Energy Cost in Europe Affected Hain Celestial (HAIN)’s Margin

ClearBridge Investments, an investment management company, released its “ClearBridge Sustainability Leaders Strategy” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund’s portfolio outperformed the Russell 3000 benchmark Index in the second quarter of 2022. Stock selection and sector allocation contributed to the fund’s performance. For more information on the fund’s top picks in 2022, please check its top five holdings.

In the letter, ClearBridge Investments discussed its ClearBridge Sustainability Leaders Strategy portfolio. The fund discussed The Hain Celestial Group, Inc. (NASDAQ:HAIN) in the letter. The Hain Celestial Group, Inc. (NASDAQ:HAIN) engages in the business of organic and natural products and is headquartered in Lake Success, New York. The stock of The Hain Celestial Group, Inc. (NASDAQ:HAIN) closed at $23.00 per share on August 5, 2022. One-month return of The Hain Celestial Group, Inc. (NASDAQ:HAIN) was -1.03% and its shares lost 42.57% of their value over the last 52 weeks. The Hain Celestial Group, Inc. (NASDAQ:HAIN) has a market capitalization of $2.065 billion.

Here is what ClearBridge Sustainability Leaders Strategy Strategy specifically said about The Hain Celestial Group, Inc. (NASDAQ:HAIN) in its second-quarter investor letter:

“The health care, consumer staples and utilities sectors showed their characteristic defensiveness, outperforming handily in a down market. While our consumer staples and utilities holdings held up less than we hoped (high energy costs in Europe hurt The Hain Celestial Group, Inc. (NASDAQ:HAIN) margins and outlook, while higher interest rates weighed on Brookfield Renewable (BEP)) individual health care standouts were the top contributors for the quarter, driven by a mixture of market sentiment and stock-specific news.”

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Our research shows that The Hain Celestial Group, Inc. (NASDAQ:HAIN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held The Hain Celestial Group, Inc. (NASDAQ:HAIN) at the end of the first quarter which was 26 in the previous quarter.

We discussed The Hain Celestial Group, Inc. (NASDAQ:HAIN) in another article and shared Carillon Tower Advisers’ views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

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