Principal Financial Group Inc. Cuts Stock Holdings in The Hain Celestial Group, Inc. (NASDAQ:HAIN)

Principal Financial Group Inc. lessened its holdings in shares of The Hain Celestial Group, Inc. (NASDAQ:HAIN) by 4.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 423,505 shares of the company’s stock after selling 19,661 shares during the period. Principal Financial Group Inc. owned about 0.47% of The Hain Celestial Group worth $3,655,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HAIN. Vanguard Group Inc. lifted its position in The Hain Celestial Group by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 10,942,729 shares of the company’s stock valued at $86,010,000 after acquiring an additional 84,689 shares during the period. Barrow Hanley Mewhinney & Strauss LLC grew its stake in The Hain Celestial Group by 1.1% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,698,984 shares of the company’s stock valued at $39,380,000 after acquiring an additional 62,865 shares in the last quarter. PGGM Investments increased its holdings in shares of The Hain Celestial Group by 1.3% in the second quarter. PGGM Investments now owns 4,183,854 shares of the company’s stock worth $28,910,000 after purchasing an additional 51,912 shares during the last quarter. Millennium Management LLC grew its holdings in shares of The Hain Celestial Group by 171.3% in the second quarter. Millennium Management LLC now owns 2,634,718 shares of the company’s stock valued at $18,206,000 after purchasing an additional 1,663,542 shares in the last quarter. Finally, Invenomic Capital Management LP bought a new position in shares of The Hain Celestial Group in the 1st quarter valued at about $11,294,000. 97.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus increased their target price on shares of The Hain Celestial Group from $8.00 to $9.00 and gave the company a “hold” rating in a research note on Wednesday, August 28th. Barclays lowered their price target on shares of The Hain Celestial Group from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. DA Davidson reduced their target price on shares of The Hain Celestial Group from $9.00 to $8.00 and set a “neutral” rating for the company in a report on Tuesday, November 12th. Finally, Piper Sandler reiterated a “neutral” rating and set a $8.00 price objective on shares of The Hain Celestial Group in a report on Thursday, September 19th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $9.43.

The Hain Celestial Group Stock Up 8.5 %

HAIN stock opened at $8.05 on Friday. The firm’s fifty day simple moving average is $8.23 and its 200-day simple moving average is $7.61. The company has a market capitalization of $726.06 million, a P/E ratio of -8.56 and a beta of 0.74. The Hain Celestial Group, Inc. has a 12 month low of $5.68 and a 12 month high of $11.68. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.01 and a quick ratio of 1.05.

The Hain Celestial Group (NASDAQ:HAIN) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The Hain Celestial Group had a negative net margin of 4.94% and a positive return on equity of 3.13%. The firm had revenue of $394.60 million for the quarter, compared to analyst estimates of $394.24 million. During the same quarter in the prior year, the business posted ($0.04) EPS. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. As a group, equities research analysts forecast that The Hain Celestial Group, Inc. will post 0.47 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Chad D. Marquardt acquired 5,300 shares of The Hain Celestial Group stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost of $8.32 per share, with a total value of $44,096.00. Following the purchase, the insider now owns 15,300 shares in the company, valued at $127,296. This trade represents a 53.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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.