 599.0% during the first quarter. Tower Research Capital LLC TRC now owns 2,097 shares of the company’s stock valued at $121,000 after acquiring an additional 1,797 shares in the last quarter. World Asset Management Inc increased its position in shares of Pinnacle Foods by 0.9% during the second quarter. World Asset Management Inc now owns 4,289 shares of the company’s stock valued at $255,000 after acquiring an additional 39 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 purchasing an additional 317 shares during the period. Finally, M&T Bank Corp grew its position 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 purchasing an additional 1,271 shares during the period. Hedge funds and other institutional investors own 95.52% of the company’s stock.
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In other news, EVP Mark L. Schiller sold 17,038 shares of the stock in a transaction 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 sale, the executive vice president now owns 74,832 shares in the company, valued at $4,535,567.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.34% of the stock is owned by corporate insiders.
Pinnacle Foods, Inc. (NYSE PF) traded up $0.46 during trading hours on Friday, reaching $54.22. 1,387,300 shares of the company were exchanged, compared to its average volume of 1,208,392. The stock has a market capitalization of $6,398.31, a PE ratio of 22.40, a price-to-earnings-growth ratio of 2.26 and a beta of 0.31. Pinnacle Foods, Inc. has a 12 month low of $46.36 and a 12 month 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.
Pinnacle Foods (NYSE:PF) last posted its quarterly earnings results on Thursday, October 26th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.58. The business had revenue of $749.80 million during the quarter, compared to analysts’ expectations of $753.10 million. Pinnacle Foods had a net margin of 5.65% and a return on equity of 14.63%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter last year, the company posted $0.53 earnings per share. equities analysts anticipate that Pinnacle Foods, Inc. will post 2.55 earnings per share for the current fiscal year.
A number of equities research analysts have recently issued reports on PF shares. BidaskClub upgraded shares of Pinnacle Foods from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Buckingham Research cut their price target on shares of Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, October 27th. Credit Suisse Group cut their price target on shares of Pinnacle Foods from $64.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, October 27th. Zacks Investment Research upgraded shares of Pinnacle Foods from a “sell” rating to a “hold” rating in a report on Monday, July 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $67.00 price target (up from $66.00) on shares of Pinnacle Foods in a report on Tuesday, July 25th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Pinnacle Foods presently has an average rating of “Buy” and an average target price of $64.25.
About Pinnacle Foods
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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