Crestwood Advisors Group LLC Reduces Holdings in Kenvue Inc. $KVUE

Key Points

• Crestwood Advisors Group LLC sharply cut its Kenvue stake by 94.8% in the fourth quarter, selling 880,444 shares and leaving it with 48,333 shares worth about $834,000.
• Kenvue reported better-than-expected quarterly results, posting EPS of $0.32 versus the $0.27 estimate and revenue of $3.91 billion, up 4.5% year over year.
• The company declared a quarterly dividend of $0.2075 per share, implying an annualized yield of about 4.7%, though its payout ratio is high at 107.79%.

Crestwood Advisors Group LLC decreased its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 94.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 48,333 shares of the company's stock after selling 880,444 shares during the quarter. Crestwood Advisors Group LLC's holdings in Kenvue were worth $834,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Oak Family Advisors LLC purchased a new position in shares of Kenvue during the fourth quarter worth about $6,003,000. Sequoia Financial Advisors LLC grew its holdings in shares of Kenvue by 156.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 63,620 shares of the company's stock worth $1,097,000 after purchasing an additional 38,821 shares during the last quarter. Gateway Investment Advisers LLC purchased a new position in shares of Kenvue during the fourth quarter worth about $191,000. Praxis Investment Management Inc. grew its holdings in shares of Kenvue by 75.3% during the fourth quarter. Praxis Investment Management Inc. now owns 35,821 shares of the company's stock worth $618,000 after purchasing an additional 15,391 shares during the last quarter. Finally, Ponta Wealth Partners LLC purchased a new position in shares of Kenvue during the fourth quarter worth about $293,000. Hedge funds and other institutional investors own 97.64% of the company's stock.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $17.59 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.96 and a debt-to-equity ratio of 0.66. The company has a market cap of $33.76 billion, a P/E ratio of 20.69, a PEG ratio of 3.99 and a beta of 0.55. Kenvue Inc. has a 52 week low of $14.02 and a 52 week high of $24.61. The company has a 50-day moving average price of $17.65 and a 200 day moving average price of $17.24.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.76%. The firm's revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.24 earnings per share. Research analysts predict that Kenvue Inc. will post 1.16 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be given a $0.2075 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $0.83 dividend on an annualized basis and a yield of 4.7%. Kenvue's dividend payout ratio (DPR) is presently 107.79%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Barclays dropped their price objective on Kenvue from $19.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 14th. Weiss Ratings upgraded shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday. Jefferies Financial Group downgraded shares of Kenvue from a "buy" rating to a "hold" rating and decreased their target price for the stock from $23.00 to $18.00 in a research note on Friday, January 30th. Citigroup decreased their target price on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, April 15th. Finally, Canaccord Genuity Group increased their target price on shares of Kenvue from $17.00 to $18.00 and gave the stock a "hold" rating in a research note on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $19.33.

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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