Amundi Sells 2,791,015 Shares of Kenvue Inc. $KVUE

Key Points

• Amundi reduced its Kenvue stake by 17.6%, selling 2.79 million shares in the first quarter and retaining 13.09 million shares worth approximately $225.7 million. Institutional investors collectively own 97.64% of KVUE.
• Kenvue reported stronger-than-expected quarterly results, with earnings of $0.32 per share and revenue of $3.91 billion, up 4.5% year over year.
• The company declared an annualized dividend of $0.84 per share, yielding about 4.4%, while analysts maintain a consensus “Hold” rating with an average price target of $19.58.

Amundi trimmed its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 17.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,090,913 shares of the company's stock after selling 2,791,015 shares during the quarter. Amundi owned 0.68% of Kenvue worth $225,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in KVUE. EverSource Wealth Advisors LLC lifted its holdings in Kenvue by 94.6% during the first quarter. EverSource Wealth Advisors LLC now owns 24,245 shares of the company's stock worth $418,000 after acquiring an additional 11,788 shares during the period. Readystate Asset Management LP grew its stake in Kenvue by 76.8% in the 1st quarter. Readystate Asset Management LP now owns 1,057,316 shares of the company's stock valued at $18,228,000 after purchasing an additional 459,192 shares during the period. Royal Bank of Canada grew its stake in Kenvue by 78.6% in the 1st quarter. Royal Bank of Canada now owns 8,979,296 shares of the company's stock valued at $154,802,000 after purchasing an additional 3,952,444 shares during the period. Empowered Funds LLC increased its position in shares of Kenvue by 7.9% during the 1st quarter. Empowered Funds LLC now owns 171,972 shares of the company's stock valued at $2,965,000 after purchasing an additional 12,527 shares during the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in shares of Kenvue during the 1st quarter valued at $1,586,000. Institutional investors own 97.64% of the company's stock.

Insider Buying and Selling

In other news, General Counsel Matthew Orlando sold 38,491 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $17.66, for a total value of $679,751.06. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.59% of the stock is currently owned by corporate insiders.

Kenvue Price Performance

KVUE stock opened at $19.27 on Friday. The firm has a 50 day moving average of $18.56 and a 200-day moving average of $18.00. The company has a current ratio of 0.98, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. Kenvue Inc. has a 12 month low of $14.02 and a 12 month high of $22.28. The firm has a market capitalization of $37.00 billion, a P/E ratio of 22.67, a price-to-earnings-growth ratio of 1.50 and a beta of 0.47.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.05. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The firm had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same period in the previous year, the business earned $0.24 EPS. The business's revenue for the quarter was up 4.5% on a year-over-year basis. As a group, sell-side analysts predict that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, August 12th. This represents a $0.84 dividend on an annualized basis and a yield of 4.4%. This is a boost from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio is presently 97.65%.

Analyst Ratings Changes

A number of research firms have recently commented on KVUE. Barclays lifted their target price on Kenvue from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded shares of Kenvue to a "buy" rating in a research note on Sunday, July 12th. Zacks Research lowered Kenvue from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Citigroup cut their price target on Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, April 15th. Finally, Weiss Ratings raised Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 15th. Three equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $19.58.

Kenvue Company Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.

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