Douglas Lane & Associates LLC Decreases Position in Haleon plc (NYSE:HLN)

Douglas Lane & Associates LLC lessened its holdings in Haleon plc (NYSE:HLN) by 0.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 8,462,284 shares of the company’s stock after selling 71,484 shares during the quarter. Haleon comprises approximately 1.2% of Douglas Lane & Associates LLC’s investment portfolio, making the stock its 26th largest holding. Douglas Lane & Associates LLC’s holdings in Haleon were worth $89,531,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its position in shares of Haleon by 182.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 438,833 shares of the company’s stock worth $3,726,000 after purchasing an additional 283,410 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Haleon during the 1st quarter worth $1,969,000. Wellington Management Group LLP lifted its position in shares of Haleon by 164.6% during the 4th quarter. Wellington Management Group LLP now owns 13,542,346 shares of the company’s stock worth $111,454,000 after purchasing an additional 8,423,475 shares during the last quarter. Procyon Advisors LLC lifted its position in shares of Haleon by 559.9% during the 1st quarter. Procyon Advisors LLC now owns 131,665 shares of the company’s stock worth $1,118,000 after purchasing an additional 111,713 shares during the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of Haleon during the 2nd quarter worth $2,833,000. Hedge funds and other institutional investors own 6.67% of the company’s stock.

Haleon Stock Down 0.7 %

NYSE:HLN traded down $0.07 during midday trading on Friday, hitting $10.05. 3,079,115 shares of the company were exchanged, compared to its average volume of 5,128,434. The company has a fifty day simple moving average of $10.17 and a 200 day simple moving average of $9.08. Haleon plc has a fifty-two week low of $7.70 and a fifty-two week high of $10.80. The company has a current ratio of 0.84, a quick ratio of 0.58 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $45.80 billion, a PE ratio of 33.50, a price-to-earnings-growth ratio of 2.93 and a beta of 0.26.

Haleon (NYSE:HLN) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The business 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 quarter in the prior year, the firm posted $0.08 earnings per share. As a group, equities analysts anticipate that Haleon plc will post 0.47 earnings per share for the current fiscal year.

Haleon Cuts Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, September 19th. Shareholders of record on Friday, August 16th were paid a $0.0514 dividend. The ex-dividend date was Friday, August 16th. This represents a yield of 1.6%. Haleon’s dividend payout ratio is presently 36.67%.

Wall Street Analyst Weigh In

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

About Haleon

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.