Treehouse Foods (THS) to Buyback $400.00 million in Shares

Treehouse Foods (NYSE:THS) declared that its Board of Directors has initiated a stock repurchase program, which permits the company to repurchase $400.00 million in outstanding shares on Thursday, November 2nd, EventVestor reports. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Treehouse Foods (NYSE:THS) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.11). The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.52 billion. Treehouse Foods had a positive return on equity of 6.54% and a negative net margin of 3.90%. The business’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 EPS.

Several research analysts recently issued reports on the company. Bank of America Corporation assumed coverage on Treehouse Foods in a research note on Tuesday, September 19th. They issued a “neutral” rating and a $68.00 price objective on the stock. Credit Suisse Group set a $68.00 price objective on Treehouse Foods and gave the stock a “neutral” rating in a research note on Tuesday. BMO Capital Markets reissued a “buy” rating and issued a $85.00 price objective on shares of Treehouse Foods in a research note on Thursday. Stephens cut Treehouse Foods from an “overweight” rating to an “equal weight” rating in a research note on Thursday. Finally, Stifel Nicolaus cut Treehouse Foods from a “buy” rating to a “hold” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $79.15.

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In related news, CEO Sam K. Reed sold 11,480 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $66.32, for a total transaction of $761,353.60. Following the completion of the transaction, the chief executive officer now owns 70,647 shares in the company, valued at $4,685,309.04. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.50% of the company’s stock.

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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