Cetera Investment Advisers Trims Holdings in Kenvue Inc. $KVUE

Key Points

• Cetera Investment Advisers cut its Kenvue stake by 24.7% in the first quarter, selling 78,966 shares and retaining 241,189 shares valued at approximately $4.16 million. Institutional investors collectively own 97.64% of Kenvue.
• Kenvue exceeded quarterly expectations, reporting adjusted EPS of $0.32 versus the $0.27 consensus and revenue of $3.91 billion. Revenue increased 4.5% year over year.
• Kenvue declared a quarterly dividend of $0.21 per share, equivalent to an annualized yield of about 4.3%. Analysts maintain a consensus “Hold” rating with an average price target of $19.58, near the stock’s reported $19.54 price.

Cetera Investment Advisers reduced its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 24.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 241,189 shares of the company's stock after selling 78,966 shares during the quarter. Cetera Investment Advisers' holdings in Kenvue were worth $4,158,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of KVUE. Oak Thistle LLC purchased a new position in shares of Kenvue in the 4th quarter worth about $1,563,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Kenvue by 25.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 410,874 shares of the company's stock worth $7,088,000 after buying an additional 84,219 shares during the last quarter. Calamos Advisors LLC raised its holdings in Kenvue by 24.1% in the first quarter. Calamos Advisors LLC now owns 3,351,000 shares of the company's stock worth $57,771,000 after buying an additional 651,000 shares during the last quarter. State of Wyoming lifted its stake in shares of Kenvue by 233.5% in the fourth quarter. State of Wyoming now owns 97,992 shares of the company's stock worth $1,690,000 after buying an additional 68,609 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in shares of Kenvue by 21.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 3,491,548 shares of the company's stock valued at $60,229,000 after buying an additional 618,720 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Trading Up 2.8%

Shares of KVUE opened at $19.54 on Wednesday. The company has a current ratio of 0.98, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. The company has a market cap of $37.51 billion, a P/E ratio of 22.98, a P/E/G ratio of 1.44 and a beta of 0.47. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $22.22. The company's fifty day simple moving average is $18.66 and its 200-day simple moving average is $18.05.

Kenvue (NYSE:KVUE - Get Free Report) last released its 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. The firm had revenue of $3.91 billion for the quarter, compared to analysts' expectations of $3.84 billion. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.The company's quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. As a group, analysts expect that Kenvue Inc. will post 1.16 EPS for the current year.

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be paid a dividend of $0.21 per share. This is an increase from Kenvue's previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Wednesday, August 12th. Kenvue's payout ratio is presently 97.65%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Zacks Research cut shares of Kenvue from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, July 7th. Citigroup dropped their target price on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, April 15th. UBS Group increased their price target on Kenvue from $18.00 to $20.00 and gave the company a "neutral" rating in a report on Thursday, July 16th. Barclays upped their price objective on Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. Finally, Wall Street Zen raised Kenvue to a "buy" rating in a research report on Sunday, July 12th. Three equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Kenvue has a consensus rating of "Hold" and an average target price of $19.58.

Insider Activity at Kenvue

In other news, General Counsel Matthew Orlando sold 38,491 shares of the company's stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $17.66, for a total value of $679,751.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 1.59% of the company's stock.

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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