Burgundy Asset Management Ltd. Decreases Holdings in Kenvue Inc. (NYSE:KVUE)

Burgundy Asset Management Ltd. lowered its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 9.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,022,414 shares of the company's stock after selling 598,451 shares during the period. Burgundy Asset Management Ltd. owned 0.31% of Kenvue worth $128,579,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Merit Financial Group LLC acquired a new position in shares of Kenvue during the 4th quarter valued at $237,000. HB Wealth Management LLC raised its holdings in shares of Kenvue by 41.9% in the fourth quarter. HB Wealth Management LLC now owns 18,088 shares of the company's stock valued at $386,000 after purchasing an additional 5,343 shares during the last quarter. UMB Bank n.a. grew its position in Kenvue by 184.3% in the 4th quarter. UMB Bank n.a. now owns 3,651 shares of the company's stock worth $78,000 after purchasing an additional 2,367 shares in the last quarter. LaFleur & Godfrey LLC lifted its holdings in Kenvue by 29.8% during the fourth quarter. LaFleur & Godfrey LLC now owns 81,300 shares of the company's stock worth $1,736,000 after acquiring an additional 18,650 shares during the period. Finally, Atomi Financial Group Inc. raised its stake in shares of Kenvue by 28.1% during the 4th quarter. Atomi Financial Group Inc. now owns 11,730 shares of the company's stock worth $250,000 after purchasing an additional 2,571 shares during the period. 97.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Evercore ISI assumed coverage on shares of Kenvue in a research report on Monday, March 24th. They issued an "in-line" rating and a $25.00 price objective on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $24.00 price target on shares of Kenvue in a report on Monday, February 3rd. Citigroup upped their price objective on Kenvue from $22.00 to $24.50 and gave the company a "neutral" rating in a research note on Friday, May 9th. UBS Group raised their target price on Kenvue from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Finally, Canaccord Genuity Group upped their price target on Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Kenvue currently has a consensus rating of "Hold" and a consensus target price of $25.33.

Kenvue Price Performance

NYSE KVUE traded down $0.38 during trading on Wednesday, reaching $23.56. The company's stock had a trading volume of 3,617,584 shares, compared to its average volume of 16,301,271. The stock has a market capitalization of $45.19 billion, a PE ratio of 44.45, a P/E/G ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The firm has a fifty day moving average of $23.25 and a 200 day moving average of $22.63. Kenvue Inc. has a one year low of $17.67 and a one year high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the firm posted $0.28 earnings per share. Kenvue's quarterly revenue was down 3.9% on a year-over-year basis. Analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date is Wednesday, May 14th. Kenvue's dividend payout ratio is currently 149.09%.

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.