Federated Hermes Inc. Boosts Stock Position in Helen of Troy Limited (NASDAQ:HELE)

Key Points

• Federated Hermes Inc. increased its stake in Helen of Troy Limited by 3,325.3%, owning 185,616 shares valued at approximately $9.93 million at the end of the reporting period.
• Insiders, including the CFO and CEO, purchased shares of Helen of Troy on July 15th, indicating confidence in the company's future performance.
• Recent analyst reports have downgraded the company, with Canaccord Genuity reducing its price target significantly from $47.00 to $26.00.

Federated Hermes Inc. raised its stake in Helen of Troy Limited (NASDAQ:HELE - Free Report) by 3,325.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 185,616 shares of the company's stock after acquiring an additional 180,197 shares during the quarter. Federated Hermes Inc. owned approximately 0.81% of Helen of Troy worth $9,929,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board lifted its position in shares of Helen of Troy by 66.7% in the 4th quarter. Canada Pension Plan Investment Board now owns 500 shares of the company's stock worth $30,000 after purchasing an additional 200 shares during the period. Sterling Capital Management LLC raised its stake in Helen of Troy by 844.7% during the fourth quarter. Sterling Capital Management LLC now owns 718 shares of the company's stock worth $43,000 after buying an additional 642 shares during the last quarter. Quarry LP lifted its holdings in Helen of Troy by 917.5% in the fourth quarter. Quarry LP now owns 814 shares of the company's stock valued at $49,000 after buying an additional 734 shares during the period. IMA Advisory Services Inc. bought a new stake in Helen of Troy during the first quarter valued at $52,000. Finally, LSV Asset Management acquired a new stake in Helen of Troy during the 4th quarter worth about $168,000.

Helen of Troy Stock Down 1.9%

NASDAQ:HELE traded down $0.41 on Friday, hitting $21.57. The stock had a trading volume of 727,340 shares, compared to its average volume of 1,401,841. The company has a quick ratio of 0.74, a current ratio of 1.70 and a debt-to-equity ratio of 0.69. Helen of Troy Limited has a 52 week low of $20.02 and a 52 week high of $77.95. The business's fifty day moving average is $26.39 and its 200 day moving average is $39.50. The company has a market cap of $494.82 million, a PE ratio of -1.49 and a beta of 0.86.

Helen of Troy (NASDAQ:HELE - Get Free Report) last issued its earnings results on Thursday, July 10th. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.50). Helen of Troy had a positive return on equity of 8.96% and a negative net margin of 17.89%. The firm had revenue of $371.66 million during the quarter, compared to the consensus estimate of $400.69 million. During the same quarter in the prior year, the business earned $0.99 earnings per share. Helen of Troy's revenue for the quarter was down 10.8% on a year-over-year basis. On average, equities research analysts expect that Helen of Troy Limited will post 6.46 EPS for the current fiscal year.

Insider Activity

In related news, CFO Tracy Scheuerman acquired 10,000 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was purchased at an average cost of $20.13 per share, with a total value of $201,300.00. Following the acquisition, the chief financial officer owned 33,041 shares of the company's stock, valued at approximately $665,115.33. This trade represents a 43.40% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian Grass bought 10,000 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was bought at an average price of $21.47 per share, for a total transaction of $214,700.00. Following the acquisition, the chief executive officer directly owned 135,932 shares of the company's stock, valued at approximately $2,918,460.04. This represents a 7.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 20,435 shares of company stock worth $425,948. 0.45% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HELE. UBS Group dropped their price objective on Helen of Troy from $32.00 to $29.00 and set a "neutral" rating on the stock in a research note on Friday, July 11th. Canaccord Genuity Group restated a "hold" rating and set a $26.00 price target (down from $47.00) on shares of Helen of Troy in a report on Friday, July 11th. Finally, Wall Street Zen downgraded shares of Helen of Troy from a "buy" rating to a "hold" rating in a research report on Friday, May 2nd.

About Helen of Troy

Helen of Troy Limited provides various consumer products in the United States, Canada, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. The company operates in two segments: Home & Outdoor and Beauty & Wellness. The Home & Outdoor segment offers food storage containers, kitchen utensils for cooking and preparing salads, fruits, vegetables and meats, graters, slicers and choppers, baking essentials, kitchen organization, bath, cleaning, infant and toddler products, and coffee preparation tools and electronics; and insulated beverageware, including bottles, travel tumblers, drinkware, mugs, food and lunch containers, insulated totes, soft coolers, outdoor kitchenware, and accessories.