DoubleLine ETF Adviser LP Trims Stock Holdings in Kenvue Inc. $KVUE

Key Points

• DoubleLine ETF Adviser LP has reduced its stake in Kenvue Inc. by 18.6%, now holding 86,847 shares valued at approximately $2.08 million.
• Kenvue has reported a quarterly earnings per share (EPS) of $0.29, surpassing analysts' expectations of $0.28, despite a 4% year-over-year decline in revenue.
• The company increased its quarterly dividend to $0.2075 per share, yielding about 4.1%, although the payout ratio currently stands at 112.16%.

DoubleLine ETF Adviser LP lowered its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 18.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,847 shares of the company's stock after selling 19,863 shares during the period. DoubleLine ETF Adviser LP's holdings in Kenvue were worth $2,083,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. increased its position in Kenvue by 4.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 106,140 shares of the company's stock worth $2,545,000 after buying an additional 4,034 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Kenvue by 25.3% in the first quarter. IFP Advisors Inc now owns 15,278 shares of the company's stock valued at $369,000 after acquiring an additional 3,081 shares during the last quarter. Starboard Value LP bought a new position in shares of Kenvue in the fourth quarter valued at approximately $467,864,000. Vident Advisory LLC bought a new position in Kenvue in the 1st quarter worth approximately $520,000. Finally, Kingswood Wealth Advisors LLC acquired a new stake in Kenvue during the 1st quarter worth $413,000. Hedge funds and other institutional investors own 97.64% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on KVUE. Canaccord Genuity Group reduced their target price on shares of Kenvue from $29.00 to $26.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Evercore ISI cut their target price on shares of Kenvue from $25.00 to $23.00 and set an "in-line" rating on the stock in a research report on Monday. Bank of America lowered their target price on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. Zacks Research raised shares of Kenvue to a "strong sell" rating in a research report on Monday, August 11th. Finally, Barclays dropped their target price on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $24.21.

Kenvue Price Performance

NYSE:KVUE traded up $0.42 during trading hours on Tuesday, hitting $18.85. 21,486,272 shares of the stock traded hands, compared to its average volume of 18,182,525. The stock has a 50 day moving average price of $21.32 and a 200 day moving average price of $22.35. Kenvue Inc. has a 1 year low of $17.15 and a 1 year high of $25.17. The company has a market cap of $36.17 billion, a price-to-earnings ratio of 25.48, a price-to-earnings-growth ratio of 2.67 and a beta of 0.83. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE - Get Free Report) last posted 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. The firm had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.94 billion. Kenvue had a net margin of 9.37% and a return on equity of 20.06%. The business's revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. Sell-side analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th were issued a dividend of $0.2075 per share. The ex-dividend date was Wednesday, August 13th. This represents a $0.83 annualized dividend and a dividend yield of 4.4%. This is a boost from Kenvue's previous quarterly dividend of $0.21. Kenvue's payout ratio is presently 112.16%.

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.