Hain Celestial Stock In Focus After Possible Class Action Over Arsenic Disclosure: Retail Neutral
By Stocktwits Inc | First Published Jan 2, 2025, 3:51 PM ISTRetail sentiment on Stocktwits has remained ‘neutral’ over the past week.
Hain Celestial stock came under pressure on Tuesday in connection to a reported class action alleging some of its baby food labels didn’t disclose the presence of arsenic, but retail sentiment stayed ‘neutral.’
According to a Reuters report, U.S. District Judge Nina Morrison is said to have quoted consumers who alleged Hain's Earth's Best Baby Food products exceeded "recognized safe thresholds" for arsenic.
That meant reasonable shoppers weren’t in a position to decide if they should have paid more for safe and healthy food they bought, the report added.
Hain shared have dropped 28% this month.
Retail sentiment on Stocktwits has remained ‘neutral’ over the past week. Message volumes in the meantime have dropped to the ‘normal’ range.
Last week, Mizuho lowered Hain’s price target to $7 from $8 with a ‘Neutral’ rating. The analyst was cited as saying that U.S. food valuations were near 20-year lows versus the S&P 500, with weaker expectations for EPS. Additionally, ongoing uncertainty about GLP-1 demand and new regulatory concerns are likely to limit investors' appetites to own the space in the near term, said the report, citing the analyst.
Latest Videos
Hoboken, N.J.-based Hain Celestial's products include snacks, beverages, meal preparation, and personal care, and are sold in over 70 countries around the world.
Its brands include Garden Veggie Snacks, Terra chips, Hartley's jelly, Cully & Sully, Yorkshire Provender, and Yves among others.
Hain’s stock is down 43% year-to-date.
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
subscribe to Asianet Newsable WhatsApp channel by clicking here.