Lorber David A adds Pinnacle Foods Inc (PF) to its portfolio

Pinnacle Foods Inc (PF) : Lorber David A added new position in Pinnacle Foods Inc during the most recent quarter end. The investment management firm now holds 6,760 shares of Pinnacle Foods Inc which is valued at $334,958 , the company said in a statement filed on Aug 15, 2016 with the SEC.Pinnacle Foods Inc makes up approximately 3.18% of Lorber David A’s portfolio.

Other Hedge Funds, Including , Foresters Investment Management Company boosted its stake in PF in the latest quarter, The investment management firm added 33,700 additional shares and now holds a total of 411,200 shares of Pinnacle Foods Inc which is valued at $20,374,960. Pinnacle Foods Inc makes up approx 0.40% of Foresters Investment Management Company’s portfolio.Raymond James Financial Services Advisors boosted its stake in PF in the latest quarter, The investment management firm added 2,680 additional shares and now holds a total of 15,293 shares of Pinnacle Foods Inc which is valued at $757,768. Pinnacle Foods Inc makes up approx 0.01% of Raymond James Financial Services Advisors’s portfolio.Martingale Asset Management L P boosted its stake in PF in the latest quarter, The investment management firm added 73,444 additional shares and now holds a total of 390,569 shares of Pinnacle Foods Inc which is valued at $19,352,694. Pinnacle Foods Inc makes up approx 0.31% of Martingale Asset Management L P’s portfolio.Rice Hall James Associates reduced its stake in PF by selling 738 shares or 1.44% in the most recent quarter. The Hedge Fund company now holds 50,415 shares of PF which is valued at $2,397,737. Pinnacle Foods Inc makes up approx 0.13% of Rice Hall James Associates’s portfolio.

Pinnacle Foods Inc opened for trading at $50.37 and hit $50.86 on the upside on Thursday, eventually ending the session at $50.75, with a gain of 0.20% or 0.1 points. The heightened volatility saw the trading volume jump to 10,00,943 shares. Company has a market cap of $5,987 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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