Dimensional Fund Advisors LP lessened its position in shares of Pinnacle Foods Inc (NYSE:PF) by 5.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,329,408 shares of the company’s stock after selling 74,468 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.12% of Pinnacle Foods worth $76,002,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Pinnacle Foods by 7.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,691 shares of the company’s stock valued at $279,000 after buying an additional 317 shares during the period. M&T Bank Corp grew its holdings in Pinnacle Foods by 34.0% in the 2nd quarter. M&T Bank Corp now owns 5,014 shares of the company’s stock valued at $300,000 after buying an additional 1,271 shares during the period. Town & Country Bank & Trust CO dba First Bankers Trust CO purchased a new stake in Pinnacle Foods in the 3rd quarter valued at about $294,000. Pinnacle Associates Ltd. grew its holdings in Pinnacle Foods by 5.7% in the 2nd quarter. Pinnacle Associates Ltd. now owns 5,600 shares of the company’s stock valued at $333,000 after buying an additional 300 shares during the period. Finally, Institute for Wealth Management LLC. purchased a new stake in Pinnacle Foods in the 2nd quarter valued at about $367,000. 95.28% of the stock is owned by hedge funds and other institutional investors.
Shares of Pinnacle Foods Inc (PF) traded up $1.12 on Wednesday, hitting $60.00. The company’s stock had a trading volume of 1,601,714 shares, compared to its average volume of 1,279,264. Pinnacle Foods Inc has a one year low of $52.51 and a one year high of $66.67. The firm has a market cap of $7,039.80, a price-to-earnings ratio of 40.54, a price-to-earnings-growth ratio of 2.69 and a beta of 0.33. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.81 and a current ratio of 1.80.
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, meeting the Thomson Reuters’ consensus estimate of $0.58. The business 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 business’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.53 EPS. analysts anticipate that Pinnacle Foods Inc will post 2.55 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Tuesday, December 19th were given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 2.17%. The ex-dividend date was Monday, December 18th. Pinnacle Foods’s dividend payout ratio is currently 87.84%.
Several analysts have commented on PF shares. Zacks Investment Research cut Pinnacle Foods from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. Credit Suisse Group set a $67.00 target price on Pinnacle Foods and gave the stock a “buy” rating in a report on Wednesday, January 10th. Finally, Buckingham Research decreased their target price on Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating for the company in a report on Friday, October 27th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Pinnacle Foods has a consensus rating of “Buy” and an average price target of $65.27.
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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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