E. Ohman J or Asset Management AB Reduces Stock Holdings in Kenvue Inc. (NYSE:KVUE)

E. Ohman J or Asset Management AB lowered its position in Kenvue Inc. (NYSE:KVUE) by 4.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,500 shares of the company’s stock after selling 3,500 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Kenvue were worth $1,930,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. SRS Capital Advisors Inc. lifted its position in shares of Kenvue by 67.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after purchasing an additional 571 shares in the last quarter. Asset Planning Inc acquired a new stake in shares of Kenvue during the fourth quarter worth about $42,000. Clarity Asset Management Inc. acquired a new stake in shares of Kenvue during the fourth quarter worth about $45,000. SBI Securities Co. Ltd. acquired a new stake in shares of Kenvue during the fourth quarter worth about $46,000. Finally, Deseret Mutual Benefit Administrators lifted its position in shares of Kenvue by 29.0% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company’s stock worth $54,000 after purchasing an additional 568 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of KVUE opened at $21.73 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The firm has a market cap of $41.69 billion, a PE ratio of 41.00, a price-to-earnings-growth ratio of 2.62 and a beta of 0.98. The company’s 50 day simple moving average is $23.16 and its 200-day simple moving average is $22.60. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $25.17.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.28 earnings per share. As a group, equities analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were given a dividend of $0.205 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.77%. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

Analyst Ratings Changes

Several brokerages have recently issued reports on KVUE. Citigroup increased their price target on shares of Kenvue from $22.00 to $24.50 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Piper Sandler raised their target price on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Barclays raised their target price on shares of Kenvue from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Evercore ISI assumed coverage on shares of Kenvue in a report on Monday, March 24th. They issued an “in-line” rating and a $25.00 target price on the stock. Finally, UBS Group raised their target price on shares of Kenvue from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $25.33.

About Kenvue

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.