Corebridge Financial Inc. Trims Stock Holdings in Kenvue Inc. $KVUE

Key Points

• Corebridge Financial Inc. reduced its stake in Kenvue Inc. by 3.5%, holding 507,061 shares valued at $12.16 million.
• Kenvue reported earnings of $0.29 per share, beating estimates, but its revenue fell 4.0% year-over-year.
• The company announced an increase in its quarterly dividend to $0.2075, resulting in an annual yield of 4.0%.

Corebridge Financial Inc. decreased its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 3.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 507,061 shares of the company's stock after selling 18,541 shares during the quarter. Corebridge Financial Inc.'s holdings in Kenvue were worth $12,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Evergreen Wealth Solutions LLC lifted its position in Kenvue by 2.6% in the first quarter. Evergreen Wealth Solutions LLC now owns 16,769 shares of the company's stock valued at $402,000 after purchasing an additional 432 shares during the last quarter. Fulton Bank N.A. lifted its position in Kenvue by 0.6% in 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 last quarter. Scott & Selber Inc. lifted its position in Kenvue by 0.4% in the first quarter. Scott & Selber Inc. now owns 106,621 shares of the company's stock valued at $2,557,000 after purchasing an additional 475 shares during the last quarter. Wealth Alliance LLC lifted its position in Kenvue by 1.6% in the first quarter. Wealth Alliance LLC now owns 31,778 shares of the company's stock valued at $762,000 after purchasing an additional 486 shares during the last quarter. Finally, Everett Harris & Co. CA lifted its position in Kenvue by 1.4% in the first quarter. Everett Harris & Co. CA now owns 36,971 shares of the company's stock valued at $887,000 after purchasing an additional 500 shares during the last quarter. Institutional investors own 97.64% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Zacks Research upgraded Kenvue to a "strong sell" rating in a research report on Monday, August 11th. JPMorgan Chase & Co. lowered their price objective on Kenvue from $27.00 to $26.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. Citigroup lowered their price objective on Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Barclays lowered their price objective on Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Finally, Bank of America dropped their price target on Kenvue from $27.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $24.38.

Kenvue Trading Up 0.9%

KVUE stock traded up $0.18 on Monday, reaching $20.72. The company's stock had a trading volume of 10,307,391 shares, compared to its average volume of 17,119,262. The business has a fifty day simple moving average of $21.46 and a two-hundred day simple moving average of $22.45. Kenvue Inc. has a 12-month low of $19.75 and a 12-month high of $25.17. The firm has a market cap of $39.76 billion, a PE ratio of 27.99, a PEG ratio of 2.97 and a beta of 0.83. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.98.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. Kenvue had a return on equity of 20.06% and a net margin of 9.37%.The company had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter last year, the firm posted $0.32 earnings per share. The firm's revenue was down 4.0% on a year-over-year basis. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. As a group, research analysts forecast that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were paid a $0.2075 dividend. The ex-dividend date of this dividend was Wednesday, August 13th. This is a positive change from Kenvue's previous quarterly dividend of $0.21. This represents a $0.83 annualized dividend and a yield of 4.0%. Kenvue's payout ratio is currently 112.16%.

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.