Harris Associates L P Sells 4,636,560 Shares of Kenvue Inc. $KVUE

Key Points

• Harris Associates L P reduced its holdings in Kenvue Inc. by 14.7%, owning approximately 26.88 million shares valued at $644.62 million at the end of the first quarter.
• Kenvue's recent earnings report showed a slight beat in EPS at $0.29, though revenue declined by 4% year-over-year to $3.84 billion, while the company set its FY 2025 EPS guidance at 1.000-1.050.
• The company recently increased its dividend to $0.2075 per share, representing a yield of approximately 4.0%, which is an adjustment from the previous dividend of $0.21.

Harris Associates L P trimmed its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 14.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,881,719 shares of the company's stock after selling 4,636,560 shares during the period. Harris Associates L P owned about 1.40% of Kenvue worth $644,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Evergreen Wealth Solutions LLC lifted its position in shares of Kenvue by 2.6% during the first quarter. Evergreen Wealth Solutions LLC now owns 16,769 shares of the company's stock valued at $402,000 after purchasing an additional 432 shares in the last quarter. Fulton Bank N.A. lifted its position in shares of Kenvue by 0.6% during the first quarter. Fulton Bank N.A. now owns 78,888 shares of the company's stock valued at $1,892,000 after purchasing an additional 465 shares in the last quarter. Scott & Selber Inc. lifted its position in shares of Kenvue by 0.4% during the first quarter. Scott & Selber Inc. now owns 106,621 shares of the company's stock valued at $2,557,000 after purchasing an additional 475 shares in the last quarter. Wealth Alliance LLC lifted its position in shares of Kenvue by 1.6% during the first quarter. Wealth Alliance LLC now owns 31,778 shares of the company's stock valued at $762,000 after purchasing an additional 486 shares in the last quarter. Finally, Everett Harris & Co. CA lifted its position in shares of Kenvue by 1.4% during the first quarter. Everett Harris & Co. CA now owns 36,971 shares of the company's stock valued at $887,000 after purchasing an additional 500 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Stock Performance

Shares of KVUE traded up $0.06 during trading hours on Thursday, hitting $20.51. The company's stock had a trading volume of 15,322,810 shares, compared to its average volume of 17,233,639. The company has a market cap of $39.35 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 2.97 and a beta of 0.83. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.68. The business has a 50 day simple moving average of $21.41 and a two-hundred day simple moving average of $22.41. Kenvue Inc. has a 52-week low of $19.75 and a 52-week high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $3.84 billion during 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%. Kenvue's revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.32 earnings per share. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. On average, equities analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th were issued a $0.2075 dividend. This represents a $0.83 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Wednesday, August 13th. This is an increase from Kenvue's previous quarterly dividend of $0.21. Kenvue's payout ratio is 112.16%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on KVUE shares. Royal Bank Of Canada dropped their price target on shares of Kenvue from $24.00 to $22.00 and set a "sector perform" rating on the stock in a research report on Friday, August 8th. Citigroup dropped their price target on shares of Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Bank of America lowered their price objective on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, July 15th. Barclays lowered their price objective on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. Finally, Zacks Research raised shares of Kenvue to a "strong sell" rating in a research report on Monday, August 11th. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $24.38.

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.