Neuberger Berman Group LLC increased its position in Pinnacle Foods, Inc. (NYSE:PF) by 5.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 956,170 shares of the company’s stock after buying an additional 51,906 shares during the period. Neuberger Berman Group LLC owned approximately 0.80% of Pinnacle Foods worth $56,796,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Gabelli Funds LLC raised its position in shares of Pinnacle Foods by 1.0% in the first quarter. Gabelli Funds LLC now owns 60,600 shares of the company’s stock worth $3,507,000 after buying an additional 600 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Pinnacle Foods by 75.2% in the first quarter. UBS Asset Management Americas Inc. now owns 106,627 shares of the company’s stock worth $6,171,000 after buying an additional 45,763 shares during the period. World Asset Management Inc raised its position in shares of Pinnacle Foods by 2.8% in the first quarter. World Asset Management Inc now owns 4,250 shares of the company’s stock worth $246,000 after buying an additional 116 shares during the period. Swiss National Bank raised its position in shares of Pinnacle Foods by 0.6% in the first quarter. Swiss National Bank now owns 195,080 shares of the company’s stock worth $11,289,000 after buying an additional 1,100 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Pinnacle Foods by 25.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,374 shares of the company’s stock worth $253,000 after buying an additional 891 shares during the period. Institutional investors and hedge funds own 95.44% of the company’s stock.

Shares of Pinnacle Foods, Inc. (NYSE PF) opened at 60.20 on Friday. The stock has a 50 day moving average price of $59.96 and a 200-day moving average price of $59.18. Pinnacle Foods, Inc. has a 12-month low of $46.36 and a 12-month high of $66.67. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of 39.22 and a beta of 0.35.

Pinnacle Foods (NYSE:PF) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to analyst estimates of $764.41 million. During the same quarter in the previous year, the business earned $0.42 EPS. The firm’s revenue was down 1.6% on a year-over-year basis. Equities analysts anticipate that Pinnacle Foods, Inc. will post $2.56 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 9th. Stockholders of record on Tuesday, August 29th will be issued a $0.325 dividend. This is a positive change from Pinnacle Foods’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, August 25th. This represents a $1.30 annualized dividend and a dividend yield of 2.16%. Pinnacle Foods’s payout ratio is 84.97%.

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A number of equities analysts have issued reports on PF shares. BidaskClub raised Pinnacle Foods from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $67.00 price target (up from $66.00) on shares of Pinnacle Foods in a research note on Tuesday, July 25th. Zacks Investment Research raised Pinnacle Foods from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research note on Tuesday, June 27th. BMO Capital Markets reaffirmed a “buy” rating and set a $63.00 price target on shares of Pinnacle Foods in a research note on Tuesday, June 27th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $68.00 price target (up from $65.00) on shares of Pinnacle Foods in a research note on Wednesday, June 28th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Pinnacle Foods presently has a consensus rating of “Buy” and a consensus price target of $65.36.

In related news, 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 value of $1,574,771.64. Following the completion of the transaction, the executive vice president now directly owns 66,296 shares of the company’s stock, valued at approximately $3,912,789.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 completion of the transaction, the executive vice president now directly owns 17,802 shares of the company’s stock, valued at $1,055,658.60. The disclosure for this sale can be found here. Insiders sold a total of 151,777 shares of company stock valued at $9,028,984 in the last three months. 1.34% of the stock is owned by company insiders.

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.

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

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