Legal & General Group Plc Sells 461,687 Shares of Kenvue Inc. $KVUE

Legal & General Group Plc trimmed its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 3.1% during the fourth quarter, HoldingsChannel reports. The fund owned 14,324,238 shares of the company’s stock after selling 461,687 shares during the quarter. Legal & General Group Plc’s holdings in Kenvue were worth $247,093,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its holdings in Kenvue by 705.2% during the 3rd quarter. Cornerstone Planning Group LLC now owns 1,554 shares of the company’s stock worth $25,000 after acquiring an additional 1,361 shares during the last quarter. Physician Wealth Advisors Inc. grew its holdings in Kenvue by 67.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock worth $26,000 after acquiring an additional 618 shares during the last quarter. Elyxium Wealth LLC bought a new stake in Kenvue during the 4th quarter worth approximately $26,000. Golden State Wealth Management LLC grew its holdings in Kenvue by 150.1% during the 3rd quarter. Golden State Wealth Management LLC now owns 1,983 shares of the company’s stock worth $32,000 after acquiring an additional 1,190 shares during the last quarter. Finally, SBI Securities Co. Ltd. grew its holdings in Kenvue by 82.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company’s stock worth $39,000 after acquiring an additional 1,027 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on KVUE. Jefferies Financial Group lowered shares of Kenvue from a “buy” rating to a “hold” rating and reduced their target price for the stock from $23.00 to $18.00 in a report on Friday, January 30th. Citigroup reduced their target price on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, April 15th. Zacks Research raised shares of Kenvue from a “hold” rating to a “strong-buy” rating in a report on Friday, May 8th. Barclays reduced their target price on shares of Kenvue from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 14th. Finally, Weiss Ratings raised shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, Kenvue presently has a consensus rating of “Hold” and an average target price of $19.33.

Insider Transactions at Kenvue

In related news, General Counsel Matthew Orlando sold 38,491 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $17.66, for a total transaction of $679,751.06. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.59% of the stock is currently owned by corporate insiders.

Kenvue Price Performance

Shares of NYSE KVUE opened at $17.53 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.70 and a current ratio of 0.98. Kenvue Inc. has a 52-week low of $14.02 and a 52-week high of $24.00. The company’s 50 day moving average price is $17.41 and its 200-day moving average price is $17.45. The company has a market capitalization of $33.66 billion, a P/E ratio of 20.62, a price-to-earnings-growth ratio of 1.33 and a beta of 0.55.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. The business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. Kenvue’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 earnings per share. Equities analysts forecast that Kenvue Inc. will post 1.16 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be paid a dividend of $0.2075 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $0.83 annualized dividend and a yield of 4.7%. Kenvue’s dividend payout ratio is currently 97.65%.

Kenvue Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.