Envestnet Portfolio Solutions Inc. Cuts Holdings in Kenvue Inc. (NYSE:KVUE)

Envestnet Portfolio Solutions Inc. trimmed its position in Kenvue Inc. (NYSE:KVUE) by 38.7% during the 1st quarter, HoldingsChannel reports. The firm owned 299,336 shares of the company’s stock after selling 188,922 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Kenvue were worth $7,178,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. SRS Capital Advisors Inc. lifted its position in Kenvue by 67.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock valued at $30,000 after purchasing an additional 571 shares during the last quarter. Clarity Asset Management Inc. purchased a new stake in shares of Kenvue during the 4th quarter valued at about $45,000. SBI Securities Co. Ltd. bought a new position in shares of Kenvue in the 4th quarter valued at about $46,000. Deseret Mutual Benefit Administrators lifted its holdings in shares of Kenvue by 29.0% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company’s stock valued at $54,000 after acquiring an additional 568 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in Kenvue by 77.9% in the first quarter. Versant Capital Management Inc now owns 3,415 shares of the company’s stock worth $82,000 after acquiring an additional 1,495 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Stock Up 0.1%

NYSE:KVUE opened at $21.39 on Friday. The company has a market cap of $41.03 billion, a price-to-earnings ratio of 38.88, a price-to-earnings-growth ratio of 3.32 and a beta of 0.98. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $25.17. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. The stock has a fifty day simple moving average of $23.00 and a 200-day simple moving average of $22.43.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.24 EPS for the quarter, topping 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 net margin of 6.90% and a return on equity of 20.87%. The firm’s revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 EPS. Analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend was Wednesday, May 14th. Kenvue’s dividend payout ratio is presently 149.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on KVUE shares. Redburn Atlantic started coverage on Kenvue in a research report on Thursday, April 10th. They set a “neutral” rating and a $23.50 price objective on the stock. Canaccord Genuity Group boosted their target price on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Piper Sandler raised their price target on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. UBS Group lifted their price objective on shares of Kenvue from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Finally, Citigroup reiterated a “neutral” rating on shares of Kenvue in a research report on Friday, June 13th. Seven 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, the company currently has an average rating of “Hold” and an average price target of $25.33.

Kenvue 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.