Kenvue Inc. (NYSE:KVUE) Stock Position Decreased by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management trimmed its stake in Kenvue Inc. (NYSE:KVUE) by 10.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,579 shares of the company’s stock after selling 1,128 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Kenvue were worth $230,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of KVUE. Longbow Finance SA boosted its position in shares of Kenvue by 5.0% in the 4th quarter. Longbow Finance SA now owns 280,568 shares of the company’s stock valued at $5,990,000 after purchasing an additional 13,287 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in shares of Kenvue by 143.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 47,938 shares of the company’s stock valued at $1,023,000 after acquiring an additional 28,216 shares during the period. CORDA Investment Management LLC. raised its holdings in shares of Kenvue by 1.4% during the fourth quarter. CORDA Investment Management LLC. now owns 1,253,096 shares of the company’s stock valued at $26,754,000 after acquiring an additional 17,466 shares during the period. Starboard Value LP purchased a new stake in shares of Kenvue in the 4th quarter valued at approximately $467,864,000. Finally, TrueMark Investments LLC boosted its stake in Kenvue by 9.3% in the 4th quarter. TrueMark Investments LLC now owns 190,595 shares of the company’s stock worth $4,069,000 after purchasing an additional 16,161 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KVUE. Barclays boosted their target price on shares of Kenvue from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Citigroup restated a “neutral” rating on shares of Kenvue in a research report on Friday, June 13th. Redburn Atlantic assumed coverage on Kenvue in a report on Thursday, April 10th. They issued a “neutral” rating and a $23.50 target price on the stock. UBS Group increased their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Finally, Evercore ISI assumed coverage on shares of Kenvue in a research report on Monday, March 24th. They set an “in-line” rating and a $25.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Kenvue presently has a consensus rating of “Hold” and an average target price of $25.33.

Kenvue Stock Down 0.7%

Shares of Kenvue stock opened at $21.21 on Wednesday. The firm has a market cap of $40.70 billion, a price-to-earnings ratio of 38.57, a P/E/G ratio of 3.32 and a beta of 0.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.60. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $25.17. The stock has a 50-day simple moving average of $22.96 and a 200-day simple moving average of $22.39.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data 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 firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. The company’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 earnings per share. On average, equities research analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.87%. The ex-dividend date of this dividend was Wednesday, May 14th. Kenvue’s dividend payout ratio is 149.09%.

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.