224,557 Kenvue Inc. $KVUE Shares Sold by Vest Financial LLC

Key Points

• Vest Financial reduced its Kenvue stake by 8.0% in the third quarter, selling 224,557 shares and retaining 2.58 million shares valued at approximately $45.6 million. Institutional investors and hedge funds collectively own 97.64% of the company.
• Kenvue reported quarterly revenue of $3.96 billion, up 3.0% year over year, but earnings of $0.31 per share fell short of analysts’ $0.32 estimate. The company maintains a quarterly dividend of $0.21, equivalent to a 4.4% annualized yield.
• Analysts largely remain cautious, with a consensus “Hold” rating and an average price target of $18.43, below the reported share price of $19.05.

Vest Financial LLC cut its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 8.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,582,290 shares of the company's stock after selling 224,557 shares during the period. Vest Financial LLC owned 0.13% of Kenvue worth $45,603,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Johnson Financial Group Inc. bought a new position in Kenvue in the 2nd quarter worth approximately $26,000. GK Wealth Management LLC acquired a new position in Kenvue during the 3rd quarter worth $27,000. CoreCap Advisors LLC lifted its holdings in Kenvue by 64.9% during the 2nd quarter. CoreCap Advisors LLC now owns 1,502 shares of the company's stock worth $29,000 after buying an additional 591 shares in the last quarter. Bell Investment Advisors Inc bought a new position in Kenvue in the 2nd quarter valued at $35,000. Finally, Keating Financial Advisory Services Inc. bought a new position in Kenvue in the 2nd quarter valued at $38,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Trading Down 1.2%

Shares of NYSE KVUE opened at $19.05 on Thursday. The company's 50 day simple moving average is $18.33 and its 200 day simple moving average is $18.24. Kenvue Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $20.13. The firm has a market capitalization 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.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $3.97 billion. During the same period in the previous year, the business posted $0.29 earnings per share. Kenvue's revenue was up 3.0% compared to the same quarter last year. On average, analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Monday, September 21st were paid a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.4%. Kenvue's dividend payout ratio is 96.55%.

Analyst Upgrades and Downgrades

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

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