ClariVest Asset Management LLC reduced its stake in Pinnacle Foods, Inc. (NYSE:PF) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 371,775 shares of the company’s stock after selling 12,530 shares during the period. ClariVest Asset Management LLC’s holdings in Pinnacle Foods were worth $22,083,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Pinnacle Foods by 4.9% in the first quarter. Vanguard Group Inc. now owns 9,694,188 shares of the company’s stock valued at $561,003,000 after buying an additional 451,875 shares in the last quarter. BlackRock Inc. raised its position in Pinnacle Foods by 10,669.1% in the first quarter. BlackRock Inc. now owns 5,246,808 shares of the company’s stock valued at $303,633,000 after buying an additional 5,198,087 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in Pinnacle Foods by 8.2% in the first quarter. TIAA CREF Investment Management LLC now owns 4,222,339 shares of the company’s stock valued at $244,347,000 after buying an additional 320,832 shares in the last quarter. OppenheimerFunds Inc. raised its position in Pinnacle Foods by 5.0% in the first quarter. OppenheimerFunds Inc. now owns 2,243,595 shares of the company’s stock valued at $129,837,000 after buying an additional 106,737 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Pinnacle Foods by 63.7% in the first quarter. Renaissance Technologies LLC now owns 1,538,500 shares of the company’s stock valued at $89,033,000 after buying an additional 598,537 shares in the last quarter. Institutional investors and hedge funds own 97.00% of the company’s stock.

Pinnacle Foods, Inc. (NYSE PF) opened at 59.45 on Friday. Pinnacle Foods, Inc. has a 12-month low of $46.36 and a 12-month high of $66.67. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 38.73 and a beta of 0.34. The firm’s 50-day moving average price is $59.83 and its 200 day moving average price is $58.50.

Pinnacle Foods (NYSE:PF) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.01. The business had revenue of $744.61 million during the quarter, compared to the consensus estimate of $764.41 million. Pinnacle Foods had a return on equity of 14.47% and a net margin of 5.82%. Pinnacle Foods’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. On average, analysts expect that Pinnacle Foods, Inc. will post $2.56 earnings per share for the current year.

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PF has been the topic of several recent research reports. BidaskClub upgraded Pinnacle Foods from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 27th. Royal Bank Of Canada restated a “buy” rating and issued a $66.00 price target on shares of Pinnacle Foods in a research report on Friday, April 28th. Deutsche Bank AG raised their price target on Pinnacle Foods from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Credit Suisse Group restated an “outperform” rating and issued a $65.00 price target (up from $62.00) on shares of Pinnacle Foods in a research report on Sunday, April 23rd. Finally, Zacks Investment Research upgraded Pinnacle Foods from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $64.36.

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 sale, the chief financial officer now owns 204,364 shares of the company’s stock, valued at $12,182,138.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christopher J. Boever sold 26,682 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $59.02, for a total transaction of $1,574,771.64. Following the sale, the executive vice president now directly owns 66,296 shares in the company, valued at approximately $3,912,789.92. The disclosure for this sale can be found here. Insiders have sold 134,739 shares of company stock worth $7,996,311 in the last ninety days. Insiders own 1.34% of the company’s stock.

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

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