Should You Sell The Hain Celestial Group (HAIN) Stock?

ClearBridge Investments, an investment management company, released its “ClearBridge Sustainability Leaders Strategy” third 2022 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark in the third quarter, the Russell 3000 Index. Only the industrial sector contributed positively to the strategy’s absolute performance among the ten sectors the strategy invested in. The significant performance detractors were materials, consumer discretionary, and real estate sectors. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Investments highlighted stocks like The Hain Celestial Group, Inc. (NASDAQ:HAIN) in its Q3 2022 investor letter. Headquartered in Lake Success, New York, The Hain Celestial Group, Inc. (NASDAQ:HAIN) is a global manufacturer and distributor of organic and natural products. On November 22, 2022, The Hain Celestial Group, Inc. (NASDAQ:HAIN) stock closed at $19.76 per share. One-month return of The Hain Celestial Group, Inc. (NASDAQ:HAIN) was 10.89% and its shares lost 51.92% of their value over the last 52 weeks. The Hain Celestial Group, Inc. (NASDAQ:HAIN) has a market capitalization of $1.765 billion.

ClearBridge Investments made the following comment about The Hain Celestial Group, Inc. (NASDAQ:HAIN) in its Q3 2022 investor letter:

“Meanwhile, cost inflation, exacerbated by the Ukraine war and the inflexibility of consumer staples company The Hain Celestial Group, Inc. (NASDAQ:HAIN) supply chain, have pressured near-term earnings power as well as Hain’s margin outlook; we exited our position.”

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The Hain Celestial Group, Inc. (NASDAQ:HAIN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held The Hain Celestial Group, Inc. (NASDAQ:HAIN) at the end of the third quarter, which was 25 in the previous quarter.

We discussed The Hain Celestial Group, Inc. (NASDAQ:HAIN) in another article and shared Madison Funds’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.