Here Is What Hedge Funds Think About Pinnacle Foods Inc (PF)

As one would reasonably expect, key money managers have jumped into Pinnacle Foods Inc (NYSE:PF) headfirst. Iridian Asset Management initiated the most valuable position in Pinnacle Foods Inc (NYSE:PF) and was followed by Principal Global Investors’s Columbus Circle Investors, which also made a $29.4 million investment in the stock during the quarter. The other funds with new positions in the stock are Josh Resnick’s Jericho Capital Asset Management, Michael Platt and William Reeves’s BlueCrest Capital Mgmt., and Solomon Kumin’s Folger Hill Asset Management.

Let’s now review hedge fund activity in other stocks similar to Pinnacle Foods Inc (NYSE:PF). These stocks are Carter’s, Inc. (NYSE:CRI), Six Flags Entertainment Corp (NYSE:SIX), Servicemaster Global Holdings Inc (NYSE:SERV), and Copart, Inc. (NASDAQ:CPRT). All of these stocks’ market caps match PF’s market cap.

As you can see these stocks had an average of 33 funds with bullish positions and the average amount invested in these stocks was $933 million. That figure was $1.45 billion in PF’s case. Servicemaster Global Holdings Inc (NYSE:SERV) is the most popular stock in this table. On the other hand Six Flags Entertainment Corp (NYSE:SIX) is the least popular one with only 28 investors long its stock. Compared to these stocks Pinnacle Foods Inc (NYSE:PF) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.