Assenagon Asset Management S.A. bought a new position in The Hain Celestial Group, Inc. (NASDAQ:HAIN) during the second quarter, Holdings Channel reports. The fund bought 99,742 shares of the company’s stock, valued at approximately $3,872,000. Assenagon Asset Management S.A. owned about 0.10% of The Hain Celestial Group as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. IFP Advisors Inc boosted its stake in shares of The Hain Celestial Group by 50.6% in the first quarter. IFP Advisors Inc now owns 3,209 shares of the company’s stock worth $119,000 after buying an additional 1,078 shares during the last quarter. Invictus RG acquired a new stake in shares of The Hain Celestial Group during the first quarter worth $174,000. Creative Planning boosted its stake in shares of The Hain Celestial Group by 14.0% in the first quarter. Creative Planning now owns 4,852 shares of the company’s stock worth $180,000 after buying an additional 597 shares during the last quarter. FormulaFolio Investments LLC acquired a new stake in shares of The Hain Celestial Group during the first quarter worth $200,000. Finally, Tudor Investment Corp ET AL acquired a new stake in shares of The Hain Celestial Group during the first quarter worth $201,000. Hedge funds and other institutional investors own 86.71% of the company’s stock.
The Hain Celestial Group, Inc. (NASDAQ HAIN) traded up 2.056% during midday trading on Wednesday, reaching $40.955. 567,815 shares of the company’s stock were exchanged. The stock’s market cap is $4.25 billion. The Hain Celestial Group, Inc. has a 1-year low of $31.01 and a 1-year high of $56.99. The firm’s 50-day moving average is $36.15 and its 200 day moving average is $37.04.
The Hain Celestial Group (NASDAQ:HAIN) last released its quarterly earnings results on Thursday, June 22nd. The company reported $0.33 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by $0.19. The company had revenue of $706.56 million during the quarter, compared to analyst estimates of $721 million. The Hain Celestial Group had a negative net margin of 0.75% and a negative return on equity of 1.09%. Equities analysts anticipate that The Hain Celestial Group, Inc. will post $1.20 earnings per share for the current fiscal year.
The Hain Celestial Group declared that its Board of Directors has approved a stock buyback program on Thursday, June 22nd that allows the company to buyback $250.00 million in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
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A number of brokerages recently weighed in on HAIN. Susquehanna Bancshares Inc set a $45.00 target price on shares of The Hain Celestial Group and gave the stock a “buy” rating in a report on Saturday, May 13th. UBS AG restated a “sell” rating and set a $31.00 target price (down from $33.00) on shares of The Hain Celestial Group in a report on Sunday, June 25th. Wells Fargo & Company set a $42.00 target price on shares of The Hain Celestial Group and gave the stock a “hold” rating in a report on Saturday, July 1st. Vetr cut shares of The Hain Celestial Group from a “buy” rating to a “hold” rating and set a $39.79 target price for the company. in a report on Monday, July 10th. Finally, Citigroup Inc. restated a “buy” rating and set a $46.00 target price (down from $62.00) on shares of The Hain Celestial Group in a report on Monday, July 10th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $41.21.
About The Hain Celestial Group
The Hain Celestial Group, Inc is an organic and natural products company. The Company and its subsidiaries manufacture, market, distribute and sell organic and natural products under brand names which are sold as better-for-you products. The Company’s segments include United States, United Kingdom, Hain Pure Protein and Rest of World.
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