Avidity Partners Management LP Sells 132,800 Shares of Kenvue Inc. $KVUE

Key Points

• Avidity Partners Management LP cut its Kenvue stake by 57%, selling 132,800 shares in the first quarter and retaining 100,000 shares valued at approximately $1.72 million. Institutional investors collectively own 97.64% of Kenvue.
• Kenvue exceeded first-quarter expectations, reporting EPS of $0.32 versus the $0.27 consensus and revenue of $3.91 billion, up 4.5% year over year.
• The company’s quarterly dividend remains $0.21 per share, representing an annualized payout of $0.84 and a 4.4% yield. Analysts maintain a consensus “Hold” rating with an average price target of $19.58.

Avidity Partners Management LP lessened its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 57.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 100,000 shares of the company's stock after selling 132,800 shares during the period. Kenvue comprises 0.3% of Avidity Partners Management LP's holdings, making the stock its 29th biggest position. Avidity Partners Management LP's holdings in Kenvue were worth $1,724,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KVUE. Physician Wealth Advisors Inc. boosted its holdings in shares of Kenvue by 67.5% in the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock valued at $26,000 after buying an additional 618 shares in the last quarter. Elyxium Wealth LLC purchased a new position in shares of Kenvue in the 4th quarter worth approximately $26,000. MV Capital Management Inc. bought a new position in shares of Kenvue during the 4th quarter worth approximately $28,000. Reflection Asset Management bought a new position in shares of Kenvue during the 4th quarter worth approximately $32,000. Finally, SBI Securities Co. Ltd. lifted its position in Kenvue by 82.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company's stock valued at $39,000 after acquiring an additional 1,027 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Kenvue Price Performance

Shares of NYSE KVUE opened at $19.25 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.70 and a current ratio of 0.98. The firm has a fifty day moving average of $18.59 and a 200 day moving average of $18.01. The firm has a market cap of $36.95 billion, a PE ratio of 22.64, a PEG ratio of 1.47 and a beta of 0.47. Kenvue Inc. has a one year low of $14.02 and a one year high of $22.28.

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

Kenvue Increases Dividend

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

Insider Transactions at Kenvue

In other news, General Counsel Matthew Orlando sold 38,491 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $17.66, for a total transaction of $679,751.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.59% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on KVUE. UBS Group increased their price target on Kenvue from $18.00 to $20.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Barclays upped their price objective 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. Wall Street Zen raised shares of Kenvue to a "buy" rating in a research report on Sunday, July 12th. Citigroup lowered their target price on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, April 15th. Finally, Zacks Research downgraded shares of Kenvue from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. 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 company has a consensus rating of "Hold" and an average price target of $19.58.

About Kenvue

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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