Invesco Ltd. Sells 926,566 Shares of Kenvue Inc. (NYSE:KVUE)

Invesco Ltd. cut its holdings in Kenvue Inc. (NYSE:KVUE) by 5.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,059,706 shares of the company’s stock after selling 926,566 shares during the quarter. Invesco Ltd.’s holdings in Kenvue were worth $385,112,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Pittenger & Anderson Inc. purchased a new stake in Kenvue during the 1st quarter valued at $30,000. TruNorth Capital Management LLC purchased a new stake in shares of Kenvue in the 1st quarter worth $36,000. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Kenvue by 120.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company’s stock worth $41,000 after purchasing an additional 929 shares in the last quarter. Clarity Asset Management Inc. purchased a new stake in shares of Kenvue in the 4th quarter worth $45,000. Finally, Continuum Advisory LLC increased its stake in shares of Kenvue by 2,071.1% in the 1st quarter. Continuum Advisory LLC now owns 1,954 shares of the company’s stock worth $47,000 after purchasing an additional 1,864 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on KVUE. Barclays reduced their price objective on Kenvue from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 15th. JPMorgan Chase & Co. reduced their price objective on Kenvue from $27.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, July 25th. Bank of America reduced their price objective on Kenvue from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, July 15th. UBS Group dropped their target price on shares of Kenvue from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, July 17th. Finally, Royal Bank Of Canada dropped their target price on shares of Kenvue from $24.00 to $22.00 and set a “sector perform” rating for the company in a report on Friday. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.38.

Kenvue Stock Down 0.6%

KVUE opened at $21.22 on Tuesday. The firm has a 50-day simple moving average of $21.57 and a two-hundred day simple moving average of $22.43. Kenvue Inc. has a 52 week low of $19.75 and a 52 week high of $25.17. The company has a market capitalization of $40.71 billion, a PE ratio of 28.67, a price-to-earnings-growth ratio of 4.08 and a beta of 0.83. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. Kenvue had a net margin of 9.37% and a return on equity of 20.06%. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the prior year, the firm earned $0.32 EPS. The business’s revenue was down 4.0% on a year-over-year basis. Analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.2075 per share. This is a boost from Kenvue’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $0.83 annualized dividend and a dividend yield of 3.9%. Kenvue’s payout ratio is currently 110.81%.

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.