Channing Capital Management buys $27,930,819 stake in Pinnacle Foods Inc (PF)

Pinnacle Foods Inc (PF) : Channing Capital Management scooped up 59,345 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 1, 2016. The investment management firm now holds a total of 556,280 shares of Pinnacle Foods Inc which is valued at $27,930,819.Pinnacle Foods Inc makes up approximately 1.12% of Channing Capital Management’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System reduced its stake in PF by selling 3,100 shares or 1.22% in the most recent quarter. The Hedge Fund company now holds 251,449 shares of PF which is valued at $12,625,254. Pinnacle Foods Inc makes up approx 0.03% of California State Teachers Retirement System’s portfolio. Signaturefd sold out all of its stake in PF during the most recent quarter. The investment firm sold 72 shares of PF which is valued $3,615.Chase Investment Counsel Corp boosted its stake in PF in the latest quarter, The investment management firm added 1,825 additional shares and now holds a total of 22,300 shares of Pinnacle Foods Inc which is valued at $1,060,588. Pinnacle Foods Inc makes up approx 0.45% of Chase Investment Counsel Corp’s portfolio.Ibm Retirement Fund reduced its stake in PF by selling 63 shares or 0.54% in the most recent quarter. The Hedge Fund company now holds 11,671 shares of PF which is valued at $570,945. Pinnacle Foods Inc makes up approx 0.02% of Ibm Retirement Fund’s portfolio.Grassi Investment Management reduced its stake in PF by selling 11,194 shares or 6.58% in the most recent quarter. The Hedge Fund company now holds 158,928 shares of PF which is valued at $7,673,044. Pinnacle Foods Inc makes up approx 1.42% of Grassi Investment Management’s portfolio.

Pinnacle Foods Inc closed down -0.08 points or -0.16% at $50.13 with 9,48,153 shares getting traded on Thursday. Post opening the session at $50.27, the shares hit an intraday low of $49.87 and an intraday high of $50.499 and the price fluctuated in this range throughout the day.Shares ended Thursday 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.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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