Blair William & Co. IL Lowers Stock Position in Kenvue Inc. (NYSE:KVUE)

Key Points

• Blair William & Co. IL has reduced its stake in Kenvue Inc. by 9.8%, owning 175,299 shares valued at approximately $4.2 million after selling 18,951 shares in Q1.
• Kenvue reported a net revenue of $3.74 billion for the last quarter, down 3.9% year-over-year, and earnings per share of $0.24, slightly exceeding analysts' expectations.
• The company increased its quarterly dividend from $0.21 to $0.2075, representing an annual yield of 3.9% with a current payout ratio of 149.09%.

Blair William & Co. IL reduced its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,299 shares of the company's stock after selling 18,951 shares during the quarter. Blair William & Co. IL's holdings in Kenvue were worth $4,204,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Pittenger & Anderson Inc. purchased a new stake in shares of Kenvue during the first quarter worth approximately $30,000. TruNorth Capital Management LLC acquired a new position in Kenvue during the 1st quarter worth approximately $36,000. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Kenvue by 120.6% in the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock valued at $41,000 after purchasing an additional 929 shares during the last quarter. Clarity Asset Management Inc. acquired a new stake in shares of Kenvue in the 4th quarter valued at $45,000. Finally, Continuum Advisory LLC raised its holdings in shares of Kenvue by 2,071.1% in the 1st quarter. Continuum Advisory LLC now owns 1,954 shares of the company's stock valued at $47,000 after purchasing an additional 1,864 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Stock Performance

NYSE:KVUE traded down $0.39 during trading hours on Friday, reaching $21.37. 25,925,024 shares of the company's stock were exchanged, compared to its average volume of 17,645,215. Kenvue Inc. has a 1-year low of $19.75 and a 1-year high of $25.17. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $41.00 billion, a price-to-earnings ratio of 38.86, a P/E/G ratio of 3.59 and a beta of 0.83. The company has a 50-day moving average of $21.62 and a 200 day moving average of $22.40.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. The firm had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.94 billion. Kenvue had a return on equity of 20.87% and a net margin of 6.90%. The business's revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the company posted $0.32 earnings per share. Research analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be given a $0.2075 dividend. This is a positive change from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, August 13th. This represents a $0.83 dividend on an annualized basis and a yield of 3.9%. Kenvue's payout ratio is 149.09%.

Wall Street Analyst Weigh In

KVUE has been the topic of several recent analyst reports. 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 report on Tuesday, July 15th. Citigroup dropped their price objective on Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Canaccord Genuity Group decreased their target price on Kenvue from $29.00 to $26.00 and set a "buy" rating for the company in a research note on Friday. Royal Bank Of Canada dropped their price target on shares of Kenvue from $24.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Friday. Finally, Barclays reduced their price objective on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $24.38.

Kenvue 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.