Pinnacle Foods, Inc. (NYSE:PF) Shares Sold by Sei Investments Co.
Sei Investments Co. reduced its stake in Pinnacle Foods, Inc. (NYSE:PF) by 12.4% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 155,784 shares of the company’s stock after selling 21,988 shares during the period. Sei Investments Co.’s holdings in Pinnacle Foods were worth $9,254,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. World Asset Management Inc boosted its stake in Pinnacle Foods by 0.9% in the second quarter. World Asset Management Inc now owns 4,289 shares of the company’s stock valued at $255,000 after buying an additional 39 shares in the last quarter. Pegasus Partners Ltd. boosted its stake in Pinnacle Foods by 0.8% in the first quarter. Pegasus Partners Ltd. now owns 15,869 shares of the company’s stock valued at $918,000 after buying an additional 124 shares in the last quarter. KCG Holdings Inc. boosted its stake in Pinnacle Foods by 2.2% in the first quarter. KCG Holdings Inc. now owns 9,329 shares of the company’s stock valued at $540,000 after buying an additional 203 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Pinnacle Foods by 4.7% in the first quarter. State of Alaska Department of Revenue now owns 5,410 shares of the company’s stock valued at $313,000 after buying an additional 243 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in Pinnacle Foods by 0.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 99,067 shares of the company’s stock valued at $5,733,000 after buying an additional 290 shares in the last quarter. 97.00% of the stock is currently owned by institutional investors and hedge funds.
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 50-day moving average of $59.83 and a 200 day moving average of $58.50. The stock has a market cap of $7.06 billion, a price-to-earnings ratio of 38.73 and a beta of 0.34.
Pinnacle Foods (NYSE:PF) last announced its quarterly earnings results on Thursday, July 27th. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The business had revenue of $744.61 million during the quarter, compared to analysts’ expectations of $764.41 million. Pinnacle Foods had a return on equity of 14.47% and a net margin of 5.82%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 EPS. Equities analysts anticipate that Pinnacle Foods, Inc. will post $2.56 earnings per share for the current year.
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Several equities research analysts recently issued reports on the stock. Berenberg Bank assumed coverage on shares of Pinnacle Foods in a research report on Tuesday, May 16th. They issued a “buy” rating and a $68.00 target price on the stock. BMO Capital Markets restated a “buy” rating and issued a $63.00 price target on shares of Pinnacle Foods in a report on Tuesday, June 27th. BidaskClub lowered shares of Pinnacle Foods from a “strong-buy” rating to a “buy” rating in a report on Monday, July 3rd. J P Morgan Chase & Co restated an “overweight” rating and issued a $68.00 price target (up previously from $65.00) on shares of Pinnacle Foods in a report on Wednesday, June 28th. Finally, Credit Suisse Group set a $62.00 price target on shares of Pinnacle Foods and gave the company a “buy” rating in a report on Thursday, April 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $64.36.
In related news, EVP Christopher J. Boever sold 26,682 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $59.02, for a total value of $1,574,771.64. Following the completion of the sale, the executive vice president now 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 at this link. Also, EVP Mark L. Schiller sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $59.37, for a total value of $2,968,500.00. Following the completion of the sale, the executive vice president now directly owns 96,377 shares of the company’s stock, valued at approximately $5,721,902.49. The disclosure for this sale can be found here. In the last three months, insiders sold 134,739 shares of company stock valued at $7,996,311. 1.34% of the stock is currently owned by company insiders.
About Pinnacle Foods
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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