Gates Capital Management Inc. Cuts Stock Position in Kenvue Inc. (NYSE:KVUE)

Gates Capital Management Inc. lowered its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 16.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 5,460,529 shares of the company’s stock after selling 1,074,552 shares during the quarter. Kenvue comprises 2.2% of Gates Capital Management Inc.’s portfolio, making the stock its 13th largest holding. Gates Capital Management Inc.’s holdings in Kenvue were worth $116,582,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Focus Partners Wealth lifted its stake in shares of Kenvue by 18.1% during the 4th quarter. Focus Partners Wealth now owns 1,564,568 shares of the company’s stock worth $33,404,000 after acquiring an additional 239,712 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in Kenvue by 9.3% during the 4th quarter. Ensign Peak Advisors Inc now owns 169,137 shares of the company’s stock worth $3,611,000 after purchasing an additional 14,322 shares during the period. Clarity Asset Management Inc. bought a new stake in Kenvue during the 4th quarter valued at $45,000. Deutsche Bank AG grew its position in shares of Kenvue by 4.4% during the 4th quarter. Deutsche Bank AG now owns 10,693,952 shares of the company’s stock worth $228,316,000 after buying an additional 452,294 shares in the last quarter. Finally, Colonial Trust Co SC increased its stake in shares of Kenvue by 8.6% during the fourth quarter. Colonial Trust Co SC now owns 60,419 shares of the company’s stock valued at $1,290,000 after buying an additional 4,786 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Up 1.7 %

Shares of KVUE opened at $24.47 on Friday. The firm has a market cap of $46.95 billion, a P/E ratio of 46.17, a PEG ratio of 2.62 and a beta of 1.02. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $25.17. The stock’s 50 day moving average is $23.13 and its two-hundred day moving average is $22.56. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter last year, the business posted $0.28 earnings per share. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. Analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.35%. Kenvue’s payout ratio is presently 154.72%.

Analysts Set New Price Targets

KVUE has been the subject of several recent research reports. Barclays reduced their price target on shares of Kenvue from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Redburn Atlantic began coverage on shares of Kenvue in a research report on Thursday, April 10th. They set a “neutral” rating and a $23.50 target price for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price objective on shares of Kenvue in a research report on Monday, February 3rd. Piper Sandler boosted their price target on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Finally, Canaccord Genuity Group raised their price target on shares of Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $25.25.

Kenvue Company Profile

Kenvue Inc operates as a consumer health company worldwide. The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. The Self Care segment offers cough, cold and allergy, pain care, digestive health, smoking cessation, eye care, and other products under the Tylenol, Motrin, Benadryl, Nicorette, Zarbee's, ORSLTM, Rhinocort, Calpol, and Zyrtec brands.