Strs Ohio lifted its stake in Pinnacle Foods Inc (NYSE:PF) by 35.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,808 shares of the company’s stock after purchasing an additional 2,286 shares during the quarter. Strs Ohio’s holdings in Pinnacle Foods were worth $570,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Northern Trust Corp grew its stake in shares of Pinnacle Foods by 1.3% in the second quarter. Northern Trust Corp now owns 817,737 shares of the company’s stock valued at $53,203,000 after buying an additional 10,479 shares in the last quarter. BlackRock Inc. grew its stake in shares of Pinnacle Foods by 0.5% in the second quarter. BlackRock Inc. now owns 4,847,490 shares of the company’s stock valued at $315,380,000 after buying an additional 23,096 shares in the last quarter. First American Bank acquired a new stake in shares of Pinnacle Foods in the third quarter valued at $2,493,000. Soros Fund Management LLC acquired a new stake in shares of Pinnacle Foods in the second quarter valued at $9,697,000. Finally, State of New Jersey Common Pension Fund D grew its stake in shares of Pinnacle Foods by 25.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 1,251,578 shares of the company’s stock valued at $81,115,000 after buying an additional 250,000 shares in the last quarter. 94.33% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on PF shares. Zacks Investment Research cut Pinnacle Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Jefferies Financial Group cut Pinnacle Foods from a “buy” rating to a “hold” rating and set a $68.00 price objective for the company. in a research note on Monday, October 15th. CL King cut Pinnacle Foods from a “buy” rating to a “neutral” rating in a research note on Thursday, August 2nd. ValuEngine raised Pinnacle Foods from a “hold” rating to a “buy” rating in a research note on Monday, October 8th. Finally, JPMorgan Chase & Co. lowered Pinnacle Foods from an “overweight” rating to a “neutral” rating and set a $64.00 target price for the company. in a report on Friday, August 3rd. Thirteen research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $67.20.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Tuesday, September 4th were issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Friday, August 31st.
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Pinnacle Foods 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.
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