Handelsbanken Fonder AB Cuts Holdings in Kenvue Inc. (NYSE:KVUE)

Handelsbanken Fonder AB cut its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 4.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 707,791 shares of the company's stock after selling 34,393 shares during the quarter. Handelsbanken Fonder AB's holdings in Kenvue were worth $16,973,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in KVUE. SRS Capital Advisors Inc. increased its position in shares of Kenvue by 67.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock worth $30,000 after purchasing an additional 571 shares in the last quarter. Asset Planning Inc purchased a new stake in shares of Kenvue during the fourth quarter worth approximately $42,000. Clarity Asset Management Inc. purchased a new stake in shares of Kenvue during the fourth quarter worth approximately $45,000. SBI Securities Co. Ltd. purchased a new stake in shares of Kenvue during the fourth quarter worth approximately $46,000. Finally, Deseret Mutual Benefit Administrators increased its position in shares of Kenvue by 29.0% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company's stock worth $54,000 after purchasing an additional 568 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Trading Down 2.7%

Shares of Kenvue stock traded down $0.60 during trading hours on Friday, hitting $21.44. The company's stock had a trading volume of 37,242,399 shares, compared to its average volume of 16,485,332. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $25.17. The firm has a fifty day moving average of $23.03 and a 200-day moving average of $22.50. The stock has a market cap of $41.14 billion, a price-to-earnings ratio of 40.46, a P/E/G ratio of 2.62 and a beta of 0.98. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00.

Kenvue (NYSE:KVUE - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. 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 prior year, the company earned $0.28 EPS. Kenvue's revenue was down 3.9% on a year-over-year basis. Research analysts forecast that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Wednesday, May 14th. Kenvue's payout ratio is 149.09%.

Analyst Ratings Changes

Several brokerages have issued reports on KVUE. Citigroup upped their target price on Kenvue from $22.00 to $24.50 and gave the company a "neutral" rating in a report on Friday, May 9th. Redburn Atlantic began coverage on Kenvue in a report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 target price for the company. Evercore ISI began coverage on Kenvue in a report on Monday, March 24th. They issued an "in-line" rating and a $25.00 target price for the company. Piper Sandler upped their target price on Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Finally, Canaccord Genuity Group upped their target price on Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Kenvue has a consensus rating of "Hold" and an average price target of $25.33.

Kenvue 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.