Invesco Ltd. Sells 926,566 Shares of Kenvue Inc. (NYSE:KVUE)

Key Points

• Invesco Ltd. has reduced its stake in Kenvue Inc. by selling 926,566 shares, which represents a 5.5% decrease in its holdings, leaving it with approximately 16 million shares valued at around $385 million.
• Kenvue recently declared a quarterly dividend of $0.2075 per share, an increase from its previous dividend, resulting in an annualized dividend yield of 3.9%.
• The company's stock is currently trading at $21.22, down 0.6%, with analysts predicting a consensus price target of $24.38 and a mix of hold and buy ratings from research firms.

Invesco Ltd. lowered its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 5.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,059,706 shares of the company's stock after selling 926,566 shares during the period. Invesco Ltd. owned approximately 0.84% of Kenvue worth $385,112,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Pittenger & Anderson Inc. bought a new position in shares of Kenvue in the first quarter worth about $30,000. TruNorth Capital Management LLC bought a new position in shares of Kenvue in the first quarter worth about $36,000. Bank Julius Baer & Co. Ltd Zurich increased its stake in Kenvue by 120.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock valued at $41,000 after acquiring an additional 929 shares during the period. Clarity Asset Management Inc. bought a new position in Kenvue during the fourth quarter valued at about $45,000. Finally, Continuum Advisory LLC increased its stake in Kenvue by 2,071.1% during the first quarter. Continuum Advisory LLC now owns 1,954 shares of the company's stock valued at $47,000 after acquiring an additional 1,864 shares during the period. Institutional investors and hedge funds own 97.64% of the company's stock.

Analyst Ratings Changes

KVUE has been the topic of several research reports. Barclays lowered their price target on Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. Royal Bank Of Canada lowered their price objective on Kenvue from $24.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Friday, August 8th. Canaccord Genuity Group lowered their price objective on Kenvue from $29.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. JPMorgan Chase & Co. lowered their price objective on Kenvue from $27.00 to $26.00 and set an "overweight" rating on the stock in a research note on Friday, July 25th. Finally, UBS Group lowered their price objective on Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $24.38.

Kenvue Stock Down 3.0%

KVUE stock traded down $0.66 during trading hours on Thursday, reaching $21.06. 14,760,615 shares of the stock were exchanged, compared to its average volume of 17,592,551. The company has a market cap of $40.41 billion, a price-to-earnings ratio of 28.45, a PEG ratio of 3.15 and a beta of 0.83. The firm's 50-day moving average is $21.55 and its 200-day moving average is $22.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.68. Kenvue Inc. has a 12 month low of $19.75 and a 12 month high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.94 billion. Kenvue had a net margin of 9.37% and a return on equity of 20.06%. Kenvue's revenue was down 4.0% on a year-over-year basis. During the same period last year, the business posted $0.32 EPS. On average, equities research analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be paid a $0.2075 dividend. The ex-dividend date is Wednesday, August 13th. This represents a $0.83 annualized dividend and a dividend yield of 3.9%. This is an increase from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio (DPR) is presently 110.81%.

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.