Other analysts also recently issued reports about the company. Jefferies Group lowered their target price on TreeHouse Foods from $90.00 to $68.00 and set a buy rating for the company in a research note on Monday, November 6th. Citigroup lowered their target price on TreeHouse Foods from $90.00 to $62.00 and set a buy rating for the company in a research note on Friday, November 3rd. BMO Capital Markets restated a buy rating and set a $85.00 target price on shares of TreeHouse Foods in a research note on Thursday, November 2nd. Vertical Group upgraded TreeHouse Foods from a hold rating to a buy rating in a research note on Thursday, November 16th. Finally, Zacks Investment Research upgraded TreeHouse Foods from a hold rating to a buy rating and set a $53.00 target price for the company in a research note on Wednesday, January 31st. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $53.51.
Shares of TreeHouse Foods (THS) opened at $40.38 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.94 and a current ratio of 2.48. The firm has a market capitalization of $2,162.82, a PE ratio of -8.06, a PEG ratio of 2.75 and a beta of 0.42. TreeHouse Foods has a 52 week low of $36.35 and a 52 week high of $90.42.
TreeHouse Foods declared that its board has approved a share buyback program on Thursday, November 2nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
In related news, CEO Sam K. Reed sold 11,480 shares of TreeHouse Foods stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $42.44, for a total value of $487,211.20. Following the completion of the transaction, the chief executive officer now directly owns 81,147 shares in the company, valued at $3,443,878.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas Emmet Oneill III sold 2,000 shares of TreeHouse Foods stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $45.32, for a total value of $90,640.00. Following the completion of the transaction, the vice president now owns 135,019 shares of the company’s stock, valued at $6,119,061.08. The disclosure for this sale can be found here. Insiders sold 36,440 shares of company stock valued at $1,680,850 over the last quarter. Insiders own 3.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN boosted its stake in TreeHouse Foods by 12.2% in the third quarter. Wells Fargo & Company MN now owns 5,133,963 shares of the company’s stock valued at $347,723,000 after acquiring an additional 557,363 shares during the period. BlackRock Inc. boosted its stake in TreeHouse Foods by 1.7% in the fourth quarter. BlackRock Inc. now owns 4,549,595 shares of the company’s stock valued at $225,024,000 after acquiring an additional 76,696 shares during the period. Levin Capital Strategies L.P. boosted its stake in TreeHouse Foods by 69.0% in the fourth quarter. Levin Capital Strategies L.P. now owns 3,592,216 shares of the company’s stock valued at $177,671,000 after acquiring an additional 1,466,030 shares during the period. Victory Capital Management Inc. boosted its stake in TreeHouse Foods by 616.9% in the third quarter. Victory Capital Management Inc. now owns 3,273,871 shares of the company’s stock valued at $221,740,000 after acquiring an additional 2,817,230 shares during the period. Finally, Champlain Investment Partners LLC boosted its stake in TreeHouse Foods by 6.2% in the fourth quarter. Champlain Investment Partners LLC now owns 3,135,190 shares of the company’s stock valued at $155,066,000 after acquiring an additional 182,965 shares during the period.
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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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