GABELLI & Co INVESTMENT ADVISERS INC. Boosts Position in Pinnacle Foods Inc (PF)

GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in shares of Pinnacle Foods Inc (NYSE:PF) by 280.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 550,046 shares of the company’s stock after buying an additional 405,446 shares during the period. Pinnacle Foods comprises 3.6% of GABELLI & Co INVESTMENT ADVISERS INC.’s holdings, making the stock its 6th biggest position. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Pinnacle Foods were worth $35,648,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Gamco Investors INC. ET AL grew its stake in shares of Pinnacle Foods by 267.9% in the 3rd quarter. Gamco Investors INC. ET AL now owns 30,900 shares of the company’s stock worth $2,003,000 after buying an additional 22,500 shares in the last quarter. Comerica Bank grew its stake in shares of Pinnacle Foods by 439.8% in the 3rd quarter. Comerica Bank now owns 24,876 shares of the company’s stock worth $1,656,000 after buying an additional 20,268 shares in the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Pinnacle Foods by 1.7% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 114,959 shares of the company’s stock worth $7,450,000 after buying an additional 1,939 shares in the last quarter. W.E. Donoghue & Co. LLC purchased a new position in shares of Pinnacle Foods in the 3rd quarter worth $960,000. Finally, Creative Planning purchased a new position in shares of Pinnacle Foods in the 3rd quarter worth $217,000. 94.33% of the stock is owned by institutional investors.

PF stock opened at $66.66 on Monday. Pinnacle Foods Inc has a 12 month low of $52.25 and a 12 month high of $70.51.

Pinnacle Foods (NYSE:PF) last released its quarterly earnings results on Thursday, August 2nd. The company reported $0.59 EPS for the quarter, hitting analysts’ consensus estimates of $0.59. The firm had revenue of $741.80 million for the quarter, compared to analysts’ expectations of $749.29 million. During the same period in the prior year, the firm posted $0.53 earnings per share. Pinnacle Foods’s revenue for the quarter was down .4% on a year-over-year basis.

The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Tuesday, September 4th were paid a dividend of $0.325 per share. The ex-dividend date was Friday, August 31st. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.95%.

A number of equities analysts have commented on the stock. CL King cut shares of Pinnacle Foods from a “buy” rating to a “neutral” rating in a research note on Thursday, August 2nd. JPMorgan Chase & Co. cut shares of Pinnacle Foods from an “overweight” rating to a “neutral” rating and set a $64.00 price objective for the company. in a research note on Friday, August 3rd. Zacks Investment Research raised shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Tuesday, July 10th. Buckingham Research lifted their price target on shares of Pinnacle Foods from $62.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, July 20th. Finally, Jefferies Financial Group cut shares of Pinnacle Foods from a “buy” rating to a “hold” rating and set a $68.00 price target for the company. in a research note on Monday, October 15th. Thirteen analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $67.20.

Pinnacle Foods Company Profile

Pinnacle Foods Inc manufactures, markets, and distributes branded convenience food products in North America. It operates through four segments: Frozen, Grocery, Boulder, and Specialty. The Frozen segment offers frozen vegetables, frozen complete bagged meals, frozen prepared seafood, frozen and refrigerated bagels, frozen pizza, and full-calorie single-serve frozen dinners and entrées under the Birds Eye, Birds Eye Voila!, Van de Kamp's, Mrs.

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Institutional Ownership by Quarter for Pinnacle Foods (NYSE:PF)

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