OxFORD Asset Management LLP Grows Position in Pinnacle Foods, Inc. (PF)

OxFORD Asset Management LLP boosted its position in shares of Pinnacle Foods, Inc. (NYSE:PF) by 22.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,797 shares of the company’s stock after purchasing an additional 11,699 shares during the period. OxFORD Asset Management LLP owned 0.05% of Pinnacle Foods worth $3,672,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PF. BlueMountain Capital Management LLC raised its holdings in Pinnacle Foods by 3,929.6% during the second quarter. BlueMountain Capital Management LLC now owns 1,223,518 shares of the company’s stock valued at $72,677,000 after buying an additional 1,193,155 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Pinnacle Foods by 66.4% during the second quarter. Renaissance Technologies LLC now owns 2,559,700 shares of the company’s stock valued at $152,046,000 after buying an additional 1,021,200 shares in the last quarter. Vanguard Group Inc. raised its holdings in Pinnacle Foods by 6.6% during the second quarter. Vanguard Group Inc. now owns 10,334,808 shares of the company’s stock valued at $613,888,000 after buying an additional 640,620 shares in the last quarter. Capital World Investors raised its holdings in Pinnacle Foods by 5.9% during the second quarter. Capital World Investors now owns 9,378,050 shares of the company’s stock valued at $557,056,000 after buying an additional 525,000 shares in the last quarter. Finally, Davidson Kempner Capital Management LP bought a new position in Pinnacle Foods during the second quarter valued at about $26,730,000. 95.31% of the stock is owned by hedge funds and other institutional investors.

Pinnacle Foods, Inc. (NYSE:PF) traded down $0.49 during trading on Friday, hitting $56.96. The stock had a trading volume of 943,000 shares, compared to its average volume of 1,192,500. The company has a quick ratio of 0.81, a current ratio of 1.80 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $6,837.48, a price-to-earnings ratio of 23.94, a PEG ratio of 2.81 and a beta of 0.33. Pinnacle Foods, Inc. has a twelve month low of $50.19 and a twelve month high of $66.67.

Pinnacle Foods (NYSE:PF) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.58 EPS for the quarter, hitting analysts’ consensus estimates of $0.58. The business had revenue of $749.80 million for the quarter, compared to analyst estimates of $753.10 million. Pinnacle Foods had a return on equity of 14.63% and a net margin of 5.65%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 earnings per share. analysts predict that Pinnacle Foods, Inc. will post 2.55 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Tuesday, December 19th will be paid a $0.325 dividend. The ex-dividend date is Monday, December 18th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 2.28%. Pinnacle Foods’s payout ratio is presently 87.84%.

PF has been the topic of several recent research reports. Zacks Investment Research lowered Pinnacle Foods from a “buy” rating to a “hold” rating in a report on Tuesday, October 31st. BidaskClub upgraded Pinnacle Foods from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Buckingham Research cut their target price on Pinnacle Foods from $68.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, October 27th. Credit Suisse Group cut their target price on Pinnacle Foods from $65.00 to $64.00 and set an “outperform” rating on the stock in a report on Wednesday, October 4th. Finally, UBS restated a “buy” rating and set a $65.00 target price on shares of Pinnacle Foods in a report on Monday, August 28th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Pinnacle Foods presently has an average rating of “Buy” and an average target price of $64.25.

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

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