Harvest Management LLC Increases Position in Pinnacle Foods Inc (PF)
Harvest Management LLC boosted its stake in shares of Pinnacle Foods Inc (NYSE:PF) by 188.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 86,400 shares of the company’s stock after acquiring an additional 56,400 shares during the quarter. Pinnacle Foods accounts for 3.3% of Harvest Management LLC’s holdings, making the stock its 7th largest position. Harvest Management LLC’s holdings in Pinnacle Foods were worth $5,600,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. Fort L.P. purchased a new stake in shares of Pinnacle Foods in the second quarter valued at approximately $123,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Pinnacle Foods in the second quarter valued at approximately $130,000. Steward Partners Investment Advisory LLC increased its position in shares of Pinnacle Foods by 100.5% in the second 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 in the last quarter. Signition LP purchased a new stake in shares of Pinnacle Foods in the second quarter valued at approximately $201,000. Finally, Engineers Gate Manager LP purchased a new stake in shares of Pinnacle Foods in the second quarter valued at approximately $202,000. Institutional investors own 94.33% of the company’s stock.
PF has been the topic of a number of research analyst reports. Zacks Investment Research lowered Pinnacle Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Jefferies Financial Group lowered Pinnacle Foods from a “buy” rating to a “hold” rating and set a $68.00 price target on the stock. in a research note on Monday, October 15th. CL King lowered 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 price target on the stock. in a research note on Friday, August 3rd. Thirteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $67.20.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Tuesday, September 4th were paid 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 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.
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