Raymond James Financial Inc. Cuts Stock Holdings in Haleon PLC Sponsored ADR $HLN

Key Points

• Raymond James Financial Inc. reduced its stake in Haleon PLC by selling 136,866 shares, bringing its total to approximately 4.28 million shares valued at about $44.1 million.
• Haleon has declared an increased semi-annual dividend of $0.0555, reflecting a dividend yield of 190% and a payout ratio of 28.21%.
• Brokerage ratings for Haleon vary, with two analysts suggesting a "Strong Buy," while others have downgraded the stock, contributing to a current consensus rating of "Moderate Buy" with a price target of $12.33.

Raymond James Financial Inc. decreased its holdings in Haleon PLC Sponsored ADR (NYSE:HLN - Free Report) by 3.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,285,893 shares of the company's stock after selling 136,866 shares during the period. Raymond James Financial Inc. owned approximately 0.10% of Haleon worth $44,102,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC raised its position in Haleon by 8.8% in the first quarter. Farther Finance Advisors LLC now owns 12,861 shares of the company's stock valued at $131,000 after purchasing an additional 1,041 shares during the period. Apollon Wealth Management LLC increased its holdings in Haleon by 5.4% during the 1st quarter. Apollon Wealth Management LLC now owns 21,722 shares of the company's stock worth $224,000 after purchasing an additional 1,111 shares during the period. Simplicity Wealth LLC increased its holdings in Haleon by 7.9% during the 1st quarter. Simplicity Wealth LLC now owns 15,482 shares of the company's stock worth $159,000 after purchasing an additional 1,135 shares during the period. Holistic Financial Partners lifted its position in shares of Haleon by 9.6% during the 1st quarter. Holistic Financial Partners now owns 13,379 shares of the company's stock worth $138,000 after purchasing an additional 1,172 shares during the last quarter. Finally, AE Wealth Management LLC lifted its position in shares of Haleon by 6.5% during the 1st quarter. AE Wealth Management LLC now owns 19,323 shares of the company's stock worth $199,000 after purchasing an additional 1,186 shares during the last quarter. 6.67% of the stock is currently owned by hedge funds and other institutional investors.

Haleon Trading Down 0.2%

Shares of HLN traded down $0.02 on Thursday, hitting $9.70. 2,685,589 shares of the stock traded hands, compared to its average volume of 12,720,465. The company has a quick ratio of 0.63, a current ratio of 0.87 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $43.48 billion, a P/E ratio of 24.86, a P/E/G ratio of 2.84 and a beta of 0.23. Haleon PLC Sponsored ADR has a 1 year low of $8.86 and a 1 year high of $11.42. The stock's 50 day moving average is $9.87 and its two-hundred day moving average is $10.21.

Haleon Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, September 18th. Shareholders of record on Friday, August 15th will be paid a dividend of $0.0555 per share. This is an increase from Haleon's previous semi-annual dividend of $0.05. This represents a yield of 190.0%. The ex-dividend date of this dividend is Friday, August 15th. Haleon's payout ratio is 28.21%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on HLN shares. BNP Paribas Exane raised shares of Haleon from a "neutral" rating to an "outperform" rating and set a $13.40 price target for the company in a research report on Tuesday, May 27th. Barclays reiterated an "overweight" rating on shares of Haleon in a research note on Tuesday, May 6th. Morgan Stanley upgraded shares of Haleon from an "equal weight" rating to an "overweight" rating and set a $11.25 price target on the stock in a research note on Friday, May 9th. Wall Street Zen downgraded shares of Haleon from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Finally, BNP Paribas raised shares of Haleon to a "strong-buy" rating in a report on Tuesday, May 27th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $12.33.

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.