Equity Investment Corp Sells 893,724 Shares of Kenvue Inc. (NYSE:KVUE)

Equity Investment Corp lessened its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 13.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,523,915 shares of the company's stock after selling 893,724 shares during the quarter. Kenvue comprises approximately 3.0% of Equity Investment Corp's investment portfolio, making the stock its 8th largest holding. Equity Investment Corp owned 0.29% of Kenvue worth $132,463,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its stake in shares of Kenvue by 4.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 106,140 shares of the company's stock worth $2,545,000 after purchasing an additional 4,034 shares during the period. Starboard Value LP purchased a new stake in Kenvue during the fourth quarter worth $467,864,000. TrueMark Investments LLC grew its position in Kenvue by 9.3% during the fourth quarter. TrueMark Investments LLC now owns 190,595 shares of the company's stock valued at $4,069,000 after buying an additional 16,161 shares during the period. Kingswood Wealth Advisors LLC purchased a new position in Kenvue in the first quarter valued at $413,000. Finally, DLK Investment Management LLC purchased a new position in Kenvue in the first quarter valued at $4,100,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KVUE has been the subject of several recent analyst reports. Barclays cut their price target on Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a research note on Tuesday. Bank of America reduced their target price on Kenvue from $27.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday. Citigroup decreased their target price on Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a research report on Tuesday. Redburn Atlantic started coverage on shares of Kenvue in a report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price target for the company. Finally, UBS Group reduced their price objective on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $24.71.

Kenvue Price Performance

Shares of Kenvue stock traded up $0.03 during trading hours on Thursday, reaching $21.88. 8,360,138 shares of the company's stock were exchanged, compared to its average volume of 16,307,246. The business has a fifty day moving average of $22.24 and a two-hundred day moving average of $22.29. The company has a market capitalization of $41.97 billion, a P/E ratio of 39.76, a price-to-earnings-growth ratio of 3.33 and a beta of 0.83. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. Kenvue Inc. has a 1 year low of $17.85 and a 1 year high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.69 billion. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. Kenvue's revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 EPS. As a group, research analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

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.