State of New Jersey Common Pension Fund D grew its holdings in shares of Pinnacle Foods Inc (NYSE:PF) by 25.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,251,578 shares of the company’s stock after acquiring an additional 250,000 shares during the quarter. State of New Jersey Common Pension Fund D owned about 1.05% of Pinnacle Foods worth $81,115,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of PF. Fort L.P. purchased a new stake in Pinnacle Foods in the second quarter worth $123,000. NumerixS Investment Technologies Inc purchased a new stake in Pinnacle Foods in the second quarter worth $130,000. Steward Partners Investment Advisory LLC grew its stake in Pinnacle Foods by 100.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 2,194 shares of the company’s stock worth $143,000 after purchasing an additional 1,100 shares during the period. CenterStar Asset Management LLC grew its stake in Pinnacle Foods by 299,900.0% in the second quarter. CenterStar Asset Management LLC now owns 3,000 shares of the company’s stock worth $196,000 after purchasing an additional 2,999 shares during the period. Finally, Ostrum Asset Management purchased a new stake in Pinnacle Foods in the first quarter worth $164,000. Hedge funds and other institutional investors own 94.33% of the company’s stock.
PF stock opened at $66.66 on Wednesday. Pinnacle Foods Inc has a fifty-two week low of $52.25 and a fifty-two week high of $70.51.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Tuesday, September 4th were issued a $0.325 dividend. This represents a $1.30 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date was Friday, August 31st.
PF has been the topic of a number of recent research reports. Zacks Investment Research raised Pinnacle Foods from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a research note on Tuesday, July 10th. Buckingham Research increased their target price on Pinnacle Foods from $62.00 to $68.00 and gave the stock a “neutral” rating in a research note on Friday, July 20th. CL King cut Pinnacle Foods from a “buy” rating to a “neutral” rating in a research note on Thursday, August 2nd. JPMorgan Chase & Co. cut Pinnacle Foods from an “overweight” rating to a “neutral” rating and set a $64.00 target price on the stock. in a research note on Friday, August 3rd. Finally, Piper Jaffray Companies downgraded 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. Thirteen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Pinnacle Foods presently has an average rating of “Hold” and a consensus target price of $67.20.
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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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