First Republic Investment Management Inc. purchased a new position in shares of Pinnacle Foods Inc (NYSE:PF) in the second quarter, HoldingsChannel reports. The fund purchased 5,058 shares of the company’s stock, valued at approximately $329,000.

Other institutional investors have also recently modified their holdings of the company. NumerixS Investment Technologies Inc bought a new stake in shares of Pinnacle Foods during the 2nd quarter worth approximately $130,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Pinnacle Foods by 100.5% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,194 shares of the company’s stock worth $143,000 after acquiring an additional 1,100 shares during the period. CenterStar Asset Management LLC lifted its stake in Pinnacle Foods by 299,900.0% in the 2nd quarter. CenterStar Asset Management LLC now owns 3,000 shares of the company’s stock valued at $196,000 after purchasing an additional 2,999 shares during the last quarter. Ostrum Asset Management bought a new position in Pinnacle Foods in the 1st quarter valued at approximately $164,000. Finally, Signition LP bought a new position in Pinnacle Foods in the 2nd quarter valued at approximately $201,000. 94.57% of the stock is owned by institutional investors.

Shares of NYSE:PF opened at $66.16 on Thursday. The company has a market capitalization of $7.93 billion, a P/E ratio of 26.02, a P/E/G ratio of 2.87 and a beta of 0.47. The company has a quick ratio of 0.62, a current ratio of 1.51 and a debt-to-equity ratio of 1.11. Pinnacle Foods Inc has a one year low of $52.25 and a one year high of $70.51.

Pinnacle Foods (NYSE:PF) last issued its quarterly earnings data on Thursday, August 2nd. The company reported $0.59 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.59. Pinnacle Foods had a net margin of 19.14% and a return on equity of 13.96%. The business had revenue of $741.80 million during the quarter, compared to the consensus estimate of $749.29 million. During the same quarter in the prior year, the firm earned $0.53 EPS. The firm’s revenue was down .4% compared to the same quarter last year. research analysts forecast that Pinnacle Foods Inc will post 2.9 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Tuesday, September 4th will be given a $0.325 dividend. This represents a $1.30 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Friday, August 31st. Pinnacle Foods’s dividend payout ratio (DPR) is currently 50.98%.

Several equities analysts recently commented on PF shares. Zacks Investment Research raised shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $74.00 price objective for the company in a research note on Tuesday, July 10th. Piper Jaffray Companies downgraded shares of Pinnacle Foods from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $69.00 to $68.00 in a research note on Monday. Barclays downgraded shares of Pinnacle Foods from an “overweight” rating to an “equal weight” rating in a research note on Friday, June 29th. CL King downgraded shares of Pinnacle Foods from a “buy” rating to a “neutral” rating in a research note on Thursday, August 2nd. Finally, Deutsche Bank downgraded shares of Pinnacle Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Twelve research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $67.60.

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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