Primecap Management Co. CA Sells 3,400 Shares of Haleon plc (NYSE:HLN)

Primecap Management Co. CA decreased its position in shares of Haleon plc (NYSE:HLN) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 548,000 shares of the company’s stock after selling 3,400 shares during the quarter. Primecap Management Co. CA’s holdings in Haleon were worth $4,526,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Cultivar Capital Inc. bought a new position in Haleon during the 2nd quarter worth about $40,000. Allspring Global Investments Holdings LLC purchased a new stake 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% during the first quarter. GAMMA Investing LLC now owns 6,106 shares of the company’s stock valued at $52,000 after purchasing an additional 3,676 shares in the last quarter. Pinnacle Bancorp Inc. increased its holdings in Haleon by 29.8% during the first quarter. Pinnacle Bancorp Inc. now owns 6,188 shares of the company’s stock valued at $53,000 after buying an additional 1,421 shares during the period. Finally, Hexagon Capital Partners LLC raised its stake in Haleon by 66.6% in the second 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 in the last quarter. Hedge funds and other institutional investors own 6.67% of the company’s stock.

Haleon Price Performance

Shares of HLN opened at $10.56 on Thursday. The company has a 50 day moving average of $9.66 and a two-hundred day moving average of $8.83. The company has a market cap of $48.22 billion, a price-to-earnings ratio of 35.20, a price-to-earnings-growth ratio of 3.10 and a beta of 0.26. The company has a quick ratio of 0.58, a current ratio of 0.84 and a debt-to-equity ratio of 0.44. Haleon plc has a twelve month low of $7.70 and a twelve month high of $10.76.

Haleon (NYSE:HLN) last announced its earnings results on Thursday, August 1st. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.01). Haleon had a return on equity of 13.15% and a net margin of 9.71%. The business had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.55 billion. During the same quarter last year, the firm earned $0.08 earnings per share. As a group, analysts predict that Haleon plc will post 0.46 earnings per share for the current fiscal year.

Haleon Cuts Dividend

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

Analyst Upgrades and Downgrades

HLN has been the topic of several recent research reports. The Goldman Sachs Group cut Haleon from a “buy” rating to a “neutral” rating in a research report on Tuesday, August 6th. Berenberg Bank assumed coverage on Haleon in a research note on Tuesday, August 6th. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

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.