NorthCoast Asset Management LLC Acquires Shares of 395,886 Herbalife Nutrition Ltd (HLF)

NorthCoast Asset Management LLC acquired a new position in shares of Herbalife Nutrition Ltd (NYSE:HLF) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 395,886 shares of the company’s stock, valued at approximately $21,267,000. Herbalife Nutrition accounts for about 2.0% of NorthCoast Asset Management LLC’s holdings, making the stock its 21st biggest position.

Other hedge funds have also recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its holdings in shares of Herbalife Nutrition by 124.4% during the first quarter. BNP Paribas Arbitrage SA now owns 1,462 shares of the company’s stock worth $143,000 after purchasing an additional 7,461 shares during the last quarter. Point72 Hong Kong Ltd grew its holdings in shares of Herbalife Nutrition by 1,979.1% during the second quarter. Point72 Hong Kong Ltd now owns 2,890 shares of the company’s stock worth $155,000 after purchasing an additional 2,751 shares during the last quarter. Whittier Trust Co. grew its holdings in shares of Herbalife Nutrition by 100.0% during the second quarter. Whittier Trust Co. now owns 2,900 shares of the company’s stock worth $156,000 after purchasing an additional 1,450 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Herbalife Nutrition by 115.1% during the second quarter. PNC Financial Services Group Inc. now owns 3,259 shares of the company’s stock worth $176,000 after purchasing an additional 1,744 shares during the last quarter. Finally, Park Avenue Securities LLC purchased a new position in shares of Herbalife Nutrition during the second quarter worth about $211,000. 88.13% of the stock is currently owned by institutional investors.

NYSE HLF opened at $55.62 on Monday. The company has a debt-to-equity ratio of -1.87, a quick ratio of 0.71 and a current ratio of 0.91. Herbalife Nutrition Ltd has a 52-week low of $32.13 and a 52-week high of $60.41. The stock has a market cap of $8.79 billion, a P/E ratio of 22.89 and a beta of 0.71.

Herbalife Nutrition (NYSE:HLF) last released its quarterly earnings results on Wednesday, August 1st. The company reported $0.80 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.12. Herbalife Nutrition had a negative return on equity of 140.85% and a net margin of 3.61%. The firm had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter last year, the company posted $1.51 earnings per share. The business’s revenue was up 13.3% on a year-over-year basis. analysts predict that Herbalife Nutrition Ltd will post 2.75 earnings per share for the current fiscal year.

In related news, EVP Alan L. Hoffman sold 55,576 shares of the firm’s stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $57.50, for a total transaction of $3,195,620.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeff Dunn sold 17,440 shares of the firm’s stock in a transaction dated Friday, August 3rd. The stock was sold at an average price of $58.53, for a total value of $1,020,763.20. The disclosure for this sale can be found here. Company insiders own 6.19% of the company’s stock.

Several brokerages have issued reports on HLF. Zacks Investment Research raised Herbalife Nutrition from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Friday, August 3rd. Pivotal Research reissued a “buy” rating and set a $75.00 price target on shares of Herbalife Nutrition in a report on Thursday, August 2nd. Finally, ValuEngine raised Herbalife Nutrition from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $61.30.

Herbalife Nutrition Profile

Herbalife Nutrition Ltd. develops and sells nutrition solutions in North America, Mexico, South and Central America, Europe, the Middle East, Africa, and the Asia Pacific. It provides science-based products in the areas of weight management; targeted nutrition; energy, sports, and fitness; and outer nutrition.

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Institutional Ownership by Quarter for Herbalife Nutrition (NYSE:HLF)

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