Vest Financial LLC Sells 224,557 Shares of Kenvue Inc. $KVUE

Vest Financial LLC cut its stake in Kenvue Inc. (NYSE:KVUE) by 8.0% in the third quarter, HoldingsChannel.com reports. The fund owned 2,582,290 shares of the company’s stock after selling 224,557 shares during the period. Vest Financial LLC’s holdings in Kenvue were worth $45,603,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. bought a new position in Kenvue during the 2nd quarter worth approximately $2,882,279,000. Pentwater Capital Management LP acquired a new position in Kenvue during the second quarter valued at approximately $977,094,000. HBK Investments L P grew its holdings in Kenvue by 33.3% during the second quarter. HBK Investments L P now owns 28,000,001 shares of the company’s stock valued at $535,080,000 after purchasing an additional 7,000,000 shares during the period. Dimensional Fund Advisors LP increased its stake in Kenvue by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 22,270,175 shares of the company’s stock valued at $383,938,000 after purchasing an additional 196,981 shares in the last quarter. Finally, Amundi increased its stake in Kenvue by 41.2% in the second quarter. Amundi now owns 18,483,326 shares of the company’s stock valued at $353,216,000 after purchasing an additional 5,392,413 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Trading Down 1.2%

NYSE KVUE opened at $19.05 on Thursday. The firm has a market cap of $36.58 billion, a P/E ratio of 16.34, a P/E/G ratio of 1.77 and a beta of 0.48. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 0.71. The stock’s 50-day moving average is $18.33 and its 200-day moving average is $18.24. Kenvue Inc. has a one year low of $14.02 and a one year high of $20.13.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The business had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.97 billion. During the same quarter last year, the firm earned $0.29 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Sell-side analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Shareholders of record on Monday, September 21st were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, September 21st. Kenvue’s dividend payout ratio (DPR) is 96.55%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KVUE. Wall Street Zen lowered shares of Kenvue from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Kenvue in a report on Friday, September 11th. UBS Group decreased their price target on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Tuesday, August 11th. Zacks Research cut shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Finally, Barclays raised their price objective on Kenvue from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 21st. Ten equities research analysts have rated the stock with a Hold rating. According to MarketBeat, Kenvue presently has a consensus rating of “Hold” and an average price target of $18.43.

Kenvue Profile

Kenvue Inc is a consumer health company that develops, markets and sells products designed to support everyday health and personal care. Its portfolio spans over-the-counter medicines, skin health and beauty, and essential health products, serving consumers through retail, e-commerce and other distribution channels.

The company’s brands include Tylenol, Motrin, Zyrtec and Benadryl in self-care; Neutrogena, Aveeno and Clean & Clear in skin health and beauty; and Listerine, Johnson’s and OGX in oral care, baby care and hair care.