Raymond James & Associates Reduces Stock Position in Haleon plc (NYSE:HLN)

Raymond James & Associates trimmed its position in Haleon plc (NYSE:HLN) by 4.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,837,536 shares of the company’s stock after selling 182,442 shares during the quarter. Raymond James & Associates owned about 0.08% of Haleon worth $40,601,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clearbridge Investments LLC increased its holdings in Haleon by 8.6% in the 2nd quarter. Clearbridge Investments LLC now owns 41,753,987 shares of the company’s stock worth $344,888,000 after buying an additional 3,307,009 shares during the period. Sculptor Capital LP increased its stake in shares of Haleon by 67.8% in the second quarter. Sculptor Capital LP now owns 8,887,098 shares of the company’s stock worth $73,407,000 after acquiring an additional 3,592,000 shares during the period. Douglas Lane & Associates LLC raised its holdings in shares of Haleon by 1.6% during the second quarter. Douglas Lane & Associates LLC now owns 8,533,768 shares of the company’s stock worth $70,489,000 after purchasing an additional 131,892 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in Haleon by 2.7% during the second quarter. Envestnet Asset Management Inc. now owns 7,572,548 shares of the company’s stock valued at $62,549,000 after purchasing an additional 196,843 shares during the period. Finally, Martin Investment Management LLC boosted its holdings in Haleon by 12,018.4% in the first quarter. Martin Investment Management LLC now owns 4,463,205 shares of the company’s stock valued at $37,893,000 after purchasing an additional 4,426,375 shares during the last quarter. Institutional investors and hedge funds own 6.67% of the company’s stock.

Haleon Stock Performance

NYSE HLN opened at $9.91 on Wednesday. The company has a current ratio of 0.84, a quick ratio of 0.58 and a debt-to-equity ratio of 0.44. Haleon plc has a twelve month low of $7.70 and a twelve month high of $10.80. The stock has a 50-day moving average of $10.23 and a 200 day moving average of $9.17. The stock has a market capitalization of $45.25 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 2.93 and a beta of 0.26.

Haleon (NYSE:HLN) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The company had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.55 billion. Haleon had a net margin of 9.71% and a return on equity of 13.15%. During the same period in the prior year, the business posted $0.08 EPS. Sell-side analysts anticipate that Haleon plc will post 0.47 EPS for the current fiscal year.

Haleon Cuts Dividend

The company also recently announced a semi-annual dividend, which was paid on Thursday, September 19th. Stockholders of record on Friday, August 16th were given a $0.0514 dividend. The ex-dividend date was Friday, August 16th. This represents a dividend yield of 1.6%. Haleon’s dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analysts Forecast Growth

HLN has been the subject of several analyst reports. Berenberg Bank began coverage on Haleon in a report on Tuesday, August 6th. They issued a “buy” rating for the company. The Goldman Sachs Group downgraded Haleon from a “buy” rating to a “neutral” rating in a report on Tuesday, August 6th. Morgan Stanley raised their price objective on shares of Haleon from $9.90 to $10.95 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Finally, UBS Group upgraded shares of Haleon to a “strong-buy” rating in a research note on Tuesday, October 1st. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $10.95.

Haleon Profile

Haleon plc, together with its subsidiaries, engages in the research, development, manufacture, and sale of various consumer healthcare products in North America, Europe, the Middle East, Africa, Latin America, and the Asia Pacific. The company provides oral health products, such as toothpastes, mouth washes, and denture care products under the Sensodyne, Polident, Parodontax, Biotene brands; and vitamins, minerals, and supplements under Centrum, Emergen-C, Caltrate brands.