First Republic Investment Management Inc. Takes $329,000 Position in Pinnacle Foods Inc (PF)

First Republic Investment Management Inc. acquired a new position in shares of Pinnacle Foods Inc (NYSE:PF) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,058 shares of the company’s stock, valued at approximately $329,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Stanley Laman Group Ltd. increased its stake in shares of Pinnacle Foods by 6.0% during the 2nd quarter. Stanley Laman Group Ltd. now owns 14,471 shares of the company’s stock worth $942,000 after purchasing an additional 821 shares during the last quarter. Sumitomo Life Insurance Co. grew its stake in Pinnacle Foods by 5.1% in the 2nd quarter. Sumitomo Life Insurance Co. now owns 19,083 shares of the company’s stock valued at $1,242,000 after buying an additional 934 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake 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 valued at $195,000 after buying an additional 1,053 shares during the last quarter. Stifel Financial Corp grew its stake in Pinnacle Foods by 3.2% in the 1st quarter. Stifel Financial Corp now owns 34,701 shares of the company’s stock valued at $1,874,000 after buying an additional 1,063 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake 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 valued at $143,000 after buying an additional 1,100 shares during the last quarter. Institutional investors own 94.57% of the company’s stock.

NYSE PF opened at $66.16 on Thursday. The company has a quick ratio of 0.62, a current ratio of 1.51 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 2.87 and a beta of 0.47. Pinnacle Foods Inc has a 12-month low of $52.25 and a 12-month high of $70.51.

Pinnacle Foods (NYSE:PF) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $0.59 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.59. The firm had revenue of $741.80 million during the quarter, compared to the consensus estimate of $749.29 million. Pinnacle Foods had a net margin of 19.14% and a return on equity of 13.96%. The business’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.53 EPS. research analysts forecast that Pinnacle Foods Inc will post 2.9 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Tuesday, September 4th will be issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Friday, August 31st. Pinnacle Foods’s dividend payout ratio is currently 50.98%.

PF has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Pinnacle Foods from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a research note on Tuesday, July 10th. Barclays lowered shares of Pinnacle Foods from an “overweight” rating to an “equal weight” rating in a research note on Friday, June 29th. Deutsche Bank lowered shares of Pinnacle Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, June 27th. Stifel Nicolaus lowered shares of Pinnacle Foods from a “buy” rating to a “hold” rating and upped their price target for the company from $63.00 to $68.00 in a research note on Monday, July 2nd. Finally, BMO Capital Markets lowered shares of Pinnacle Foods from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 28th. Twelve investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $67.60.

Pinnacle Foods Company Profile

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.

Read More: Intrinsic Value

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

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