Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Ken Griffin’s Citadel Investment Group Ups Passive Stake in Hillshire Brands Co (HSH)

Citadel Investment Group, managed by Ken Griffin, has disclosed raising its stake in Hillshire Brands Co (NYSE:HSH). According to a new filing with the U.S. Securities and Exchange Commission, the fund owns 6.19 million shares of the company, up from 1.97 million disclosed as at the end of 2013. The new stake represents 5.0% of common stock outstanding, and is passive by nature.

CITADEL INVESTMENT GROUP

Hillshire Brands Co (NYSE:HSH) is engaged in manufacturing and distribution of food products and its portfolio includes brands such as Jimmy Dean, Ball Park, Hillshire Farm, State Fair, among others. Based in Chicago, the company generated about $4 billion in annual sales in fiscal 2013. The company’s market cap is $4.5 billion.

Recently, Hillshire Brands Co (NYSE:HSH) agreed to acquire all outstanding shares of Pinnacle Foods Inc. (NYSE: PF) in a cash and stock transaction valued at about $6.6 billion. Under the terms of the agreement, each share of Pinnacle Foods common stock will be exchanged for $18.00 in cash and 0.50 shares of Hillshire Brands common stock. The combined company will operate under the Hillshire Brands name and will be headquartered in Chicago, Ill. Sean Connolly, will serve as president and chief executive officer of the combined company, according to a statement.

Apart from Citadel Investment Group, Clint Carlson’s Carlson Capital owns some 1.53 million shares according to its latest 13F, decreasing the stake by almost 50% over the quarter. Another investor Mario Gabelli’s Gamco Investors disclosed holding 2.67million shares of the company.

Citadel Investment Group recently increased its positions in Synovus Financial Corp. (NYSE:SNV) and Burlington Stores Inc (NYSE:BURL). The fund upped its stake in Synovus Financial Corp. (NYSE:SNV) to 50.83 million shares, and boosted its position in Burlington Stores Inc (NYSE:BURL) to 5.31 million shares from 1.51 million shares.

Disclosure: none

Recommended Reading:

Hedge Fund Highlights: David Tepper, Barry Rosenstein & Crispin Odey

Hedge Fund News: Edward Lampert, James Dinan & Nouriel Roubini

Tiger Global Management Reveals New Passive Stake in Recently Public Tuniu Corp (TOUR)

Loading Comments...