Cardinal Point Capital Management ULC Sells 46,563 Shares of Kenvue Inc. $KVUE

Cardinal Point Capital Management ULC lessened its stake in Kenvue Inc. (NYSE:KVUE) by 15.3% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 257,127 shares of the company’s stock after selling 46,563 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Kenvue were worth $4,433,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Elyxium Wealth LLC acquired a new position in shares of Kenvue during the 4th quarter worth about $26,000. Physician Wealth Advisors Inc. lifted its stake in Kenvue by 67.5% in the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock valued at $26,000 after purchasing an additional 618 shares during the last quarter. MV Capital Management Inc. bought a new position in Kenvue during the fourth quarter worth about $28,000. Reflection Asset Management bought a new position in Kenvue during the fourth quarter worth about $32,000. Finally, SBI Securities Co. Ltd. increased its position in Kenvue by 82.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company’s stock worth $39,000 after buying an additional 1,027 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Trading Up 2.0%

Shares of KVUE stock opened at $18.77 on Thursday. The firm has a 50 day moving average price of $17.60 and a two-hundred day moving average price of $17.61. The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $36.05 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 1.40 and a beta of 0.54. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $22.87.

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

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a $0.2075 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $0.83 annualized dividend and a yield of 4.4%. Kenvue’s payout ratio is 97.65%.

Insider Buying and Selling

In other Kenvue news, General Counsel Matthew Orlando sold 38,491 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $17.66, for a total value 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.

Wall Street Analyst Weigh In

Several research firms have issued reports on KVUE. Argus upgraded Kenvue to a “hold” rating in a research note on Friday, March 6th. Weiss Ratings raised Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 15th. Barclays decreased their target price on Kenvue from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 14th. UBS Group cut their price target on Kenvue from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Finally, Citigroup reduced their price objective on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.33.

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.