Meridian Financial Partners LLC Sells 7,169 Shares of Kenvue Inc. (NYSE:KVUE)

Meridian Financial Partners LLC lessened its stake in shares of Kenvue Inc. (NYSE:KVUE) by 24.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,049 shares of the company’s stock after selling 7,169 shares during the period. Meridian Financial Partners LLC’s holdings in Kenvue were worth $529,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KVUE. SRS Capital Advisors Inc. increased its position in Kenvue by 67.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock valued at $30,000 after buying an additional 571 shares in the last quarter. Asset Planning Inc bought a new position in Kenvue during the 4th quarter valued at approximately $42,000. Clarity Asset Management Inc. bought a new position in Kenvue during the 4th quarter valued at approximately $45,000. SBI Securities Co. Ltd. bought a new position in Kenvue during the 4th quarter valued at approximately $46,000. Finally, Deseret Mutual Benefit Administrators increased its position in Kenvue by 29.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company’s stock valued at $54,000 after buying an additional 568 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on KVUE shares. UBS Group raised their price objective on Kenvue from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Barclays lifted their target price on Kenvue from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Piper Sandler lifted their target price on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Redburn Atlantic initiated coverage on Kenvue in a report on Thursday, April 10th. They issued a “neutral” rating and a $23.50 target price for the company. Finally, Evercore ISI initiated coverage on Kenvue in a report on Monday, March 24th. They issued an “in-line” rating and a $25.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kenvue currently has an average rating of “Hold” and an average price target of $25.33.

Kenvue Price Performance

NYSE KVUE opened at $21.73 on Friday. The company has a market capitalization 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 has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The business’s fifty day moving average is $23.12 and its 200 day moving average is $22.58. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $25.17.

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. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Kenvue’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.28 earnings per share. Sell-side analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors 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 annualized dividend and a yield of 3.77%. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

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.