Caxton Associates LP grew its position in shares of Pinnacle Foods Inc (NYSE:PF) by 40.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 70,000 shares of the company’s stock after purchasing an additional 20,000 shares during the period. Caxton Associates LP’s holdings in Pinnacle Foods were worth $4,163,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Three Peaks Capital Management LLC boosted its stake in shares of Pinnacle Foods by 31.5% during the 4th quarter. Three Peaks Capital Management LLC now owns 231,461 shares of the company’s stock worth $13,765,000 after acquiring an additional 55,463 shares in the last quarter. BT Investment Management Ltd boosted its stake in shares of Pinnacle Foods by 25.5% during the 3rd quarter. BT Investment Management Ltd now owns 14,499 shares of the company’s stock worth $829,000 after acquiring an additional 2,944 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Pinnacle Foods by 11.1% during the 3rd quarter. Janus Henderson Group PLC now owns 253,220 shares of the company’s stock worth $14,477,000 after acquiring an additional 25,200 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Pinnacle Foods by 18.4% during the 3rd quarter. Legal & General Group Plc now owns 82,648 shares of the company’s stock worth $4,726,000 after acquiring an additional 12,866 shares in the last quarter. Finally, Miles Capital Inc. bought a new stake in shares of Pinnacle Foods during the 4th quarter worth $204,000. Institutional investors own 95.30% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Credit Suisse Group set a $67.00 price objective on Pinnacle Foods and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Zacks Investment Research lowered Pinnacle Foods from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. raised their price objective on Pinnacle Foods from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. ValuEngine raised Pinnacle Foods from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Royal Bank of Canada reissued a “buy” rating on shares of Pinnacle Foods in a research note on Friday, March 2nd. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $64.64.
Pinnacle Foods (NYSE:PF) last issued its earnings results on Thursday, March 1st. The company reported $0.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.01). The business had revenue of $883.51 million during the quarter, compared to analyst estimates of $896.53 million. Pinnacle Foods had a return on equity of 14.75% and a net margin of 16.92%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the business earned $0.79 EPS. research analysts expect that Pinnacle Foods Inc will post 2.9 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 11th. Stockholders of record on Tuesday, February 27th will be given a $0.325 dividend. The ex-dividend date of this dividend is Monday, February 26th. This represents a $1.30 annualized dividend and a dividend yield of 2.26%. Pinnacle Foods’s dividend payout ratio (DPR) is presently 78.79%.
In other Pinnacle Foods news, Director Muktesh Pant bought 20,000 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The stock was acquired at an average price of $56.93 per share, with a total value of $1,138,600.00. Following the completion of the transaction, the director now directly owns 49,706 shares in the company, valued at approximately $2,829,762.58. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.34% of the company’s stock.
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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