Ameriprise Financial Inc. Sells 166,652 Shares of Kenvue Inc. $KVUE

Key Points

• Ameriprise Financial Inc. has reduced its stake in Kenvue Inc. by 3.3%, selling 166,652 shares and maintaining 4,843,730 shares, valued at approximately $116.15 million.
• Multiple institutional investors have adjusted their positions in Kenvue, with 97.64% of the stock now owned by institutional investors and hedge funds.
• Kenvue recently announced a quarterly dividend increase to $0.2075 per share, with an annualized yield of 3.8%, despite a decline in quarterly revenue year-over-year.

Ameriprise Financial Inc. lessened its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 3.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,843,730 shares of the company's stock after selling 166,652 shares during the period. Ameriprise Financial Inc. owned approximately 0.25% of Kenvue worth $116,153,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of KVUE. Pittenger & Anderson Inc. acquired a new stake in Kenvue during the 1st quarter worth approximately $30,000. TruNorth Capital Management LLC bought a new stake in shares of Kenvue during the first quarter worth $36,000. Clal Insurance Enterprises Holdings Ltd raised its holdings in shares of Kenvue by 378.5% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,627 shares of the company's stock worth $39,000 after acquiring an additional 1,287 shares during the period. Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Kenvue by 120.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock worth $41,000 after acquiring an additional 929 shares during the period. Finally, Clarity Asset Management Inc. bought a new stake in Kenvue in the 4th quarter valued at $45,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. lowered their target price on Kenvue from $27.00 to $26.00 and set an "overweight" rating for the company in a report on Friday, July 25th. Citigroup reduced their price objective on Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Bank of America dropped their target price on Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Canaccord Genuity Group cut their target price on Kenvue from $29.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Finally, Zacks Research raised Kenvue to a "strong sell" rating in a research report on Monday, August 11th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $24.38.

Kenvue Stock Performance

KVUE opened at $21.5950 on Monday. The business's 50-day simple moving average is $21.52 and its 200 day simple moving average is $22.45. Kenvue Inc. has a 52-week low of $19.75 and a 52-week high of $25.17. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.98. The firm has a market capitalization of $41.44 billion, a PE ratio of 29.18, a PEG ratio of 3.10 and a beta of 0.83.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Kenvue had a return on equity of 20.06% and a net margin of 9.37%.The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the previous year, the firm earned $0.32 EPS. The business's quarterly revenue was down 4.0% on a year-over-year basis. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. As a group, sell-side analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be issued a dividend of $0.2075 per share. The ex-dividend date is Wednesday, August 13th. This is a positive change from Kenvue's previous quarterly dividend of $0.21. This represents a $0.83 dividend on an annualized basis and a yield of 3.8%. Kenvue's dividend payout ratio is presently 112.16%.

About Kenvue

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.

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