Neuberger Berman Group LLC raised its stake in Treehouse Foods, Inc. (NYSE:THS) by 130.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 706,996 shares of the company’s stock after buying an additional 399,825 shares during the period. Neuberger Berman Group LLC owned about 1.24% of Treehouse Foods worth $47,885,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of THS. Citigroup Inc. boosted its stake in shares of Treehouse Foods by 120.6% in the 2nd quarter. Citigroup Inc. now owns 1,286 shares of the company’s stock valued at $105,000 after purchasing an additional 703 shares in the last quarter. Parallax Volatility Advisers L.P. boosted its stake 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 valued at $153,000 after purchasing an additional 442 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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 valued at $162,000 after purchasing an additional 199 shares in the last quarter. ZWJ Investment Counsel Inc. purchased a new stake in shares of Treehouse Foods in the 3rd quarter valued at $212,000. Finally, Zions Bancorporation purchased a new stake in shares of Treehouse Foods in the 3rd quarter valued at $212,000.
In other news, CEO Sam K. Reed sold 11,480 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $42.73, for a total value of $490,540.40. Following the completion of the sale, the chief executive officer now directly owns 80,747 shares of the company’s stock, valued at approximately $3,450,319.31. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Gary Dale Smith bought 2,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was bought at an average cost of $42.64 per share, with a total value of $85,280.00. Following the completion of the transaction, the director now owns 271 shares in the company, valued at approximately $11,555.44. The disclosure for this purchase can be found here. Insiders have sold a total of 36,440 shares of company stock valued at $1,889,212 in the last three months. 3.50% of the stock is currently owned by corporate insiders.
Treehouse Foods (NYSE:THS) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.78 by ($0.11). The firm had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.52 billion. Treehouse Foods had a negative net margin of 4.06% and a positive return on equity of 6.61%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.70 EPS. equities research analysts expect that Treehouse Foods, Inc. will post 2.72 earnings per share for the current fiscal year.
Treehouse Foods announced that its board has approved a stock 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 generally an indication that the company’s management believes its stock is undervalued.
A number of brokerages have recently issued reports on THS. Bank of America began coverage on shares of Treehouse Foods in a research note on Tuesday, September 19th. They issued a “neutral” rating and a $68.00 price objective for the company. Credit Suisse Group set a $68.00 price objective on shares of Treehouse Foods and gave the company a “neutral” rating in a research note on Tuesday, October 31st. Jefferies Group reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Treehouse Foods in a research note on Tuesday, September 26th. BMO Capital Markets cut their price objective on shares of Treehouse Foods to $50.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Finally, J P Morgan Chase & Co set a $39.00 price objective on shares of Treehouse Foods and gave the company a “sell” rating in a research note on Wednesday, December 13th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $59.51.
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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