Envestnet Portfolio Solutions Inc. Sells 188,922 Shares of Kenvue Inc. (NYSE:KVUE)

Envestnet Portfolio Solutions Inc. cut its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 38.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 299,336 shares of the company's stock after selling 188,922 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Kenvue were worth $7,178,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Global X Japan Co. Ltd. raised its position in Kenvue by 120.3% in the first quarter. Global X Japan Co. Ltd. now owns 52,473 shares of the company's stock worth $1,199,000 after purchasing an additional 28,651 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of Kenvue by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 224,500 shares of the company's stock valued at $5,383,000 after purchasing an additional 5,915 shares in the last quarter. CWA Asset Management Group LLC raised its position in Kenvue by 10.8% in the 1st quarter. CWA Asset Management Group LLC now owns 13,841 shares of the company's stock worth $332,000 after purchasing an additional 1,349 shares during the last quarter. Kingswood Wealth Advisors LLC acquired a new position in Kenvue during the 1st quarter worth $413,000. Finally, Clarius Group LLC bought a new position in Kenvue in the 1st quarter valued at $217,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KVUE has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their target price on Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Barclays boosted their price objective on Kenvue from $22.00 to $23.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Redburn Atlantic assumed coverage on shares of Kenvue in a research note on Thursday, April 10th. They issued a "neutral" rating and a $23.50 target price on the stock. Piper Sandler boosted their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Finally, UBS Group increased their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $25.33.

Kenvue Stock Up 0.1%

Shares of KVUE traded up $0.03 on Friday, hitting $21.39. The company's stock had a trading volume of 24,956,266 shares, compared to its average volume of 16,262,112. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The firm's fifty day moving average price is $22.99 and its 200-day moving average price is $22.41. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $25.17. The firm has a market capitalization of $41.03 billion, a price-to-earnings ratio of 38.88, a P/E/G ratio of 3.32 and a beta of 0.98.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The business's revenue was down 3.9% on a year-over-year basis. On average, equities research analysts expect that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend was Wednesday, May 14th. Kenvue's payout ratio is presently 149.09%.

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.