Mint Tower Capital Management B.V. Has $1.32 Million Stake in Pinnacle Foods Inc (PF)

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Mint Tower Capital Management B.V. boosted its stake in Pinnacle Foods Inc (NYSE:PF) by 308.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,402 shares of the company’s stock after buying an additional 15,402 shares during the quarter. Mint Tower Capital Management B.V.’s holdings in Pinnacle Foods were worth $1,322,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Pinnacle Foods by 0.5% in the 2nd quarter. BlackRock Inc. now owns 4,847,490 shares of the company’s stock worth $315,380,000 after purchasing an additional 23,096 shares in the last quarter. Levin Capital Strategies L.P. lifted its stake in Pinnacle Foods by 17.0% in the 2nd quarter. Levin Capital Strategies L.P. now owns 3,509,065 shares of the company’s stock worth $228,300,000 after purchasing an additional 509,511 shares in the last quarter. Alpine Associates Management Inc. lifted its stake in Pinnacle Foods by 1,924.2% in the 2nd quarter. Alpine Associates Management Inc. now owns 1,732,341 shares of the company’s stock worth $113,815,000 after purchasing an additional 1,646,761 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Pinnacle Foods by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,424,050 shares of the company’s stock worth $92,650,000 after purchasing an additional 16,783 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in Pinnacle Foods by 3.0% in the 2nd quarter. OppenheimerFunds Inc. now owns 1,331,881 shares of the company’s stock worth $86,652,000 after purchasing an additional 38,957 shares in the last quarter. 94.33% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently issued reports on PF shares. Buckingham Research raised their price target on shares of Pinnacle Foods from $62.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, July 20th. CL King downgraded shares of Pinnacle Foods from a “buy” rating to a “neutral” rating in a report on Thursday, August 2nd. JPMorgan Chase & Co. downgraded shares of Pinnacle Foods from an “overweight” rating to a “neutral” rating and set a $64.00 price target for the company. in a report on Friday, August 3rd. Piper Jaffray Companies downgraded shares of Pinnacle Foods from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $69.00 to $68.00 in a report on Monday, September 24th. Finally, Zacks Investment Research downgraded shares of Pinnacle Foods from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Thirteen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $67.20.

Pinnacle Foods stock opened at $102.71 on Friday. Pinnacle Foods Inc has a 12-month low of $52.25 and a 12-month high of $70.51.

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

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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.

Further Reading: When is a capital gain realized?

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

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