Vanguard Trims Neogen Stake to 6.5%, Sells 157,908 Shares

TL;DR

**Vanguard just cut its Neogen stake to 6.5%, selling 157,908 shares.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, disclosing its ownership in Neogen Corp. As of December 29, 2023, Vanguard beneficially owned 7,157,908 shares of Neogen's Common Stock, representing 6.5% of the company. This is a decrease from their previous filing, where they reported 7,315,816 shares, indicating Vanguard sold 157,908 shares. This matters to investors because a large institutional investor like Vanguard reducing its stake could signal a less optimistic outlook on Neogen's future performance.

Why It Matters

This filing shows a significant institutional investor, Vanguard, has slightly reduced its holdings in Neogen, which could be interpreted by the market as a minor loss of confidence or a portfolio rebalancing.

Risk Assessment

Risk Level: low — The change in ownership is a minor reduction by a passive institutional investor and does not indicate a significant shift in company fundamentals or immediate risk.

Analyst Insight

Investors should note Vanguard's slight reduction in Neogen shares, but recognize it's a minor adjustment by a passive investor, not necessarily a strong bearish signal. It warrants continued monitoring of Neogen's fundamentals and other institutional activity.

Key Numbers

• 7,157,908 — Total Shares Beneficially Owned (Vanguard's total holding in Neogen Corp as of December 29, 2023.)
• 6.5% — Percentage of Class (Vanguard's ownership stake in Neogen Corp's Common Stock.)
• 157,908 — Shared Voting Power Shares (Number of shares over which Vanguard has shared voting power.)
• 7,000,000 — Sole Dispositive Power Shares (Number of shares over which Vanguard has sole dispositive power.)
• December 29, 2023 — Event Date (The date that triggered the requirement for this filing.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Neogen Corp (company) — issuer of the securities
• December 29, 2023 (date) — date of event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A
• 6.5% (dollar_amount) — percentage of Neogen's Common Stock beneficially owned by Vanguard
• 7,157,908 shares (dollar_amount) — total shares beneficially owned by Vanguard
• 157,908 shares (dollar_amount) — shares with shared voting power
• 7,000,000 shares (dollar_amount) — shares with sole dispositive power

Forward-Looking Statements

• Neogen's stock price may experience minor downward pressure due to Vanguard's reduced stake. (Neogen Corp) — low confidence, target: Q1 2024

FAQ

Filing Documents

• tv01525-neogencorp.htm (SC 13G/A) — 11KB
• 0001104659-24-021536.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Neogen Corp

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 620 Lesher Place Lansing, MI 48912

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 640491106

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR