Cresset Asset Management LLC Sells 126,761 Shares of Kenvue Inc. $KVUE

Key Points

• Cresset Asset Management LLC reduced its stake in Kenvue Inc. by 33.7%, selling 126,761 shares and leaving it with 249,221 shares valued at approximately $5.98 million.
• Kenvue announced a quarterly dividend increase to $0.2075 per share, translating to an annual yield of 3.9% and a payout ratio of 112.16%.
• In its latest quarterly earnings, Kenvue reported $0.29 earnings per share, slightly above analyst expectations, despite a 4% decline in year-over-year revenue.

Cresset Asset Management LLC lowered its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 33.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 249,221 shares of the company's stock after selling 126,761 shares during the period. Cresset Asset Management LLC's holdings in Kenvue were worth $5,976,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pittenger & Anderson Inc. bought a new position in Kenvue during the 1st quarter valued at about $30,000. TruNorth Capital Management LLC purchased a new position in shares of Kenvue in the first quarter worth approximately $36,000. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Kenvue by 378.5% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,627 shares of the company's stock worth $39,000 after buying an additional 1,287 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of Kenvue by 120.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock worth $41,000 after buying an additional 929 shares during the last quarter. Finally, Continuum Advisory LLC boosted its holdings in shares of Kenvue by 2,071.1% in the first quarter. Continuum Advisory LLC now owns 1,954 shares of the company's stock worth $47,000 after buying an additional 1,864 shares during the last quarter. Institutional investors own 97.64% of the company's stock.

Kenvue Trading Up 0.4%

Shares of KVUE opened at $21.15 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.68. Kenvue Inc. has a 1 year low of $19.75 and a 1 year high of $25.17. The company has a 50 day simple moving average of $21.54 and a two-hundred day simple moving average of $22.43. The firm has a market cap of $40.59 billion, a P/E ratio of 28.58, a price-to-earnings-growth ratio of 3.05 and a beta of 0.83.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. Kenvue had a net margin of 9.37% and a return on equity of 20.06%. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period last year, the firm posted $0.32 EPS. The company's revenue was down 4.0% on a year-over-year basis. On average, equities analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.2075 per share. This is an increase from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date of this dividend 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 112.16%.

Analyst Upgrades and Downgrades

KVUE has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price objective on shares of Kenvue from $27.00 to $26.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Barclays dropped their price objective on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Zacks Research raised shares of Kenvue to a "strong sell" rating in a report on Monday, August 11th. UBS Group dropped their price objective on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Finally, Citigroup dropped their price objective on shares of Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, Kenvue has a consensus rating of "Hold" and an average target price of $24.38.

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.

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