Bank of New York Mellon Corp Cuts Position in The Hain Celestial Group, Inc. (NASDAQ:HAIN)

Bank of New York Mellon Corp cut its stake in The Hain Celestial Group, Inc. (NASDAQ:HAIN) by 50.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 316,073 shares of the company’s stock after selling 320,614 shares during the quarter. Bank of New York Mellon Corp’s holdings in The Hain Celestial Group were worth $1,312,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in HAIN. Assenagon Asset Management S.A. grew its stake in The Hain Celestial Group by 89.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 567,234 shares of the company’s stock worth $2,354,000 after buying an additional 267,161 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in The Hain Celestial Group by 45.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,592 shares of the company’s stock worth $98,000 after buying an additional 7,389 shares during the last quarter. Wellington Management Group LLP purchased a new position in The Hain Celestial Group during the 4th quarter worth $14,322,000. JPMorgan Chase & Co. grew its stake in The Hain Celestial Group by 53.5% during the 4th quarter. JPMorgan Chase & Co. now owns 491,877 shares of the company’s stock worth $3,025,000 after buying an additional 171,420 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in The Hain Celestial Group by 16.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 84,143 shares of the company’s stock worth $349,000 after buying an additional 11,675 shares during the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on HAIN. Maxim Group lowered their target price on shares of The Hain Celestial Group from $10.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Barclays lowered their target price on shares of The Hain Celestial Group from $4.00 to $2.00 and set an “equal weight” rating for the company in a research note on Monday, May 12th. Mizuho lowered their target price on shares of The Hain Celestial Group from $3.00 to $2.50 and set a “neutral” rating for the company in a research note on Monday. CL King reiterated a “neutral” rating on shares of The Hain Celestial Group in a research note on Thursday, May 8th. Finally, Piper Sandler lowered their price target on The Hain Celestial Group from $2.00 to $1.80 and set a “neutral” rating for the company in a research report on Tuesday, June 3rd. Nine analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $3.59.

The Hain Celestial Group Stock Performance

Shares of HAIN opened at $1.60 on Thursday. The stock has a 50-day moving average of $1.71 and a two-hundred day moving average of $3.03. The Hain Celestial Group, Inc. has a one year low of $1.30 and a one year high of $9.43. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.99 and a current ratio of 1.81. The stock has a market cap of $144.40 million, a P/E ratio of -0.55 and a beta of 0.78.

The Hain Celestial Group (NASDAQ:HAIN) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.05). The company had revenue of $390.35 million during the quarter, compared to analyst estimates of $414.45 million. The Hain Celestial Group had a negative net margin of 16.17% and a positive return on equity of 2.47%. The business’s quarterly revenue was down 10.9% compared to the same quarter last year. During the same period last year, the firm earned $0.13 EPS. As a group, research analysts predict that The Hain Celestial Group, Inc. will post 0.4 EPS for the current year.

Insider Activity

In related news, Director Celeste A. Clark acquired 83,000 shares of the firm’s stock in a transaction dated Tuesday, May 13th. The stock was acquired at an average price of $1.79 per share, with a total value of $148,570.00. Following the acquisition, the director directly owned 83,000 shares in the company, valued at $148,570. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Neil Campbell acquired 25,640 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was bought at an average cost of $1.93 per share, with a total value of $49,485.20. Following the acquisition, the director owned 62,929 shares in the company, valued at approximately $121,452.97. This trade represents a 68.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 308,640 shares of company stock valued at $518,055 in the last quarter. 0.83% of the stock is currently owned by company insiders.

The Hain Celestial Group Profile

The Hain Celestial Group, Inc manufactures, markets, and sells organic and natural products in United States, United Kingdom, Europe, and internationally. It operates through two segments: North America and International. The company offers infant formula; infant, toddler, and kids' food; plant-based beverages and frozen desserts, such as soy, rice, oat, and spelt; and condiments.