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Chartwell Investment Partners on Hain Celestial (HAIN): “The European Business was Especially Weak”

·2 min read

Chartwell Investment Partners, an asset management company, released its second quarter 2022 investor letter. A copy of the same can be downloaded here. For the second quarter, Chartwell-managed accounts fell in line with their respective index benchmarks, however, the Chartwell Dividend Model outperformed by a significant margin versus its benchmark. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Chartwell Investment Partners mentioned The Hain Celestial Group, Inc. (NASDAQ:HAIN) and explained its insights for the company. Founded in 1993, The Hain Celestial Group, Inc. (NASDAQ:HAIN) is a Lake Success, New York-based food company with a $1.5 billion market capitalization. The Hain Celestial Group, Inc. (NASDAQ:HAIN) delivered a -59.52% return since the beginning of the year, while its 12-month returns are down by -57.05%. The stock closed at $17.25 per share on September 22, 2022.

Here is what Chartwell Investment Partners has to say about The Hain Celestial Group, Inc. (NASDAQ:HAIN) in its Q2 2022 investor letter:

"The three worst performers in the Growth and Balanced accounts includes Hain Celestial (NASDAQ:HAIN, 1.5%), down 31.0%. Hain’s woes were somewhat self-inflicted: disappointing quarterly earnings accompanied by a guide-down of expectations for the upcoming quarter. The European business was especially weak, and margins were hurt from rising input costs. We are maintaining patience as the company implements price increases."

Diet, Food, Vegetable
Diet, Food, Vegetable

Photo by Brooke Lark on Unsplash

Our calculations show that The Hain Celestial Group, Inc. (NASDAQ:HAIN) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. The Hain Celestial Group, Inc. (NASDAQ:HAIN) was in 25 hedge fund portfolios at the end of the second quarter of 2022, compared to 29 funds in the previous quarter. The Hain Celestial Group, Inc. (NASDAQ:HAIN) delivered a -26.35% return in the past 3 months.

In July 2022, we also shared another hedge fund’s views on The Hain Celestial Group, Inc. (NASDAQ:HAIN) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

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