Equity Investment Corp Sells 893,724 Shares of Kenvue Inc. (NYSE:KVUE)

Equity Investment Corp reduced its position in Kenvue Inc. (NYSE:KVUE) by 13.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,523,915 shares of the company’s stock after selling 893,724 shares during the quarter. Kenvue makes up about 3.0% of Equity Investment Corp’s portfolio, making the stock its 8th largest position. Equity Investment Corp owned 0.29% of Kenvue worth $132,463,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Fulton Bank N.A. boosted its holdings in shares of Kenvue by 0.6% during the 1st quarter. Fulton Bank N.A. now owns 78,888 shares of the company’s stock worth $1,892,000 after buying an additional 465 shares in the last quarter. Scott & Selber Inc. grew its holdings in Kenvue by 0.4% in the first quarter. Scott & Selber Inc. now owns 106,621 shares of the company’s stock worth $2,557,000 after purchasing an additional 475 shares during the period. Keystone Financial Group raised its holdings in shares of Kenvue by 4.8% during the fourth quarter. Keystone Financial Group now owns 12,736 shares of the company’s stock valued at $272,000 after purchasing an additional 578 shares during the period. Transatlantique Private Wealth LLC boosted its position in shares of Kenvue by 5.7% during the 4th quarter. Transatlantique Private Wealth LLC now owns 10,680 shares of the company’s stock worth $228,000 after purchasing an additional 580 shares in the last quarter. Finally, Byrne Asset Management LLC grew its stake in shares of Kenvue by 1.0% in the 1st quarter. Byrne Asset Management LLC now owns 63,467 shares of the company’s stock valued at $1,522,000 after buying an additional 621 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Price Performance

Shares of NYSE KVUE opened at $21.41 on Wednesday. The company has a market capitalization of $41.07 billion, a PE ratio of 38.92, a PEG ratio of 3.39 and a beta of 0.83. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average price is $22.26 and its 200-day moving average price is $22.29. Kenvue Inc. has a twelve month low of $17.85 and a twelve month high of $25.17.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. Kenvue had a return on equity of 20.87% and a net margin of 6.90%. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The business’s revenue was down 3.9% on a year-over-year basis. On average, equities analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Bank of America dropped their price target on Kenvue from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday. Redburn Atlantic assumed coverage on Kenvue in a report on Thursday, April 10th. They set a “neutral” rating and a $23.50 price objective for the company. Barclays cut their target price on Kenvue from $23.00 to $22.00 and set an “equal weight” rating on the stock in a report on Tuesday. UBS Group raised their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, May 9th. Finally, Citigroup decreased their target price on shares of Kenvue from $24.50 to $22.00 and set a “neutral” rating for the company in a research report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $24.88.

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.