Systematic Financial Management Lp buys $119,466,950 stake in Pinnacle Foods Inc (PF)

Pinnacle Foods Inc (PF) : Systematic Financial Management Lp scooped up 120,366 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 9, 2016. The investment management firm now holds a total of 2,421,791 shares of Pinnacle Foods Inc which is valued at $119,466,950.Pinnacle Foods Inc makes up approximately 1.55% of Systematic Financial Management Lp’s portfolio.

Other Hedge Funds, Including , Pegasus Partners Ltd. boosted its stake in PF in the latest quarter, The investment management firm added 2,445 additional shares and now holds a total of 18,315 shares of Pinnacle Foods Inc which is valued at $905,860. Pinnacle Foods Inc makes up approx 0.45% of Pegasus Partners Ltd.’s portfolio.Kornitzer Capital Management Inc Ks reduced its stake in PF by selling 400 shares or 4.88% in the most recent quarter. The Hedge Fund company now holds 7,800 shares of PF which is valued at $391,638. Pinnacle Foods Inc makes up approx 0.01% of Kornitzer Capital Management Inc Ks’s portfolio.Train Babcock Advisors reduced its stake in PF by selling 315 shares or 0.39% in the most recent quarter. The Hedge Fund company now holds 80,273 shares of PF which is valued at $3,926,955. Pinnacle Foods Inc makes up approx 1.50% of Train Babcock Advisors’s portfolio.

Pinnacle Foods Inc opened for trading at $49.72 and hit $50.02 on the upside on Wednesday, eventually ending the session at $49.87, with a gain of 0.71% or 0.35 points. The heightened volatility saw the trading volume jump to 14,68,306 shares. Company has a market cap of $5,883 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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