Short Interest in Haleon PLC Sponsored ADR (NYSE:HLN) Drops By 20.8%

Key Points

• Short interest in Haleon PLC dropped by 20.8% in August, bringing the total to 16,270,000 shares, which is a small percentage of the company's stock at 0.4%.
• Institutional investors significantly increased their holdings, with Hanson & Doremus Investment Management raising their stake by 234.1% in the 2nd quarter.
• Haleon recently declared a semi-annual dividend of $0.0555 per share, an increase from the previous $0.05, reflecting a yield of 190.0%.

Haleon PLC Sponsored ADR (NYSE:HLN - Get Free Report) was the target of a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 16,270,000 shares, a drop of 20.8% from the August 15th total of 20,530,000 shares. Based on an average trading volume of 11,260,000 shares, the days-to-cover ratio is presently 1.4 days. Currently, 0.4% of the company's stock are sold short. Currently, 0.4% of the company's stock are sold short. Based on an average trading volume of 11,260,000 shares, the days-to-cover ratio is presently 1.4 days.

Hedge Funds Weigh In On Haleon

Institutional investors and hedge funds have recently modified their holdings of the stock. Hanson & Doremus Investment Management lifted its holdings in shares of Haleon by 234.1% in the 2nd quarter. Hanson & Doremus Investment Management now owns 2,372 shares of the company's stock valued at $25,000 after buying an additional 1,662 shares during the period. Bartlett & CO. Wealth Management LLC raised its holdings in Haleon by 135.9% in the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 2,588 shares of the company's stock worth $27,000 after purchasing an additional 1,491 shares during the period. Banque Transatlantique SA acquired a new position in Haleon in the 1st quarter worth about $27,000. Golden State Wealth Management LLC raised its holdings in Haleon by 107.6% in the 2nd quarter. Golden State Wealth Management LLC now owns 2,721 shares of the company's stock worth $28,000 after purchasing an additional 1,410 shares during the period. Finally, Opal Wealth Advisors LLC acquired a new position in Haleon in the 1st quarter worth about $29,000. Institutional investors and hedge funds own 6.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. BNP Paribas Exane upgraded Haleon from a "neutral" rating to an "outperform" rating and set a $13.40 price target on the stock in a report on Tuesday, May 27th. BNP Paribas upgraded Haleon to a "strong-buy" rating in a report on Tuesday, May 27th. Barclays downgraded Haleon from an "overweight" rating to an "equal weight" rating in a report on Tuesday. The Goldman Sachs Group upgraded Haleon from a "neutral" rating to a "buy" rating in a report on Wednesday, September 10th. Finally, Wall Street Zen downgraded Haleon from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.33.

Haleon Stock Performance

Haleon stock traded down $0.16 during trading hours on Thursday, hitting $9.25. 9,358,201 shares of the stock traded hands, compared to its average volume of 12,468,725. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.87 and a quick ratio of 0.63. The firm's 50 day moving average price is $9.69 and its 200-day moving average price is $10.19. The stock has a market capitalization of $41.38 billion, a price-to-earnings ratio of 23.71, a P/E/G ratio of 2.74 and a beta of 0.24. Haleon has a 1 year low of $8.86 and a 1 year high of $11.42.

Haleon Increases Dividend

The company 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 represents a yield of 190.0%. The ex-dividend date is Friday, August 15th. This is a boost from Haleon's previous semi-annual dividend of $0.05. Haleon's dividend payout ratio (DPR) is presently 28.21%.

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.

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