Coho Partners Ltd. Trims Position in Kenvue Inc. (NYSE:KVUE)

Coho Partners Ltd. cut its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 38.2% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 206,953 shares of the company’s stock after selling 128,091 shares during the quarter. Coho Partners Ltd.’s holdings in Kenvue were worth $4,963,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. SRS Capital Advisors Inc. raised 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 worth $30,000 after buying an additional 571 shares during the last quarter. Clarity Asset Management Inc. acquired a new stake in shares of Kenvue during the 4th quarter worth approximately $45,000. SBI Securities Co. Ltd. acquired a new stake in shares of Kenvue during the 4th quarter worth approximately $46,000. Deseret Mutual Benefit Administrators grew its stake in shares of Kenvue by 29.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company’s stock worth $54,000 after purchasing an additional 568 shares during the period. Finally, Versant Capital Management Inc grew its stake in shares of Kenvue by 77.9% during the 1st quarter. Versant Capital Management Inc now owns 3,415 shares of the company’s stock worth $82,000 after purchasing an additional 1,495 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Trading Up 0.1%

Shares of KVUE stock opened at $21.39 on Friday. The stock’s fifty day moving average is $22.99 and its two-hundred day moving average is $22.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 0.86. The firm has a market capitalization of $41.03 billion, a P/E ratio of 38.88, a PEG ratio of 3.32 and a beta of 0.98. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $25.17.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. Kenvue had a return on equity of 20.87% and a net margin of 6.90%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. Research analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.83%. Kenvue’s payout ratio is currently 149.09%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Piper Sandler raised their price objective on shares of Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Barclays raised their price objective on shares of Kenvue from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. UBS Group raised 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. Canaccord Genuity Group raised their price objective on shares of Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Kenvue in a research note on Friday, June 13th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus 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.