Carl Icahn’s latest regulatory filing with the Securities and Exchange Commission (SEC) showed that he reduced his stockholding in The Hain Celestial Group, Inc. (NASDAQ:HAIN). The activist investor sold 3,650,000 shares.
According to a press statement from The Hain Celestial Group, Inc. (NASDAQ:HAIN), Carl Icahn sold his shares in the company to Jefferies Group LLC (NYSE:JEF), the underwriter in the registered public offering of the shares.
Yost Partners was up 0.8% for the first quarter, while the Yost Focused Long Funds lost 5% net. The firm's benchmark, the MSCI World Index, declined by 5.2%. The funds' returns outperformed their benchmark due to their tilt toward value, high exposures to energy and financials and a bias toward quality. In his first-quarter letter Read More
Carl Icahn sells large stake in Hain
Carl Icahn also provided Jefferies with the option to acquire additional 547,000 shares of The Hain Celestial Group, Inc. (NASDAQ:HAIN), which is exercisable within 30 days after the submission of his regulatory filing.
Hain Celestial Group, Inc (NASDAQ:HAIN) said that Jefferies Group LLC (NYSE:JEF) generally sells its stake in common stock in one or more transactions at NASDAQ OMX Group, Inc. (NASDAQ:NDAQ), over-the-counter-market, and through negotiated transactions.
Following its sale of its stake in The Hain Celestial Group, Inc. (NASDAQ:HAIN), Carl Icahn’s current stockholding in the company is 3,589,963 share or 7.5% of the total outstanding common stock of the organic and natural products company.
During the second quarter, the activist investor owned 7,239,963 shares in Hain Celestial Group, Inc (NASDAQ:HAIN) with $470,380,000 market value. Forbes Magazine listed Carl Icahn as one of highest earning hedge fund managers last year. He ranked second in the list after making profitable investments including his bets on CVR Energy, Inc. (NYSE:CVI) and Hain Celestial.
Hain announces new VP/CFO
Last month, the organic and natural products company announced the appointment of Stephen Smith as executive vice president and chief financial officer effective today, September 3. He succeeded Ira Lamel who retired from his position as CFO.
The fourth quarter financial results of The Hain Celestial Group, Inc. (NASDAQ:HAIN) for the current fiscal year was good. The company posted a 32% sales increase to $463.5 million and delivered GAAP earnings of $0.53 a share, up by 6%. Its adjusted EBITDA increased by 37.4% to $62.7 million.
Irwin D. Simon, Founder, President and Chief Executive Officer of The Hain Celestial Group, Inc. (NASDAQ:HAIN) said, “With record net sales, the highest in the company’s history, we delivered a strong finish to the end of our fiscal year, and I am pleased with the results. Our U.S .business achieved outstanding sales along with improvements in other key performance measures. Hain Daniels delivered increased results as it transitioned to a growing, more profitable platform in the UK, which we believe is well-positioned for accelerated growth. Our Rest of World segment, which includes Canada and Continental Europe, also delivered solid results.”
Shares of The Hain Celestial Group, Inc. (NASDAQ:HAIN) declined by more than 2% to $79.65 a share after the market closed in New York on Tuesday.