Carl Icahn completely offloaded his stake in
The Hain Celestial Group, Inc.
). Once a major stockholder in the natural food and personal care
products maker, Icahn and related entities sold the remaining
3,589,963 shares to Jefferies LLC, which acted as an underwriter.
Earlier this month, Icahn divested approximately 50% of his stake
in Hain Celestial, selling 3,650,000 shares.
Hain Celestial remains a healthy option for investors. Barring
a few hiccups, the shares have been portraying an upward trend
since February end and is gradually inching closer to its 52-week
high of $85.48. Considering the last traded price of $79.40 on
Sep 13, the stock has amassed a year-to-date return of roughly
40.6%. The long-term EPS growth rate stands healthy at 13.6%.
Moreover, the company's last traded price was above the 50 and
200-day moving averages, which stand at $76.94 and $67.30,
respectively. In fact, the stock has been consistently trading
above its 200-day moving average since Mar 19, 2013, but has
remained above the 50-day moving average since Jul 1, 2013.
If we look at the company's earnings surprise history for the
last 13 quarters, Hain Celestial has topped estimates by an
average of 4.6%. In the last concluded quarter, the company
posted earnings of 65 cents a share that comfortably surpassed
the Zacks Consensus Estimate of 62 cents and surged 38.3% year
Management cited that strong top-line growth, integration of
acquired businesses, focus on high margin carrying brands, and
elimination of underperforming private label brands facilitated
the bottom-line growth.
Hain Celestial hopes to sustain strong momentum across entire
business segments as it remains well positioned to capitalize on
the growing global demand for organic products. Alongside,
management now anticipates sales in the range of $2,025 million
to $2,050 million in fiscal 2014, reflecting a year-over-year
increase of 17%. Earnings are projected in the range of $2.95 to
$3.05 per share, up 16% to 20% year over year.
Currently, Hain Celestial carries a Zacks Rank #3 (Hold).
Other stocks worth considering in the food-miscellaneous sector
Green Mountain Coffee Roasters, Inc.
) holding a Zacks Rank #1 (Strong Buy), and
Pinnacle Foods Inc.
Dole Food Company Inc.
) both carrying a Zacks Rank #2 (Buy).
DOLE FOOD CO (DOLE): Free Stock Analysis
GREEN MTN COFFE (GMCR): Free Stock Analysis
HAIN CELESTIAL (HAIN): Free Stock Analysis
PINNACLE FOODS (PF): Free Stock Analysis
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