Cedar Wealth Management LLC Sells 750 Shares of Kenvue Inc. (NYSE:KVUE)

Cedar Wealth Management LLC lessened its stake in shares of Kenvue Inc. (NYSE:KVUE) by 14.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,272 shares of the company’s stock after selling 750 shares during the period. Cedar Wealth Management LLC’s holdings in Kenvue were worth $102,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Kenvue by 3.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company’s stock valued at $5,249,665,000 after acquiring an additional 8,211,748 shares during the last quarter. Starboard Value LP bought a new position in shares of Kenvue in the 4th quarter valued at about $467,864,000. Northern Trust Corp lifted its holdings in shares of Kenvue by 15.4% in the 4th quarter. Northern Trust Corp now owns 20,948,704 shares of the company’s stock valued at $447,255,000 after acquiring an additional 2,796,306 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Kenvue by 19.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 18,924,179 shares of the company’s stock valued at $404,002,000 after acquiring an additional 3,025,924 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Kenvue by 13.1% in the 4th quarter. Invesco Ltd. now owns 16,986,272 shares of the company’s stock valued at $362,657,000 after acquiring an additional 1,961,051 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of NYSE:KVUE opened at $21.60 on Friday. The firm has a market cap of $41.44 billion, a PE ratio of 39.27, a price-to-earnings-growth ratio of 3.62 and a beta of 0.83. The firm’s 50 day simple moving average is $21.82 and its 200-day simple moving average is $22.39. Kenvue Inc. has a one year low of $18.10 and a one year high of $25.17. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 0.86.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, May 8th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The business 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 quarterly revenue was down 3.9% compared to the same quarter last year. During the same period last year, the company posted $0.28 earnings per share. As a group, equities analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be paid a dividend of $0.2075 per share. This is a boost from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.83 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Wednesday, August 13th. Kenvue’s payout ratio is 149.09%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KVUE. Citigroup lowered their price target on shares of Kenvue from $24.50 to $22.00 and set a “neutral” rating for the company in a report on Tuesday, July 15th. JPMorgan Chase & Co. lowered their price target on shares of Kenvue from $27.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, July 25th. Barclays lowered their price target on shares of Kenvue from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Tuesday, July 15th. Redburn Atlantic began coverage on shares of Kenvue in a report on Thursday, April 10th. They issued a “neutral” rating and a $23.50 price target for the company. Finally, Bank of America reduced their price objective on shares of Kenvue from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, July 15th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Kenvue currently has a consensus rating of “Hold” and a consensus price target of $24.79.

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.