Stormborn Capital Management LLC purchased a new position in shares of Pinnacle Foods Inc (NYSE:PF) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 140,600 shares of the company’s stock, valued at approximately $8,361,000. Pinnacle Foods accounts for 6.0% of Stormborn Capital Management LLC’s holdings, making the stock its 9th largest position.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new stake in shares of Pinnacle Foods in the fourth quarter valued at $133,000. American International Group Inc. acquired a new stake in shares of Pinnacle Foods in the fourth quarter valued at $147,000. Fortaleza Asset Management Inc. acquired a new stake in shares of Pinnacle Foods in the fourth quarter valued at $166,000. Miles Capital Inc. acquired a new stake in shares of Pinnacle Foods in the fourth quarter valued at $204,000. Finally, Suntrust Banks Inc. acquired a new stake in shares of Pinnacle Foods in the fourth quarter valued at $218,000. Institutional investors and hedge funds own 92.79% of the company’s stock.
Shares of Pinnacle Foods Inc (PF) opened at $55.90 on Monday. The company has a current ratio of 1.80, a quick ratio of 0.81 and a debt-to-equity ratio of 1.49. Pinnacle Foods Inc has a 52-week low of $52.81 and a 52-week high of $66.67. The company has a market capitalization of $6,680.00, a PE ratio of 37.93, a PEG ratio of 2.51 and a beta of 0.34.
A number of analysts have weighed in on PF shares. Credit Suisse Group set a $67.00 price target on Pinnacle Foods and gave the company a “buy” rating in a research note on Wednesday, January 10th. Zacks Investment Research upgraded Pinnacle Foods from a “sell” rating to a “hold” rating in a research note on Friday, February 16th. Finally, JPMorgan Chase & Co. raised their price target on Pinnacle Foods from $63.00 to $64.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $64.91.
Pinnacle Foods 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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