Iridian Asset Management LLC CT reduced its stake in shares of Pinnacle Foods, Inc. (NYSE:PF) by 39.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,143,350 shares of the company’s stock after selling 753,458 shares during the quarter. Iridian Asset Management LLC CT owned about 0.96% of Pinnacle Foods worth $65,365,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Alps Advisors Inc. raised its stake in shares of Pinnacle Foods by 0.3% during the second quarter. Alps Advisors Inc. now owns 8,171 shares of the company’s stock valued at $485,000 after purchasing an additional 21 shares in the last quarter. World Asset Management Inc raised its stake in shares of Pinnacle Foods by 0.9% during the second quarter. World Asset Management Inc now owns 4,289 shares of the company’s stock valued at $255,000 after purchasing an additional 39 shares in the last quarter. Hanseatic Management Services Inc. raised its stake in shares of Pinnacle Foods by 0.3% during the second quarter. Hanseatic Management Services Inc. now owns 18,710 shares of the company’s stock valued at $1,111,000 after purchasing an additional 47 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Pinnacle Foods by 1.4% during the second quarter. Teacher Retirement System of Texas now owns 9,365 shares of the company’s stock valued at $556,000 after purchasing an additional 132 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in shares of Pinnacle Foods by 0.7% during the second quarter. Stifel Financial Corp now owns 22,881 shares of the company’s stock valued at $1,360,000 after purchasing an additional 155 shares in the last quarter. Institutional investors and hedge funds own 95.61% of the company’s stock.

Pinnacle Foods, Inc. (NYSE:PF) traded up $0.91 during midday trading on Friday, reaching $55.94. The company’s stock had a trading volume of 842,300 shares, compared to its average volume of 1,204,731. The company has a current ratio of 1.80, a quick ratio of 0.81 and a debt-to-equity ratio of 1.49. The firm has a market cap of $6,610.00, a P/E ratio of 22.93, a PEG ratio of 2.70 and a beta of 0.31. Pinnacle Foods, Inc. has a 12-month low of $48.38 and a 12-month high of $66.67.

Pinnacle Foods (NYSE:PF) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.58 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. The firm had revenue of $749.80 million for the quarter, compared to the consensus estimate of $753.10 million. Pinnacle Foods had a return on equity of 14.63% and a net margin of 5.65%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.53 EPS. research analysts forecast that Pinnacle Foods, Inc. will post 2.55 earnings per share for the current fiscal year.

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Several equities research analysts have commented on PF shares. Zacks Investment Research cut shares of Pinnacle Foods from a “buy” rating to a “hold” rating in a research report on Tuesday, October 31st. Credit Suisse Group dropped their price target on shares of Pinnacle Foods from $64.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, October 27th. Buckingham Research dropped their price target on shares of Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, October 27th. UBS AG reiterated a “buy” rating and issued a $65.00 price target on shares of Pinnacle Foods in a research report on Monday, August 28th. Finally, BidaskClub upgraded shares of Pinnacle Foods from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $64.25.

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.

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

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