Ballentine Partners LLC Cuts Position in Haleon plc (NYSE:HLN)

Ballentine Partners LLC lessened its holdings in Haleon plc (NYSE:HLN) by 9.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,913 shares of the company’s stock after selling 1,531 shares during the period. Ballentine Partners LLC’s holdings in Haleon were worth $123,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HLN. Cultivar Capital Inc. purchased a new position in shares of Haleon in the 2nd quarter worth approximately $40,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Haleon in the 1st quarter worth approximately $43,000. GAMMA Investing LLC boosted its stake in shares of Haleon by 151.3% in the 1st quarter. GAMMA Investing LLC now owns 6,106 shares of the company’s stock worth $52,000 after buying an additional 3,676 shares during the last quarter. Pinnacle Bancorp Inc. boosted its stake in shares of Haleon by 29.8% in the 1st quarter. Pinnacle Bancorp Inc. now owns 6,188 shares of the company’s stock worth $53,000 after buying an additional 1,421 shares during the last quarter. Finally, Hexagon Capital Partners LLC boosted its stake in shares of Haleon by 66.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 6,695 shares of the company’s stock worth $55,000 after buying an additional 2,677 shares during the last quarter. Hedge funds and other institutional investors own 6.67% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on HLN. Berenberg Bank began coverage on Haleon in a research note on Tuesday, August 6th. They issued a “buy” rating on the stock. The Goldman Sachs Group downgraded 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 and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Haleon Price Performance

Haleon stock opened at $10.38 on Friday. Haleon plc has a 12 month low of $7.70 and a 12 month high of $10.51. 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 business’s 50 day simple moving average is $9.54 and its 200 day simple moving average is $8.78. The company has a market cap of $47.40 billion, a price-to-earnings ratio of 34.60, a PEG ratio of 3.04 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 the consensus estimate of $0.09 by ($0.01). Haleon had a net margin of 9.71% and a return on equity of 13.15%. The firm had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter in the previous year, the company posted $0.08 EPS. Sell-side analysts forecast that Haleon plc will post 0.46 EPS for the current year.

Haleon Cuts Dividend

The company also recently declared a semi-annual dividend, which will be paid on Thursday, September 19th. Stockholders of record on Friday, August 16th will be issued a $0.0514 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a dividend yield of 1.6%. Haleon’s payout ratio is currently 33.33%.

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.