Treehouse Foods, Inc. (THS) Lowered to Hold at Stifel Nicolaus
Treehouse Foods, Inc. (NYSE:THS) was downgraded by research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report released on Thursday, The Fly reports.
Several other equities research analysts have also issued reports on THS. BMO Capital Markets reaffirmed a “buy” rating on shares of Treehouse Foods in a research note on Tuesday, July 18th. Zacks Investment Research lowered shares of Treehouse Foods from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. J P Morgan Chase & Co lowered shares of Treehouse Foods from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $90.00 to $76.00 in a research note on Friday, August 4th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and issued a $78.00 price objective (down previously from $108.00) on shares of Treehouse Foods in a research note on Friday, August 4th. Finally, UBS AG lowered shares of Treehouse Foods from a “positive” rating to a “neutral” rating in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company. Treehouse Foods currently has an average rating of “Hold” and an average price target of $79.15.
Treehouse Foods (NYSE:THS) last issued its earnings results on Wednesday, November 1st. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.11). The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. Treehouse Foods had a negative net margin of 3.90% and a positive return on equity of 6.54%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the business earned $0.70 EPS.
Treehouse Foods declared that its Board of Directors has approved a stock repurchase program on Thursday, November 2nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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In related news, CEO Sam K. Reed sold 11,480 shares of Treehouse Foods stock in a transaction on Thursday, September 7th. The shares were 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 in the company, valued at approximately $4,685,309.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.50% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in THS. Teachers Advisors LLC raised its holdings in Treehouse Foods by 8.6% in the 1st quarter. Teachers Advisors LLC now owns 60,506 shares of the company’s stock worth $5,122,000 after acquiring an additional 4,782 shares during the period. Thrivent Financial For Lutherans raised its holdings in Treehouse Foods by 11.8% in the 1st quarter. Thrivent Financial For Lutherans now owns 10,820 shares of the company’s stock worth $916,000 after acquiring an additional 1,140 shares during the period. Dimensional Fund Advisors LP raised its holdings in Treehouse Foods by 7.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 766,183 shares of the company’s stock worth $64,865,000 after acquiring an additional 53,610 shares during the period. Morgan Stanley raised its holdings in Treehouse Foods by 18.9% in the 1st quarter. Morgan Stanley now owns 143,613 shares of the company’s stock worth $12,158,000 after acquiring an additional 22,870 shares during the period. Finally, Renaissance Technologies LLC bought a new position in Treehouse Foods in the 1st quarter worth $10,244,000.
Treehouse Foods Company 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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