Westfield Capital Management Co. LP Grows Position in Pinnacle Foods, Inc. (PF)
Westfield Capital Management Co. LP increased its stake in shares of Pinnacle Foods, Inc. (NYSE:PF) by 22.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,438,368 shares of the company’s stock after buying an additional 264,005 shares during the quarter. Westfield Capital Management Co. LP owned about 1.21% of Pinnacle Foods worth $82,231,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PF. BT Investment Management Ltd raised its position in shares of Pinnacle Foods by 25.5% during the 3rd quarter. BT Investment Management Ltd now owns 14,499 shares of the company’s stock worth $829,000 after purchasing an additional 2,944 shares during the last quarter. Janus Henderson Group PLC acquired a new position in shares of Pinnacle Foods during the 2nd quarter worth approximately $13,544,000. Pacer Advisors Inc. raised its position in shares of Pinnacle Foods by 2.9% during the 2nd quarter. Pacer Advisors Inc. now owns 17,498 shares of the company’s stock worth $1,039,000 after purchasing an additional 489 shares during the last quarter. Davidson Kempner Capital Management LP acquired a new position in shares of Pinnacle Foods during the 2nd quarter worth approximately $26,730,000. Finally, Neuberger Berman Group LLC raised its position in shares of Pinnacle Foods by 5.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 956,170 shares of the company’s stock worth $56,796,000 after purchasing an additional 51,906 shares during the last quarter. 95.37% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages recently issued reports on PF. UBS restated a “buy” rating and set a $65.00 price objective on shares of Pinnacle Foods in a research report on Monday, August 28th. Credit Suisse Group cut their price objective on Pinnacle Foods from $64.00 to $60.00 and set an “outperform” rating for the company in a research report on Friday, October 27th. 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 research report on Tuesday, October 17th. Buckingham Research cut their price objective on Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, October 27th. Finally, BidaskClub upgraded Pinnacle Foods from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Pinnacle Foods has a consensus rating of “Buy” and an average target price of $64.25.
Pinnacle Foods, Inc. (NYSE PF) traded down $0.77 during mid-day trading on Friday, reaching $57.46. 1,027,212 shares of the company’s stock traded hands, compared to its average volume of 1,192,308. The stock has a market cap of $6,840.00, a PE ratio of 23.68, a P/E/G ratio of 2.78 and a beta of 0.31. 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 12-month low of $48.41 and a 12-month high of $66.67.
Pinnacle Foods (NYSE:PF) last released its earnings results on Thursday, October 26th. The company reported $0.58 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. The firm had revenue of $749.80 million during the quarter, compared to analysts’ expectations of $753.10 million. Pinnacle Foods had a net margin of 5.65% and a return on equity of 14.63%. Pinnacle Foods’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS. equities analysts anticipate that Pinnacle Foods, Inc. will post 2.55 earnings per share for the current year.
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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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