Haleon (NYSE:HLN) Trading Up 3.7% Following Dividend Announcement

Haleon plc (NYSE:HLN)’s share price was up 3.7% on Monday after the company announced a dividend. The company traded as high as $10.64 and last traded at $10.56. Approximately 5,868,120 shares traded hands during trading, a decline of 9% from the average daily volume of 6,443,225 shares. The stock had previously closed at $10.18.

The newly announced dividend which will be paid on Thursday, June 5th. Shareholders of record on Friday, April 25th will be issued a $0.1166 dividend. This represents a dividend yield of 1.6%. This is a boost from Haleon’s previous — dividend of $0.05. The ex-dividend date of this dividend is Friday, April 25th. Haleon’s dividend payout ratio is currently 58.97%.

Wall Street Analysts Forecast Growth

HLN has been the topic of several research reports. Morgan Stanley lowered Haleon from an “overweight” rating to an “equal weight” rating in a research note on Friday, January 10th. Sanford C. Bernstein downgraded shares of Haleon from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.95.

Haleon Price Performance

The firm has a market capitalization of $47.94 billion, a PE ratio of 31.15, a P/E/G ratio of 2.82 and a beta of 0.28. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.58 and a current ratio of 0.84. The stock has a fifty day moving average price of $9.59 and a 200-day moving average price of $9.84.

Haleon (NYSE:HLN) last posted its earnings results on Thursday, February 27th. The company reported $0.05 earnings per share (EPS) for the quarter. The company had revenue of $3.54 billion for the quarter, compared to analyst estimates of $3.38 billion. Haleon had a return on equity of 14.76% and a net margin of 10.85%. Sell-side analysts forecast that Haleon plc will post 0.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of HLN. Sierra Ocean LLC purchased a new position in Haleon in the fourth quarter worth $26,000. Versant Capital Management Inc grew its stake in Haleon by 2,029.1% during the 4th quarter. Versant Capital Management Inc now owns 3,513 shares of the company’s stock worth $34,000 after buying an additional 3,348 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in Haleon during the 4th quarter worth $35,000. Toronto Dominion Bank increased its position in Haleon by 3,470.0% during the 3rd quarter. Toronto Dominion Bank now owns 3,570 shares of the company’s stock valued at $38,000 after buying an additional 3,470 shares in the last quarter. Finally, Spire Wealth Management purchased a new stake in Haleon in the fourth quarter valued at about $39,000. Institutional investors own 6.67% of the company’s stock.

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.