Treehouse Foods, Inc. (THS) Given New $50.00 Price Target at BMO Capital Markets
Treehouse Foods, Inc. (NYSE:THS) had its price objective reduced by equities researchers at BMO Capital Markets to $50.00 in a research report issued to clients and investors on Friday, The Fly reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 16.20% from the stock’s previous close.
Several other equities analysts have also recently weighed in on THS. Zacks Investment Research cut Treehouse Foods from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. J P Morgan Chase & Co cut Treehouse Foods from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $90.00 to $76.00 in a research report on Friday, August 4th. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $78.00 price objective (down previously from $108.00) on shares of Treehouse Foods in a research report on Friday, August 4th. UBS AG cut Treehouse Foods from a “positive” rating to a “neutral” rating in a research report on Friday, August 4th. Finally, Vertical Research cut Treehouse Foods from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $71.51.
Treehouse Foods (NYSE:THS) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.11). Treehouse Foods had a positive return on equity of 6.54% and a negative net margin of 3.90%. The business had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the firm posted $0.70 EPS. Treehouse Foods’s revenue for the quarter was down 2.4% on a year-over-year basis.
Treehouse Foods declared that its Board of Directors has initiated a share buyback program on Thursday, November 2nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
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In other news, CEO Sam K. Reed sold 11,480 shares of the 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 completion of the transaction, the chief executive officer now directly owns 70,647 shares of the company’s stock, valued at approximately $4,685,309.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.50% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Citigroup Inc. raised its holdings in shares of Treehouse Foods by 120.6% in the 2nd quarter. Citigroup Inc. now owns 1,286 shares of the company’s stock worth $105,000 after buying an additional 703 shares in the last quarter. Creative Planning raised its holdings in shares of Treehouse Foods by 28.8% in the 2nd quarter. Creative Planning now owns 1,379 shares of the company’s stock worth $113,000 after buying an additional 308 shares in the last quarter. Parallax Volatility Advisers L.P. raised its holdings in shares of Treehouse Foods by 30.9% in the 2nd quarter. Parallax Volatility Advisers L.P. now owns 1,874 shares of the company’s stock worth $153,000 after buying an additional 442 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Treehouse Foods by 11.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,982 shares of the company’s stock worth $162,000 after buying an additional 199 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of Treehouse Foods by 6.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,259 shares of the company’s stock worth $184,000 after buying an additional 141 shares in the last quarter.
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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