TD Asset Management Inc. Sells 1,200 Shares of Pinnacle Foods Inc (PF)

TD Asset Management Inc. Sells 1,200 Shares of Pinnacle Foods Inc (PF)

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PF. Acrospire Investment Management LLC boosted its position in shares of Pinnacle Foods by 107.1% in the first quarter. Acrospire Investment Management LLC now owns 2,900 shares of the company’s stock valued at $168,000 after buying an additional 1,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Pinnacle Foods by 14.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,483 shares of the company’s stock valued at $175,000 after buying an additional 441 shares during the period. Pacer Advisors Inc. boosted its position in shares of Pinnacle Foods by 7.4% in the third quarter. Pacer Advisors Inc. now owns 3,944 shares of the company’s stock valued at $198,000 after buying an additional 272 shares during the period. Asset Management One Co. Ltd. purchased a new position in shares of Pinnacle Foods during the fourth quarter valued at about $246,000. Finally, World Asset Management Inc boosted its position in shares of Pinnacle Foods by 2.8% in the first quarter. World Asset Management Inc now owns 4,250 shares of the company’s stock valued at $246,000 after buying an additional 116 shares during the period.

TD Asset Management Inc. decreased its position in shares of Pinnacle Foods Inc (NYSE:PF) by 2.5% during the first quarter, Holdings Channel reports. The institutional investor owned 46,100 shares of the company’s stock after selling 1,200 shares during the period. TD Asset Management Inc.’s holdings in Pinnacle Foods were worth $2,668,000 as of its most recent filing with the SEC.

Shares of Pinnacle Foods Inc (PF) opened at 61.38 on Tuesday. The firm’s 50-day moving average price is $58.87 and its 200 day moving average price is $55.16. The company has a market cap of $7.28 billion, a PE ratio of 34.76 and a beta of 0.30. Pinnacle Foods Inc has a 12 month low of $41.87 and a 12 month high of $63.75.

Pinnacle Foods (NYSE:PF) last posted its quarterly earnings results on Thursday, April 27th. The company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.04. The business had revenue of $766.10 million during the quarter, compared to the consensus estimate of $766.52 million. Pinnacle Foods had a net margin of 6.76% and a return on equity of 13.25%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 earnings per share. Equities research analysts anticipate that Pinnacle Foods Inc will post $2.60 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Tuesday, June 6th will be paid a dividend of $0.285 per share. The ex-dividend date is Friday, June 2nd. This represents a $1.14 dividend on an annualized basis and a dividend yield of 1.85%. Pinnacle Foods’s payout ratio is currently 66.67%.

PF has been the topic of several research analyst reports. Deutsche Bank AG initiated coverage on Pinnacle Foods in a research note on Wednesday, February 15th. They issued a “buy” rating and a $61.00 price objective on the stock. Royal Bank of Canada increased their price objective on Pinnacle Foods from $58.00 to $64.00 and gave the stock a “positive” rating in a research note on Friday, February 24th. Credit Suisse Group AG set a $62.00 price objective on Pinnacle Foods and gave the stock a “buy” rating in a research note on Saturday, February 25th. Zacks Investment Research cut Pinnacle Foods from a “buy” rating to a “hold” rating in a research note on Monday, February 27th. Finally, Barclays PLC reissued a “buy” rating on shares of Pinnacle Foods in a research note on Wednesday, March 1st. Two research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Pinnacle Foods has a consensus rating of “Buy” and a consensus price target of $60.36.

In related news, EVP Mark L. Schiller sold 40,000 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $57.50, for a total value of $2,300,000.00. Following the completion of the sale, the executive vice president now directly owns 90,000 shares of the company’s stock, valued at $5,175,000. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Michael J. Barkley sold 10,000 shares of the business’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $60.44, for a total transaction of $604,400.00. Following the completion of the sale, the executive vice president now directly owns 17,355 shares of the company’s stock, valued at $1,048,936.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 121,408 shares of company stock valued at $7,048,295. Insiders own 2.75% of the company’s stock.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “PF”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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