North Star Asset Management Inc. trimmed its holdings in shares of Treehouse Foods, Inc. (NYSE:THS) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,021 shares of the company’s stock after selling 1,508 shares during the quarter. North Star Asset Management Inc. owned 0.15% of Treehouse Foods worth $7,029,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of THS. BlackRock Inc. raised its holdings in shares of Treehouse Foods by 0.4% in the second quarter. BlackRock Inc. now owns 4,668,862 shares of the company’s stock worth $381,400,000 after buying an additional 16,592 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Treehouse Foods by 13.5% in the second quarter. Wells Fargo & Company MN now owns 4,576,600 shares of the company’s stock valued at $373,861,000 after purchasing an additional 543,475 shares during the period. Vanguard Group Inc. grew its position in shares of Treehouse Foods by 1.2% in the second quarter. Vanguard Group Inc. now owns 4,574,766 shares of the company’s stock valued at $373,713,000 after purchasing an additional 56,356 shares during the period. FMR LLC grew its position in shares of Treehouse Foods by 2.3% in the second quarter. FMR LLC now owns 3,866,371 shares of the company’s stock valued at $315,843,000 after purchasing an additional 87,098 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Treehouse Foods by 4.6% in the second quarter. JPMorgan Chase & Co. now owns 3,691,824 shares of the company’s stock worth $301,585,000 after buying an additional 161,421 shares in the last quarter.
Shares of Treehouse Foods, Inc. (NYSE:THS) traded up $0.50 during midday trading on Friday, hitting $43.08. 1,100,700 shares of the company were exchanged, compared to its average volume of 769,994. Treehouse Foods, Inc. has a fifty-two week low of $40.26 and a fifty-two week high of $90.42. The company has a current ratio of 2.16, a quick ratio of 0.81 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $2,436.22, a PE ratio of 14.53, a P/E/G ratio of 1.99 and a beta of 0.63.
Treehouse Foods (NYSE:THS) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.78 by ($0.11). Treehouse Foods had a positive return on equity of 6.61% and a negative net margin of 4.06%. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. During the same period in the prior year, the business posted $0.70 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. analysts expect that Treehouse Foods, Inc. will post 2.72 EPS for the current year.
Treehouse Foods announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 2nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
A number of equities analysts have commented on THS shares. Zacks Investment Research downgraded shares of Treehouse Foods from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Jefferies Group LLC lowered their price target on shares of Treehouse Foods from $90.00 to $68.00 and set a “buy” rating for the company in a report on Monday, November 6th. Citigroup Inc. lowered their target price on shares of Treehouse Foods from $90.00 to $62.00 and set a “buy” rating for the company in a report on Friday, November 3rd. UBS AG cut their price objective on shares of Treehouse Foods from $70.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, November 3rd. Finally, BMO Capital Markets cut their price objective on shares of Treehouse Foods to $50.00 and set an “outperform” rating for the company in a research report on Friday, November 3rd. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $62.89.
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In related news, Director Gary Dale Smith bought 2,000 shares of Treehouse Foods stock in a transaction that occurred on Tuesday, November 7th. The stock was purchased at an average cost of $42.64 per share, for a total transaction of $85,280.00. Following the acquisition, the director now owns 271 shares in the company, valued at $11,555.44. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sam K. Reed sold 11,480 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $66.32, for a total value of $761,353.60. Following the transaction, the chief executive officer now owns 70,647 shares of the company’s stock, valued at $4,685,309.04. The disclosure for this sale can be found here. In the last three months, insiders sold 34,440 shares of company stock valued at $2,027,712. 3.50% of the stock is currently owned by company insiders.
Treehouse Foods Profile
TreeHouse Foods, Inc is a consumer packaged food and beverage manufacturer. The Company’s segments include North American Retail Grocery, Food Away From Home, and Industrial and Export. The Company manufactures a range of shelf stable, refrigerated, fresh and frozen products. Its product categories include beverages, salad dressings, snack nuts, beverage enhancers, pickles, sauces, cereals, pasta and dry dinners, cookies and crackers, retail bakery, aseptic products, jams and other products.
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