Northeast Investment Management Sells 36,041 Shares of Kenvue Inc. (NYSE:KVUE)

Northeast Investment Management lowered its stake in shares of Kenvue Inc. (NYSE:KVUE) by 27.0% during the third quarter, HoldingsChannel reports. The firm owned 97,454 shares of the company’s stock after selling 36,041 shares during the quarter. Northeast Investment Management’s holdings in Kenvue were worth $2,254,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Manchester Capital Management LLC raised its stake in shares of Kenvue by 80.8% during the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after purchasing an additional 530 shares in the last quarter. Riverview Trust Co bought a new stake in Kenvue in the 3rd quarter valued at $30,000. Salomon & Ludwin LLC bought a new stake in Kenvue in the 1st quarter valued at $33,000. Studio Investment Management LLC raised its stake in Kenvue by 52.1% in the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after acquiring an additional 845 shares during the period. Finally, AlphaMark Advisors LLC bought a new stake in Kenvue in the 3rd quarter valued at $77,000. Institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

Kenvue stock opened at $22.73 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $43.53 billion, a PE ratio of 39.19, a P/E/G ratio of 3.00 and a beta of 1.35. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $23.55. The stock has a 50-day moving average price of $22.53 and a two-hundred day moving average price of $20.42.

Kenvue (NYSE:KVUE) last posted its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.28 by $0.04. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the company earned $0.32 earnings per share. Analysts expect that Kenvue Inc. will post 1.08 EPS for the current year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $0.205 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.61%. Kenvue’s dividend payout ratio is presently 141.38%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KVUE. Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target on the stock. in a research note on Tuesday, September 24th. JPMorgan Chase & Co. increased their price target on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Jefferies Financial Group began coverage on Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target on the stock. Citigroup dropped their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, UBS Group increased their price target on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and an average target price of $22.64.

Kenvue 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.