Grassi Investment Management Lowers stake in Pinnacle Foods Inc (PF)

Pinnacle Foods Inc (PF) : Grassi Investment Management reduced its stake in Pinnacle Foods Inc by 1.13% during the most recent quarter end. The investment management company now holds a total of 157,130 shares of Pinnacle Foods Inc which is valued at $7,798,362 after selling 1,798 shares in Pinnacle Foods Inc , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Pinnacle Foods Inc makes up approximately 1.50% of Grassi Investment Management’s portfolio.

Other Hedge Funds, Including , Eagle Asset Management Inc boosted its stake in PF in the latest quarter, The investment management firm added 7,131 additional shares and now holds a total of 581,276 shares of Pinnacle Foods Inc which is valued at $28,848,728. Pinnacle Foods Inc makes up approx 0.20% of Eagle Asset Management Inc’s portfolio.Cutler Group Lp boosted its stake in PF in the latest quarter, The investment management firm added 3,431 additional shares and now holds a total of 5,433 shares of Pinnacle Foods Inc which is valued at $273,932. Pinnacle Foods Inc makes up approx 0.02% of Cutler Group Lp’s portfolio. Simplex Trading sold out all of its stake in PF during the most recent quarter. The investment firm sold 9,776 shares of PF which is valued $490,951.Bnp Paribas Arbitrage Sa boosted its stake in PF in the latest quarter, The investment management firm added 24,955 additional shares and now holds a total of 49,993 shares of Pinnacle Foods Inc which is valued at $2,485,152. Pinnacle Foods Inc makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio. Washington Trust Bank added PF to its portfolio by purchasing 29 company shares during the most recent quarter which is valued at $1,442.

Pinnacle Foods Inc closed down -0.79 points or -1.57% at $49.63 with 7,99,124 shares getting traded on Tuesday. Post opening the session at $50.23, the shares hit an intraday low of $49.32 and an intraday high of $50.3 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

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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