Twin Tree Management LP decreased its position in shares of Pinnacle Foods, Inc. (NYSE:PF) by 90.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,053 shares of the company’s stock after selling 48,294 shares during the quarter. Twin Tree Management LP’s holdings in Pinnacle Foods were worth $300,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Alps Advisors Inc. grew its position in shares of Pinnacle Foods by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 8,171 shares of the company’s stock worth $485,000 after buying an additional 21 shares during the period. World Asset Management Inc grew its position in Pinnacle Foods by 0.9% in the 2nd quarter. World Asset Management Inc now owns 4,289 shares of the company’s stock valued at $255,000 after purchasing an additional 39 shares during the period. Teacher Retirement System of Texas grew its position in Pinnacle Foods by 1.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 9,365 shares of the company’s stock valued at $556,000 after purchasing an additional 132 shares during the period. Stanley Laman Group Ltd. grew its position in Pinnacle Foods by 1.5% in the 2nd quarter. Stanley Laman Group Ltd. now owns 12,885 shares of the company’s stock valued at $765,000 after purchasing an additional 191 shares during the period. Finally, KCG Holdings Inc. grew its position in Pinnacle Foods by 2.2% in the 1st quarter. KCG Holdings Inc. now owns 9,329 shares of the company’s stock valued at $540,000 after purchasing an additional 203 shares during the period. Hedge funds and other institutional investors own 95.41% of the company’s stock.
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In other Pinnacle Foods news, EVP Michael J. Barkley sold 24,962 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $59.30, for a total value of $1,480,246.60. Following the completion of the transaction, the executive vice president now directly owns 17,802 shares in the company, valued at approximately $1,055,658.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark L. Schiller sold 17,038 shares of the business’s 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 completion of the transaction, the executive vice president now owns 74,832 shares of the company’s stock, valued at $4,535,567.52. The disclosure for this sale can be found here. Insiders sold a total of 151,912 shares of company stock worth $9,037,020 in the last ninety days. 1.34% of the stock is owned by corporate insiders.
Shares of Pinnacle Foods, Inc. (NYSE PF) traded down 0.15% during mid-day trading on Friday, reaching $58.42. The company’s stock had a trading volume of 170,632 shares. Pinnacle Foods, Inc. has a 12-month low of $46.36 and a 12-month high of $66.67. The stock has a market capitalization of $6.94 billion, a P/E ratio of 38.06 and a beta of 0.35. The company’s 50-day moving average price is $59.60 and its 200-day moving average price is $59.39.
Pinnacle Foods (NYSE:PF) last released its quarterly earnings results on Thursday, July 27th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.01. Pinnacle Foods had a return on equity of 14.47% and a net margin of 5.82%. The firm had revenue of $744.61 million for the quarter, compared to analyst estimates of $764.41 million. During the same quarter last year, the company posted $0.42 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. On average, equities research analysts forecast that Pinnacle Foods, Inc. will post $2.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 9th. Shareholders of record on Tuesday, August 29th will be issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Friday, August 25th. This is a positive change from Pinnacle Foods’s previous quarterly dividend of $0.29. Pinnacle Foods’s payout ratio is currently 84.97%.
A number of equities research analysts have recently commented on the company. BidaskClub upgraded Pinnacle Foods from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Royal Bank Of Canada reiterated an “outperform” rating and set a $67.00 target price (up from $66.00) on shares of Pinnacle Foods in a research note on Tuesday, July 25th. Zacks Investment Research upgraded Pinnacle Foods from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Tuesday, June 27th. BMO Capital Markets restated a “buy” rating and issued a $63.00 price objective on shares of Pinnacle Foods in a research note on Tuesday, June 27th. Finally, J P Morgan Chase & Co restated an “overweight” rating and issued a $68.00 price objective (up from $65.00) on shares of Pinnacle Foods in a research note on Wednesday, June 28th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $65.36.
Pinnacle Foods Company 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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