Stifel Financial Corp Has $1.36 Million Position in Pinnacle Foods, Inc. (PF)
Stifel Financial Corp boosted its holdings in Pinnacle Foods, Inc. (NYSE:PF) by 0.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,881 shares of the company’s stock after buying an additional 155 shares during the period. Stifel Financial Corp’s holdings in Pinnacle Foods were worth $1,360,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Numeric Investors LLC acquired a new stake in Pinnacle Foods in the second quarter worth $487,000. Zacks Investment Management raised its holdings in Pinnacle Foods by 0.4% in the second quarter. Zacks Investment Management now owns 99,460 shares of the company’s stock worth $5,908,000 after purchasing an additional 443 shares during the period. OxFORD Asset Management LLP raised its holdings in Pinnacle Foods by 554.0% in the second quarter. OxFORD Asset Management LLP now owns 52,098 shares of the company’s stock worth $3,095,000 after purchasing an additional 44,132 shares during the period. Virtu KCG Holdings LLC raised its holdings in Pinnacle Foods by 30.1% in the second quarter. Virtu KCG Holdings LLC now owns 12,137 shares of the company’s stock worth $721,000 after purchasing an additional 2,808 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Pinnacle Foods by 66.4% in the second quarter. Renaissance Technologies LLC now owns 2,559,700 shares of the company’s stock worth $152,046,000 after purchasing an additional 1,021,200 shares during the period. Institutional investors and hedge funds own 95.32% of the company’s stock.
In other Pinnacle Foods news, CFO Craig D. Steeneck sold 33,095 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $59.61, for a total transaction of $1,972,792.95. Following the transaction, the chief financial officer now owns 204,364 shares in the company, valued at $12,182,138.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Michael J. Barkley sold 24,962 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $59.30, for a total transaction of $1,480,246.60. Following the transaction, the executive vice president now owns 17,802 shares in the company, valued at approximately $1,055,658.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 151,912 shares of company stock worth $9,037,020. Corporate insiders own 1.34% of the company’s stock.
Shares of Pinnacle Foods, Inc. (NYSE:PF) opened at 56.57 on Friday. The stock’s 50 day moving average is $57.87 and its 200 day moving average is $59.29. Pinnacle Foods, Inc. has a 12 month low of $46.36 and a 12 month high of $66.67. The company has a market cap of $6.72 billion, a P/E ratio of 36.85 and a beta of 0.33.
Pinnacle Foods (NYSE:PF) last released its earnings results on Thursday, July 27th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.01. Pinnacle Foods had a net margin of 5.82% and a return on equity of 14.47%. The company had revenue of $744.61 million for the quarter, compared to the consensus estimate of $764.41 million. During the same quarter in the previous year, the company earned $0.42 EPS. Pinnacle Foods’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, analysts anticipate that Pinnacle Foods, Inc. will post $2.55 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 9th. Shareholders of record on Tuesday, August 29th were issued a dividend of $0.325 per share. This is an increase from Pinnacle Foods’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Friday, August 25th. This represents a $1.30 annualized dividend and a yield of 2.30%. Pinnacle Foods’s dividend payout ratio is presently 84.97%.
Several research firms have weighed in on PF. BidaskClub upgraded shares of Pinnacle Foods from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 27th. BMO Capital Markets reiterated a “buy” rating and issued a $63.00 target price on shares of Pinnacle Foods in a report on Tuesday, June 27th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $67.00 target price (up from $66.00) on shares of Pinnacle Foods in a report on Tuesday, July 25th. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $68.00 target price (up from $65.00) on shares of Pinnacle Foods in a report on Wednesday, June 28th. Finally, Zacks Investment Research upgraded shares of Pinnacle Foods from a “sell” rating to a “hold” rating in a report on Monday, July 31st. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $64.82.
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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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