Rockefeller Capital Management L.P. Lowers Holdings in Kenvue Inc. (NYSE:KVUE)

Rockefeller Capital Management L.P. decreased its holdings in Kenvue Inc. (NYSE:KVUE) by 17.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 175,858 shares of the company’s stock after selling 35,964 shares during the period. Rockefeller Capital Management L.P.’s holdings in Kenvue were worth $4,061,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Huntington National Bank grew its holdings in shares of Kenvue by 26.5% during the 3rd quarter. Huntington National Bank now owns 4,161 shares of the company’s stock worth $96,000 after purchasing an additional 871 shares during the period. ING Groep NV grew its holdings in shares of Kenvue by 23.6% during the 3rd quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock worth $82,727,000 after purchasing an additional 681,954 shares during the period. Lorne Steinberg Wealth Management Inc. grew its holdings in shares of Kenvue by 59.0% during the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company’s stock worth $2,812,000 after purchasing an additional 57,375 shares during the period. Kennon Green & Company LLC grew its holdings in shares of Kenvue by 140.7% during the 2nd quarter. Kennon Green & Company LLC now owns 159,106 shares of the company’s stock worth $2,893,000 after purchasing an additional 93,008 shares during the period. Finally, Czech National Bank grew its holdings in shares of Kenvue by 20.3% during the 2nd quarter. Czech National Bank now owns 364,886 shares of the company’s stock worth $6,634,000 after purchasing an additional 61,635 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of KVUE opened at $23.15 on Friday. The business’s 50 day moving average is $22.97 and its two-hundred day moving average is $21.07. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46. The firm has a market cap of $44.37 billion, a price-to-earnings ratio of 42.08, a PEG ratio of 2.13 and a beta of 1.36. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The business had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the business earned $0.31 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. Analysts forecast that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.54%. Kenvue’s dividend payout ratio (DPR) is 149.09%.

Analysts Set New Price Targets

KVUE has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Bank of America boosted their price target on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group assumed coverage on Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target on the stock. Royal Bank of Canada lowered Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target on the stock. in a research report on Tuesday, September 24th. Finally, Piper Sandler boosted their price target on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.