Treehouse Foods (THS) Coverage Initiated by Analysts at Wolfe Research
Research analysts at Wolfe Research started coverage on shares of Treehouse Foods (NYSE:THS) in a research report issued to clients and investors on Monday, The Fly reports. The brokerage set a “market perform” rating on the stock.
A number of other analysts have also recently weighed in on the company. Vertical Group upgraded Treehouse Foods from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th. J P Morgan Chase & Co increased their price target on Treehouse Foods from $38.00 to $39.00 and gave the stock an “underweight” rating in a research report on Wednesday, November 15th. BMO Capital Markets cut Treehouse Foods from an “outperform” rating to a “market perform” rating and set a $48.00 price target on the stock. in a research report on Wednesday, November 15th. Bank of America dropped their price target on Treehouse Foods from $55.00 to $47.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 14th. Finally, Wells Fargo & Company dropped their price target on Treehouse Foods from $43.00 to $41.00 and set a “market perform” rating on the stock in a research report on Tuesday, November 14th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $59.51.
Shares of Treehouse Foods (NYSE:THS) traded up $0.05 during midday trading on Monday, reaching $46.07. The company’s stock had a trading volume of 1,124,400 shares, compared to its average volume of 787,700. Treehouse Foods has a 12-month low of $40.26 and a 12-month high of $90.42. The firm has a market capitalization of $2,635.90, a PE ratio of 15.72, a P/E/G ratio of 2.56 and a beta of 0.49. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.16 and a quick ratio of 0.81.
Treehouse Foods announced that its board has approved a stock repurchase plan on Thursday, November 2nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
In other news, Director Gary Dale Smith purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was purchased at an average cost of $42.64 per share, with a total value of $85,280.00. Following the purchase, the director now owns 271 shares in the company, valued at approximately $11,555.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sam K. Reed sold 11,480 shares of the stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $42.73, for a total value of $490,540.40. Following the transaction, the chief executive officer now directly owns 80,747 shares of the company’s stock, valued at $3,450,319.31. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,440 shares of company stock worth $2,027,712. 3.50% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of THS. BlackRock Inc. boosted its stake in Treehouse Foods by 9,591.4% during the 1st quarter. BlackRock Inc. now owns 4,652,270 shares of the company’s stock valued at $393,860,000 after purchasing an additional 4,604,266 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Treehouse Foods by 616.9% during the 3rd quarter. Victory Capital Management Inc. now owns 3,273,871 shares of the company’s stock valued at $221,740,000 after purchasing an additional 2,817,230 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Treehouse Foods by 101.1% during the 3rd quarter. Wells Fargo & Company MN now owns 4,172,507 shares of the company’s stock valued at $363,800,000 after purchasing an additional 2,097,880 shares in the last quarter. Iridian Asset Management LLC CT boosted its stake in Treehouse Foods by 12,604.6% during the 2nd quarter. Iridian Asset Management LLC CT now owns 1,798,976 shares of the company’s stock valued at $146,958,000 after purchasing an additional 1,784,816 shares in the last quarter. Finally, Wedgewood Partners Inc. bought a new position in Treehouse Foods during the 3rd quarter valued at $151,701,000.
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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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