Jana Partners Management, LP, a significant shareholder in TreeHouse Foods, Inc. (NYSE: THS), executed a block sale of common stock on February 10, 2026, disposing of 1,959,221 shares for aggregate proceeds of approximately $47.9 million. The shares were sold at a weighted average price of $24.48, with individual trade prices reported in the range of $24.44 to $24.52.
Following the transaction, Jana Partners retains 3,862,116 shares of TreeHouse Foods common stock.
Derivative settlements
In addition to the outright sale of shares, Jana Partners settled certain derivative agreements identified as Notional Derivative Agreements - obligations to buy. Those settlements occurred on February 6 and February 9, 2026, and related to cash-settled swaps that carried initial reference termination dates of April 6, 2026, and September 22, 2026.
Recent operating results
TreeHouse Foods reported third-quarter fiscal 2025 results that fell short of consensus estimates on both the earnings and revenue lines. The company posted earnings per share of $0.43, below the expected $0.57. Revenue for the quarter was $840.3 million, missing the projected $851.99 million.
Despite the company’s misses on EPS and revenue, the market responded with a notable share-price uptick following the earnings release, reflecting investor interest in the company’s outlook. As of this report, analysts had not yet issued public revisions to ratings or price targets in response to the quarter.
Context and takeaway
The combination of a large institutional sale, the settlement of cash-settled swap positions, and an earnings report that missed expectations provides multiple data points for market participants evaluating TreeHouse Foods’ near-term trajectory. Jana Partners’ retained stake and the completed derivative settlements are part of the record of changes in the firm’s exposure to TreeHouse Foods’ equity ahead of the referenced derivative termination dates.
All transaction dates, quantities, prices, and financial results cited above are as reported.