Kenvue Inc. (NYSE:KVUE) Stock Position Lowered by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its position in Kenvue Inc. (NYSE:KVUE) by 1.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,341,434 shares of the company’s stock after selling 16,347 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.07% of Kenvue worth $31,027,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Saturna Capital Corp increased its stake in shares of Kenvue by 29.9% during the 3rd quarter. Saturna Capital Corp now owns 1,334,860 shares of the company’s stock worth $30,875,000 after purchasing an additional 307,039 shares during the last quarter. Haverford Trust Co increased its stake in shares of Kenvue by 0.5% during the 3rd quarter. Haverford Trust Co now owns 441,153 shares of the company’s stock worth $10,204,000 after purchasing an additional 2,128 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Kenvue by 66.2% during the 3rd quarter. Victory Capital Management Inc. now owns 1,328,074 shares of the company’s stock worth $30,718,000 after purchasing an additional 528,849 shares during the last quarter. Winslow Asset Management Inc. increased its stake in shares of Kenvue by 1.1% during the 3rd quarter. Winslow Asset Management Inc. now owns 154,929 shares of the company’s stock worth $3,584,000 after purchasing an additional 1,657 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Kenvue by 13.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,800,461 shares of the company’s stock worth $111,035,000 after purchasing an additional 583,887 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

Shares of NYSE:KVUE traded down $0.12 during midday trading on Wednesday, reaching $23.53. 562,369 shares of the company’s stock were exchanged, compared to its average volume of 18,007,656. The company’s 50 day simple moving average is $22.68 and its two-hundred day simple moving average is $20.58. The firm has a market capitalization of $45.11 billion, a PE ratio of 43.00, a price-to-earnings-growth ratio of 3.08 and a beta of 1.36. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $23.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period last year, the firm earned $0.31 EPS. Equities research analysts expect that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently disclosed 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. This represents a $0.82 annualized dividend and a yield of 3.48%. The ex-dividend date is Wednesday, November 13th. Kenvue’s payout ratio is presently 149.09%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on KVUE shares. Royal Bank of Canada lowered shares of 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. UBS Group raised their target price on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Piper Sandler raised their target price on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group assumed coverage on shares of Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kenvue presently has a consensus rating of “Hold” and an average price target of $22.64.

Kenvue Company 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.