Kenvue Inc. (NYSE:KVUE) Stock Position Cut by NorthRock Partners LLC

NorthRock Partners LLC trimmed its stake in shares of Kenvue Inc. (NYSE:KVUE) by 23.5% during the third quarter, Holdings Channel reports. The institutional investor owned 11,792 shares of the company’s stock after selling 3,627 shares during the period. NorthRock Partners LLC’s holdings in Kenvue were worth $273,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Yacktman Asset Management LP lifted its position in Kenvue by 2.9% in the third quarter. Yacktman Asset Management LP now owns 8,381,404 shares of the company’s stock worth $193,862,000 after purchasing an additional 232,631 shares during the period. National Pension Service lifted its holdings in shares of Kenvue by 14.5% in the third quarter. National Pension Service now owns 2,829,772 shares of the company’s stock valued at $65,453,000 after buying an additional 357,672 shares during the period. Cohen Capital Management Inc. boosted its stake in Kenvue by 1.6% during the third quarter. Cohen Capital Management Inc. now owns 168,193 shares of the company’s stock valued at $3,890,000 after buying an additional 2,640 shares in the last quarter. CORDA Investment Management LLC. grew its holdings in Kenvue by 1.3% during the third quarter. CORDA Investment Management LLC. now owns 1,235,630 shares of the company’s stock worth $28,580,000 after acquiring an additional 16,270 shares during the period. Finally, Allen Wealth Management LLC raised its position in Kenvue by 14.4% in the third quarter. Allen Wealth Management LLC now owns 76,558 shares of the company’s stock worth $1,771,000 after acquiring an additional 9,618 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Price Performance

Shares of KVUE opened at $22.50 on Thursday. The business’s 50-day moving average is $22.59 and its 200-day moving average is $20.49. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. The company has a market capitalization of $43.09 billion, a price-to-earnings ratio of 38.79, a P/E/G ratio of 3.01 and a beta of 1.36. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $23.57.

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

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio is currently 141.38%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. UBS Group raised their price objective on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Piper Sandler boosted their target price on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, Bank of America increased their price target on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.