2,586,120 Kenvue Inc. $KVUE Shares Sold by M&G PLC

Key Points

• M&G PLC sold 2,586,120 Kenvue shares in the third quarter, cutting its stake by 79.5% to 665,530 shares, valued at about $12 million.
• Kenvue reported quarterly EPS of $0.29, in line with forecasts, while revenue of $3.89 billion topped estimates and grew 3.2% year over year.
• Analysts collectively rate Kenvue a Hold, with an average price target of $19.29; its quarterly dividend annualizes to $0.84 per share, a 4.4% yield.

M&G PLC reduced its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 79.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 665,530 shares of the company's stock after selling 2,586,120 shares during the period. M&G PLC's holdings in Kenvue were worth $11,980,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Allspring Global Investments Holdings LLC increased its position in Kenvue by 5.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 92,926 shares of the company's stock worth $1,600,000 after purchasing an additional 4,578 shares during the last quarter. StoneRidge PMG Advisors LLC bought a new stake in Kenvue during the third quarter worth approximately $417,000. Candriam S.C.A. boosted its position in Kenvue by 9.4% during the third quarter. Candriam S.C.A. now owns 147,397 shares of the company's stock worth $2,613,000 after purchasing an additional 12,661 shares during the period. StoneX Group Inc. bought a new position in shares of Kenvue in the third quarter valued at approximately $420,000. Finally, Pictet Asset Management Holding SA lifted its stake in shares of Kenvue by 2.9% in the third quarter. Pictet Asset Management Holding SA now owns 1,145,115 shares of the company's stock worth $20,223,000 after buying an additional 31,842 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Stock Performance

Shares of NYSE KVUE opened at $19.31 on Wednesday. Kenvue Inc. has a 12 month low of $14.06 and a 12 month high of $20.13. The company has a market cap of $37.09 billion, a P/E ratio of 21.94, a P/E/G ratio of 1.77 and a beta of 0.48. The business's 50 day moving average is $18.42 and its two-hundred day moving average is $18.26. The company has a quick ratio of 0.71, a current ratio of 1.01 and a debt-to-equity ratio of 0.67.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings data on Friday, October 30th. The company reported $0.29 earnings per share for the quarter, meeting the consensus estimate of $0.29. The company had revenue of $3.89 billion during the quarter, compared to analysts' expectations of $3.86 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%. Kenvue's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 earnings per share. On average, equities analysts expect that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Monday, September 21st were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 4.4%. The ex-dividend date was Monday, September 21st. Kenvue's dividend payout ratio is presently 95.45%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of Kenvue in a research note on Friday, September 11th. HSBC cut their target price on shares of Kenvue from $20.00 to $19.00 and set a "hold" rating for the company in a research report on Monday, August 10th. Wall Street Zen cut shares of Kenvue from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Barclays upped their price target on shares of Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Tuesday, July 21st. Finally, UBS Group raised their price target on Kenvue from $19.00 to $20.00 and gave the company a "neutral" rating in a research report on Monday, November 2nd. Ten research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $19.29.

Kenvue Profile

Kenvue Inc. is a consumer health company that develops and sells products for everyday health and personal care. Its portfolio includes over-the-counter medicines, skin and hair care, oral care, wound care, and baby care products. Its well-known brands include Tylenol, Neutrogena, Aveeno, Listerine, Band-Aid, Johnson's, and Zyrtec. Kenvue organizes its business around Self Care, Skin Health and Beauty, and Essential Health. The company became an independent business in 2023 after Johnson & Johnson completed the separation of its consumer health business.

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