Retirement Systems of Alabama trimmed its stake in shares of Treehouse Foods, Inc. (NYSE:THS) by 40.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 144,588 shares of the company’s stock after selling 99,516 shares during the quarter. Retirement Systems of Alabama owned approximately 0.25% of Treehouse Foods worth $9,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its position in shares of Treehouse Foods by 0.4% during the second quarter. BlackRock Inc. now owns 4,668,862 shares of the company’s stock worth $381,400,000 after acquiring an additional 16,592 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Treehouse Foods by 13.5% during the second quarter. Wells Fargo & Company MN now owns 4,576,600 shares of the company’s stock worth $373,861,000 after acquiring an additional 543,475 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Treehouse Foods by 1.2% during the second quarter. Vanguard Group Inc. now owns 4,574,766 shares of the company’s stock worth $373,713,000 after acquiring an additional 56,356 shares during the last quarter. FMR LLC raised its position in shares of Treehouse Foods by 2.3% during the second quarter. FMR LLC now owns 3,866,371 shares of the company’s stock worth $315,843,000 after acquiring an additional 87,098 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Treehouse Foods by 4.6% during the second quarter. JPMorgan Chase & Co. now owns 3,691,824 shares of the company’s stock worth $301,585,000 after acquiring an additional 161,421 shares during the last quarter.
In related news, CEO Sam K. Reed sold 11,480 shares of Treehouse Foods stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $67.58, for a total transaction of $775,818.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gary Dale Smith bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The shares were bought at an average cost of $42.64 per share, for a total transaction of $85,280.00. Following the transaction, the director now owns 271 shares of the company’s stock, valued at $11,555.44. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 34,440 shares of company stock worth $2,027,712. 3.50% of the stock is owned by insiders.
A number of equities analysts have recently issued reports on the company. Vertical Group upgraded Treehouse Foods from a “hold” rating to a “buy” rating in a research report on Thursday. J P Morgan Chase & Co lifted their target price on Treehouse Foods from $38.00 to $39.00 and gave the stock an “underweight” rating in a report on Wednesday. BMO Capital Markets downgraded Treehouse Foods from an “outperform” rating to a “market perform” rating and set a $48.00 target price for the company. in a report on Wednesday. Bank of America Corporation lowered their target price on Treehouse Foods from $55.00 to $47.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Wells Fargo & Company lowered their target price on Treehouse Foods from $43.00 to $41.00 and set a “market perform” rating for the company in a report on Tuesday. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. Treehouse Foods has a consensus rating of “Hold” and a consensus price target of $59.51.
Treehouse Foods, Inc. (NYSE:THS) opened at $43.66 on Friday. The stock has a market capitalization of $2,460.00, a P/E ratio of 14.33, a P/E/G ratio of 2.14 and a beta of 0.63. The company has a current ratio of 2.16, a quick ratio of 0.81 and a debt-to-equity ratio of 1.01. Treehouse Foods, Inc. has a 1 year low of $40.26 and a 1 year high of $90.42.
Treehouse Foods (NYSE:THS) last announced its earnings results on Thursday, November 2nd. The company reported $0.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.11). The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Treehouse Foods had a negative net margin of 4.06% and a positive return on equity of 6.61%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.70 EPS. research analysts forecast that Treehouse Foods, Inc. will post 2.72 EPS for the current year.
Treehouse Foods declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 2nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.
About Treehouse Foods
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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