Key Takeaways: TreeHouse Foods (THS), Pilgrim’s Pride (PPC), KCAP Financial (KCAP)

Albany, New York (10/07/2014) – An insider at TreeHouse Foods Inc. (NYSE:THS) recently reduced exposure to the company’s equity. CEO, Sam K. Reed, sold 30,000 shares on the open market at $80.11 per share and generated $2,403,300 from the deal, according to SEC filing. The transaction occurred at a time when shares of THS are up more than 20% year-to-date. THS posted earnings of $0.84 per share in the most recent quarter. Its earnings in the quarter surpassed the consensus estimate of $0.83. The $3.52 billion food company generated revenue of $628 million in the quarter, up 19.3% YoY and ahead of the consensus estimate of $615.64 million. Analysts at SunTrust recently weighed in on the stock of TreeHouse Foods Inc. (NYSE:THS), giving it a “buy” rating, up from “neutral”. The analysts cited that THS was well-situated to outpace competition in its industry.

Pilgrim’s Pride Corporation (NASDAQ:PPC) was initiated as “neutral” at Goldman Sachs Group Inc (NYSE:GS). The firm set a price target of $33 on the stock of the $8.25 billion chicken producer. PPC was also upgraded to “outperform” from “neutral” at Zacks. They set $32.60 target price on the stock. Wall Street has a consensus “hold” rating and average target price of $24.90 on Pilgrim’s Pride Corporation (NASDAQ:PPC). The company earned $0.73 per share in the most recent quarter, smoking the consensus estimate of $0.62 per share. It generated $2.19 billion for the quarter, against the consensus estimate of $2.20 billion.

KCAP Financial Inc (NASDAQ:KCAP) has announced secondary offering of its common stock shares. It said it was offering 3 million of its common stock while granting the underwriter the latitude to acquire 450,000 more shares. KCAP further said it was performing the fundraiser to finance its general corporate purposes. It tapped JMP Securities LLC to serve as acting book-running manager in the secondary offering. KCAP Financial Inc (NASDAQ:KCAP) reported EPS of $0.24, against the consensus estimate of $0.25 in the most recent quarter. The company recently declared a quarterly dividend of $0.25 per share, which will be paid on October 29.

About the Author

Adam is a staff reporter for US Markets Daily Publications & Media, covering foreign affairs and domestic policy.

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