Bank of America Corp DE Sells 2,138,888 Shares of Herbalife Ltd $HLF

Key Points

• Bank of America cut its Herbalife stake by 86.8% in the first quarter, selling 2,138,888 shares and retaining 325,835 shares worth approximately $4.8 million.
• Institutional sentiment was mixed: Arrowstreet, Geode, Quantedge, Dimensional Fund Advisors and Solel Partners increased their positions, while analysts’ consensus rating remained “Hold” with an average $17 price target.
• Herbalife reported quarterly revenue of $1.33 billion, up 5.4% year over year and above estimates, but earnings of $0.51 per share missed the $0.54 consensus. Shares opened at $12.48, well below their 52-week high of $20.40.

Bank of America Corp DE lowered its holdings in Herbalife Ltd (NYSE:HLF - Free Report) by 86.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 325,835 shares of the company's stock after selling 2,138,888 shares during the period. Bank of America Corp DE owned approximately 0.31% of Herbalife worth $4,796,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its holdings in shares of Herbalife by 11.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,596,795 shares of the company's stock worth $38,225,000 after purchasing an additional 267,539 shares in the last quarter. Geode Capital Management LLC lifted its position in Herbalife by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 2,577,634 shares of the company's stock worth $33,231,000 after purchasing an additional 25,783 shares during the period. Quantedge Capital Pte Ltd lifted its position in Herbalife by 5.2% during the fourth quarter. Quantedge Capital Pte Ltd now owns 2,249,683 shares of the company's stock worth $28,998,000 after purchasing an additional 111,700 shares during the period. Dimensional Fund Advisors LP grew its stake in Herbalife by 29.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,877,717 shares of the company's stock worth $27,638,000 after buying an additional 425,968 shares in the last quarter. Finally, Solel Partners LP increased its holdings in Herbalife by 18.7% in the 2nd quarter. Solel Partners LP now owns 1,669,405 shares of the company's stock valued at $14,390,000 after buying an additional 262,614 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HLF. Wall Street Zen cut shares of Herbalife from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Mizuho set a $17.00 target price on Herbalife in a research note on Monday, May 4th. Weiss Ratings lowered Herbalife from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, July 24th. Finally, Citigroup reaffirmed a "buy" rating and issued a $17.00 price objective (down from $21.00) on shares of Herbalife in a research note on Friday, August 7th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $17.00.

Herbalife Price Performance

Shares of NYSE HLF opened at $12.48 on Friday. The stock has a market capitalization of $1.31 billion, a P/E ratio of 8.05, a P/E/G ratio of 0.40 and a beta of 0.87. Herbalife Ltd has a 1 year low of $7.56 and a 1 year high of $20.40. The company has a 50-day moving average price of $12.43 and a 200-day moving average price of $14.03.

Herbalife (NYSE:HLF - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.03). The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.31 billion. Herbalife had a negative return on equity of 43.90% and a net margin of 3.16%.Herbalife's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 EPS. As a group, equities research analysts anticipate that Herbalife Ltd will post 2.68 earnings per share for the current fiscal year.

About Herbalife

Herbalife Nutrition Ltd. NYSE: HLF operates as a global multi-level marketing company specializing in weight-management, nutritional supplement, sports nutrition and personal care products. Its portfolio includes protein shakes, vitamins, energy and fitness supplements, hydration products and skin and hair care items, all formulated to support wellness, performance and healthy living. Products are manufactured in GMP-certified facilities to ensure consistent quality and safety standards.

Founded in 1980 by Mark R.

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