Bessemer Group Inc. Sells 79,922 Shares of Kenvue Inc. (NYSE:KVUE)

Bessemer Group Inc. cut its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,361,176 shares of the company's stock after selling 79,922 shares during the quarter. Bessemer Group Inc. owned approximately 0.12% of Kenvue worth $56,620,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in KVUE. Fulton Bank N.A. grew its holdings in Kenvue by 0.6% during the first quarter. Fulton Bank N.A. now owns 78,888 shares of the company's stock valued at $1,892,000 after purchasing an additional 465 shares during the period. SRS Capital Advisors Inc. increased its holdings in shares of Kenvue by 67.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock worth $30,000 after buying an additional 571 shares during the last quarter. Keystone Financial Group raised its position in Kenvue by 4.8% during the fourth quarter. Keystone Financial Group now owns 12,736 shares of the company's stock valued at $272,000 after purchasing an additional 578 shares in the last quarter. Transatlantique Private Wealth LLC lifted its position in Kenvue by 5.7% in the 4th quarter. Transatlantique Private Wealth LLC now owns 10,680 shares of the company's stock worth $228,000 after buying an additional 580 shares during the last quarter. Finally, Sound View Wealth Advisors Group LLC boosted its stake in shares of Kenvue by 6.3% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 9,985 shares of the company's stock valued at $213,000 after purchasing an additional 590 shares in the last quarter. Institutional investors own 97.64% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on KVUE shares. Evercore ISI started coverage on Kenvue in a report on Monday, March 24th. They issued an "in-line" rating and a $25.00 price objective for the company. Canaccord Genuity Group raised their price target on Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Citigroup reaffirmed a "neutral" rating on shares of Kenvue in a research report on Friday, June 13th. Barclays lifted their price target on shares of Kenvue from $22.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Finally, Redburn Atlantic started coverage on shares of Kenvue in a research report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price target on the stock. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $25.33.

Kenvue Trading Down 0.3%

KVUE stock traded down $0.06 during midday trading on Thursday, hitting $21.12. The stock had a trading volume of 16,339,221 shares, compared to its average volume of 16,245,608. The company's 50-day moving average price is $22.90 and its 200 day moving average price is $22.38. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $25.17. The firm has a market cap of $40.51 billion, a PE ratio of 38.39, a price-to-earnings-growth ratio of 3.29 and a beta of 0.98. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.60.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter last year, the company earned $0.28 earnings per share. Kenvue's revenue for the quarter was down 3.9% on a year-over-year basis. On average, equities research analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were paid a $0.205 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.88%. Kenvue's dividend payout ratio is currently 149.09%.

Kenvue Company Profile

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.