Bank of Nova Scotia Acquires Shares of 305,400 The Hain Celestial Group, Inc. (HAIN)

Bank of Nova Scotia acquired a new position in shares of The Hain Celestial Group, Inc. (NASDAQ:HAIN) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 305,400 shares of the company’s stock, valued at approximately $11,855,000. Bank of Nova Scotia owned about 0.29% of The Hain Celestial Group at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Highlander Capital Management LLC acquired a new stake in The Hain Celestial Group during the second quarter worth about $422,000. The Manufacturers Life Insurance Company increased its position in The Hain Celestial Group by 34.4% during the second quarter. The Manufacturers Life Insurance Company now owns 200,848 shares of the company’s stock worth $7,797,000 after purchasing an additional 51,429 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in The Hain Celestial Group during the second quarter worth about $360,000. Black Creek Investment Management Inc. acquired a new stake in The Hain Celestial Group during the second quarter worth about $30,283,000. Finally, Miles Capital Inc. acquired a new stake in The Hain Celestial Group during the second quarter worth about $201,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Several research firms recently issued reports on HAIN. Wells Fargo & Company set a $42.00 price objective on shares of The Hain Celestial Group and gave the stock a “hold” rating in a research report on Saturday, July 1st. UBS AG restated a “sell” rating and set a $31.00 price objective (down from $33.00) on shares of The Hain Celestial Group in a research report on Sunday, June 25th. Maxim Group upgraded shares of The Hain Celestial Group from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Thursday, July 13th. J P Morgan Chase & Co cut shares of The Hain Celestial Group from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $43.00 to $35.00 in a research report on Friday, June 23rd. Finally, BidaskClub cut shares of The Hain Celestial Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $41.78.

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Shares of The Hain Celestial Group, Inc. (HAIN) traded down 0.33% on Friday, hitting $41.83. 66,933 shares of the company were exchanged. The firm has a market cap of $4.34 billion, a P/E ratio of 64.35 and a beta of 1.28. The Hain Celestial Group, Inc. has a 52-week low of $31.01 and a 52-week high of $45.61. The company has a 50-day moving average price of $40.66 and a 200 day moving average price of $38.86.

The Hain Celestial Group (NASDAQ:HAIN) last issued its quarterly earnings data on Tuesday, August 29th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.03. The Hain Celestial Group had a net margin of 2.36% and a return on equity of 7.65%. The company had revenue of $725.10 million during the quarter, compared to the consensus estimate of $720.70 million. During the same quarter last year, the company earned $0.43 earnings per share. The Hain Celestial Group’s revenue for the quarter was down 1.7% on a year-over-year basis. Analysts predict that The Hain Celestial Group, Inc. will post $1.66 EPS for the current fiscal year.

The Hain Celestial Group announced that its board has authorized a share repurchase program on Thursday, June 22nd that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

The Hain Celestial Group Company Profile

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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Institutional Ownership by Quarter for The Hain Celestial Group (NASDAQ:HAIN)

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