Pinnacle Foods Inc (PF) Stake Lowered by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA decreased its stake in Pinnacle Foods Inc (NYSE:PF) by 99.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,616 shares of the company’s stock after selling 1,005,382 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Pinnacle Foods were worth $624,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Pinnacle Foods by 0.5% in the second quarter. BlackRock Inc. now owns 4,847,490 shares of the company’s stock valued at $315,380,000 after purchasing an additional 23,096 shares during the period. Levin Capital Strategies L.P. lifted its stake in shares of Pinnacle Foods by 17.0% in the second quarter. Levin Capital Strategies L.P. now owns 3,509,065 shares of the company’s stock valued at $228,300,000 after purchasing an additional 509,511 shares during the period. Alpine Associates Management Inc. lifted its stake in shares of Pinnacle Foods by 1,924.2% in the second quarter. Alpine Associates Management Inc. now owns 1,732,341 shares of the company’s stock valued at $113,815,000 after purchasing an additional 1,646,761 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Pinnacle Foods by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,424,050 shares of the company’s stock valued at $92,650,000 after purchasing an additional 16,783 shares during the period. Finally, OppenheimerFunds Inc. lifted its stake in shares of Pinnacle Foods by 3.0% in the second quarter. OppenheimerFunds Inc. now owns 1,331,881 shares of the company’s stock valued at $86,652,000 after purchasing an additional 38,957 shares during the period. Hedge funds and other institutional investors own 94.33% of the company’s stock.

NYSE:PF opened at $102.71 on Friday. Pinnacle Foods Inc has a twelve month low of $52.25 and a twelve month high of $70.51.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Tuesday, September 4th were issued a dividend of $0.325 per share. The ex-dividend date of this dividend was Friday, August 31st. This represents a $1.30 annualized dividend and a yield of 1.27%.

Several analysts recently commented on PF shares. Zacks Investment Research cut shares of Pinnacle Foods from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Jefferies Financial Group cut shares of Pinnacle Foods from a “buy” rating to a “hold” rating and set a $68.00 price objective for the company. in a research note on Monday, October 15th. CL King cut shares of Pinnacle Foods from a “buy” rating to a “neutral” rating in a research note on Thursday, August 2nd. ValuEngine upgraded shares of Pinnacle Foods from a “hold” rating to a “buy” rating in a research note on Monday, October 8th. Finally, JPMorgan Chase & Co. cut shares of Pinnacle Foods from an “overweight” rating to a “neutral” rating and set a $64.00 price objective for the company. in a research note on Friday, August 3rd. Thirteen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $67.20.

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Pinnacle Foods Profile

Pinnacle Foods Inc manufactures, markets, and distributes branded convenience food products in North America. It operates through four segments: Frozen, Grocery, Boulder, and Specialty. The Frozen segment offers frozen vegetables, frozen complete bagged meals, frozen prepared seafood, frozen and refrigerated bagels, frozen pizza, and full-calorie single-serve frozen dinners and entrées under the Birds Eye, Birds Eye Voila!, Van de Kamp's, Mrs.

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Institutional Ownership by Quarter for Pinnacle Foods (NYSE:PF)

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