Renaissance Technologies LLC cut its holdings in shares of Pinnacle Foods Inc (NYSE:PF) by 73.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 269,500 shares of the company’s stock after selling 743,800 shares during the period. Renaissance Technologies LLC owned approximately 0.23% of Pinnacle Foods worth $17,534,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. NumerixS Investment Technologies Inc acquired a new stake in Pinnacle Foods in the 2nd quarter worth about $130,000. Steward Partners Investment Advisory LLC boosted its holdings in Pinnacle Foods by 100.5% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 2,194 shares of the company’s stock worth $143,000 after buying an additional 1,100 shares during the last quarter. Ostrum Asset Management acquired a new stake in Pinnacle Foods in the 1st quarter worth about $164,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in Pinnacle Foods by 41.4% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,599 shares of the company’s stock worth $195,000 after buying an additional 1,053 shares during the last quarter. Finally, CenterStar Asset Management LLC boosted its holdings in Pinnacle Foods by 299,900.0% in the 2nd quarter. CenterStar Asset Management LLC now owns 3,000 shares of the company’s stock worth $196,000 after buying an additional 2,999 shares during the last quarter. Hedge funds and other institutional investors own 94.57% of the company’s stock.
PF opened at $66.16 on Thursday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.62 and a current ratio of 1.51. Pinnacle Foods Inc has a 1-year low of $52.25 and a 1-year high of $70.51. The company has a market capitalization of $7.93 billion, a price-to-earnings ratio of 25.95, a price-to-earnings-growth ratio of 2.87 and a beta of 0.47.
Pinnacle Foods (NYSE:PF) last released its earnings results on Thursday, August 2nd. The company reported $0.59 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.59. Pinnacle Foods had a net margin of 19.14% and a return on equity of 13.96%. The business had revenue of $741.80 million for the quarter, compared to analyst estimates of $749.29 million. During the same period last year, the company posted $0.53 EPS. The business’s revenue was down .4% on a year-over-year basis. sell-side analysts forecast that Pinnacle Foods Inc will post 2.9 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Tuesday, September 4th will be paid a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date is Friday, August 31st. Pinnacle Foods’s dividend payout ratio (DPR) is 50.98%.
Several research firms recently issued reports on PF. Deutsche Bank cut Pinnacle Foods from a “buy” rating to a “hold” rating in a report on Wednesday, June 27th. Piper Jaffray Companies cut Pinnacle Foods from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $69.00 to $68.00 in a report on Monday. JPMorgan Chase & Co. cut Pinnacle Foods from an “overweight” rating to a “neutral” rating and set a $64.00 price objective on the stock. in a report on Friday, August 3rd. Zacks Investment Research cut Pinnacle Foods from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, CL King cut Pinnacle Foods from a “buy” rating to a “neutral” rating in a report on Thursday, August 2nd. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Pinnacle Foods presently has a consensus rating of “Hold” and an average target price of $67.60.
About Pinnacle Foods
Pinnacle Foods Inc manufactures, markets, and distributes branded convenience food products in North America. It operates through four segments: Frozen, Grocery, Boulder, and Specialty. The Frozen segment offers frozen vegetables, frozen complete bagged meals, frozen prepared seafood, frozen and refrigerated bagels, frozen pizza, and full-calorie single-serve frozen dinners and entrées under the Birds Eye, Birds Eye Voila!, Van de Kamp's, Mrs.
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