Janney Montgomery Scott LLC Sells 72,739 Shares of Kenvue Inc. (NYSE:KVUE)

Janney Montgomery Scott LLC trimmed its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 4.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,465,467 shares of the company's stock after selling 72,739 shares during the quarter. Janney Montgomery Scott LLC owned about 0.08% of Kenvue worth $35,142,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Columbus Macro LLC grew its holdings in Kenvue by 27.5% during the 1st quarter. Columbus Macro LLC now owns 285,069 shares of the company's stock valued at $6,836,000 after buying an additional 61,481 shares in the last quarter. Hanson & Doremus Investment Management boosted its position in shares of Kenvue by 39.7% during the 1st quarter. Hanson & Doremus Investment Management now owns 3,845 shares of the company's stock valued at $92,000 after acquiring an additional 1,092 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Kenvue by 154.2% in the first quarter. Exchange Traded Concepts LLC now owns 60,130 shares of the company's stock valued at $1,442,000 after purchasing an additional 36,480 shares in the last quarter. Pinion Investment Advisors LLC increased its position in Kenvue by 125.0% in the first quarter. Pinion Investment Advisors LLC now owns 71,302 shares of the company's stock worth $1,710,000 after purchasing an additional 39,615 shares during the last quarter. Finally, Cornell Pochily Investment Advisors Inc. raised its stake in Kenvue by 24.2% during the first quarter. Cornell Pochily Investment Advisors Inc. now owns 13,564 shares of the company's stock valued at $325,000 after purchasing an additional 2,647 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Evercore ISI began coverage on shares of Kenvue in a research note on Monday, March 24th. They issued an "in-line" rating and a $25.00 price objective for the company. Citigroup reissued a "neutral" rating on shares of Kenvue in a research note on Friday. UBS Group raised their price objective on Kenvue from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Redburn Atlantic started coverage on Kenvue in a research report on Thursday, April 10th. They set a "neutral" rating and a $23.50 target price on the stock. Finally, Barclays increased their price target on Kenvue from $22.00 to $23.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, Kenvue currently has a consensus rating of "Hold" and a consensus price target of $25.33.

Kenvue Trading Up 0.9%

NYSE KVUE opened at $21.65 on Tuesday. The stock has a market cap of $41.53 billion, a PE ratio of 40.84, a PEG ratio of 2.62 and a beta of 0.98. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $25.17. The company's 50-day moving average price is $23.03 and its 200-day moving average price is $22.48. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the firm earned $0.28 EPS. The company's revenue for the quarter was down 3.9% compared to the same quarter last year. Equities research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued a dividend of $0.205 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.82 annualized dividend and a yield of 3.79%. Kenvue's payout ratio is currently 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.

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