Icon Advisers Inc. Co. decreased its stake in Pinnacle Foods Inc (NYSE:PF) by 26.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,800 shares of the company’s stock after selling 3,200 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Pinnacle Foods were worth $523,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Stifel Financial Corp boosted its holdings in Pinnacle Foods by 0.7% during the 2nd quarter. Stifel Financial Corp now owns 22,881 shares of the company’s stock valued at $1,360,000 after acquiring an additional 155 shares during the period. Sterling Capital Management LLC boosted its holdings in Pinnacle Foods by 0.8% during the 2nd quarter. Sterling Capital Management LLC now owns 43,250 shares of the company’s stock valued at $2,569,000 after acquiring an additional 343 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in Pinnacle Foods by 3.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 12,590 shares of the company’s stock valued at $748,000 after acquiring an additional 455 shares during the period. Grassi Investment Management boosted its holdings in Pinnacle Foods by 0.8% during the 4th quarter. Grassi Investment Management now owns 114,384 shares of the company’s stock valued at $6,802,000 after acquiring an additional 867 shares during the period. Finally, Swiss National Bank boosted its holdings in Pinnacle Foods by 0.9% during the 3rd quarter. Swiss National Bank now owns 198,480 shares of the company’s stock valued at $11,347,000 after acquiring an additional 1,700 shares during the period. Hedge funds and other institutional investors own 93.02% of the company’s stock.
A number of equities analysts recently issued reports on PF shares. Zacks Investment Research upgraded Pinnacle Foods from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Tuesday, October 17th. Buckingham Research dropped their price objective on Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating for the company in a report on Friday, October 27th. Finally, Credit Suisse Group dropped their price objective on Pinnacle Foods from $64.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, October 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $65.27.
Pinnacle Foods Inc (NYSE:PF) opened at $57.56 on Tuesday. The company has a market capitalization of $6,836.29, a price-to-earnings ratio of 23.93, a PEG ratio of 2.61 and a beta of 0.34. 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 Inc has a 1 year low of $52.81 and a 1 year high of $66.67.
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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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