Pinnacle Foods Inc (PF) Receives Consensus Rating of “Hold” from Analysts

Shares of Pinnacle Foods Inc (NYSE:PF) have been assigned an average recommendation of “Hold” from the sixteen research firms that are covering the company, Marketbeat reports. Thirteen research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $66.86.

A number of brokerages recently commented on PF. Zacks Investment Research downgraded shares of Pinnacle Foods from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Jefferies Financial Group downgraded shares of Pinnacle Foods from a “buy” rating to a “hold” rating and set a $68.00 price target for the company. in a report on Monday, October 15th. Piper Jaffray Companies downgraded shares of Pinnacle Foods from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $69.00 to $68.00 in a report on Monday, September 24th. Finally, ValuEngine raised shares of Pinnacle Foods from a “hold” rating to a “buy” rating in a report on Monday, October 8th.

Shares of PF remained flat at $$66.66 during midday trading on Thursday. Pinnacle Foods has a 12-month low of $52.25 and a 12-month high of $70.51.

A number of hedge funds and other institutional investors have recently made changes to their positions in PF. Vanguard Group Inc. increased its position in shares of Pinnacle Foods by 1.3% during the third quarter. Vanguard Group Inc. now owns 10,785,231 shares of the company’s stock worth $698,991,000 after acquiring an additional 133,341 shares during the period. BlackRock Inc. increased its position in shares of Pinnacle Foods by 0.5% during the second quarter. BlackRock Inc. now owns 4,847,490 shares of the company’s stock worth $315,380,000 after acquiring an additional 23,096 shares during the period. Levin Capital Strategies L.P. increased its position in shares of Pinnacle Foods by 17.0% during the second quarter. Levin Capital Strategies L.P. now owns 3,509,065 shares of the company’s stock worth $228,300,000 after acquiring an additional 509,511 shares during the period. Alpine Associates Management Inc. increased its position in shares of Pinnacle Foods by 49.6% during the third quarter. Alpine Associates Management Inc. now owns 2,591,300 shares of the company’s stock worth $167,942,000 after acquiring an additional 858,959 shares during the period. Finally, Water Island Capital LLC increased its position in shares of Pinnacle Foods by 198.1% during the third quarter. Water Island Capital LLC now owns 2,129,034 shares of the company’s stock worth $137,983,000 after acquiring an additional 1,414,845 shares during the period. 94.33% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Pinnacle Foods (NYSE:PF)

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