Clearfield Capital Management Lp buys $29,646,013 stake in Pinnacle Foods Inc (PF)

Pinnacle Foods Inc (PF) : Clearfield Capital Management Lp scooped up 198,505 additional shares in Pinnacle Foods Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 598,305 shares of Pinnacle Foods Inc which is valued at $29,646,013.Pinnacle Foods Inc makes up approximately 8.28% of Clearfield Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Ontario Teachers Pension Plan Board sold out all of its stake in PF during the most recent quarter. The investment firm sold 51,400 shares of PF which is valued $2,546,870.First Trust Advisors Lp boosted its stake in PF in the latest quarter, The investment management firm added 20,689 additional shares and now holds a total of 91,107 shares of Pinnacle Foods Inc which is valued at $4,525,285. Pinnacle Foods Inc makes up approx 0.01% of First Trust Advisors Lp’s portfolio.Rothschild Asset Management Inc boosted its stake in PF in the latest quarter, The investment management firm added 4,024 additional shares and now holds a total of 196,950 shares of Pinnacle Foods Inc which is valued at $9,888,860. Pinnacle Foods Inc makes up approx 0.17% of Rothschild Asset Management Inc’s portfolio.Sit Investment Associates Inc boosted its stake in PF in the latest quarter, The investment management firm added 17,750 additional shares and now holds a total of 19,350 shares of Pinnacle Foods Inc which is valued at $971,564. Pinnacle Foods Inc makes up approx 0.03% of Sit Investment Associates Inc’s portfolio. Concert Wealth Management added PF to its portfolio by purchasing 6,120 company shares during the most recent quarter which is valued at $307,285. Pinnacle Foods Inc makes up approx 0.04% of Concert Wealth Management’s portfolio.

Pinnacle Foods Inc opened for trading at $49.72 and hit $50.9 on the upside on Monday, eventually ending the session at $50.84, with a gain of 2.48% or 1.23 points. The heightened volatility saw the trading volume jump to 11,59,045 shares. Company has a market cap of $5,998 M.

On the company’s financial health, Pinnacle Foods Inc reported $0.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.39. The company had revenue of $756.40 million for the quarter, compared to analysts expectations of $755.62 million. The company’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.

Many Wall Street Analysts have commented on Pinnacle Foods Inc. Company shares were Reiterated by DA Davidson on Jul 29, 2016 to “Neutral”, Firm has raised the Price Target to $ 47 from a previous price target of $42 .Stifel Upgraded Pinnacle Foods Inc on Jul 29, 2016 to ” Buy”, Price Target of the shares are set at $55.Company shares were Upgraded by Goldman on Jul 12, 2016 to ” Buy”, Firm has raised the Price Target to $ 57 from a previous price target of $48 .

Pinnacle Foods Inc. is a manufacturer marketer and distributor of food products in North America. The Company’s 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. The Company operates through three segments: the Birds Eye Frozen segment the Duncan Hines Grocery segment and the Specialty Foods segment. The Birds Eye Frozen segment and the Duncan Hines Grocery segment which collectively represent its North America Retail operations include Birds Eye Birds Eye Voila! Van de Kamp’s Mrs. Paul’s Lender’s Celeste Hungry-Man and Aunt Jemima brands. The Duncan Hines Grocery Segment includes Duncan Hines Vlasic Log Cabin Armour Brooks and Nalley brand among others. Specialty Foods Segment consists of Snack Products and Foodservice and Private Label.

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