Kenvue Inc. $KVUE Position Reduced by Victory Capital Management Inc.

Key Points

• Victory Capital trimmed its Kenvue stake by 4.1% in Q3 and now owns 2,509,576 shares, valued at about $40.73 million.
• Director Jeffrey C. Smith purchased 3,200,000 shares at an average $17.37 on Dec. 12, increasing his ownership to 27,307,632 shares (a $55.6 million buy, a 13.27% rise in his stake).
• Kenvue beat quarterly expectations (EPS $0.27 vs. $0.22; revenue $3.78B vs. $3.68B), pays a quarterly dividend implying a 4.5% yield (payout ratio 107.79%), and has a MarketBeat consensus rating of Hold with an average target of $19.58.

Victory Capital Management Inc. lowered its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 4.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,509,576 shares of the company's stock after selling 106,668 shares during the period. Victory Capital Management Inc. owned 0.13% of Kenvue worth $40,730,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of KVUE. Strive Asset Management LLC bought a new position in shares of Kenvue during the third quarter worth about $162,000. Kingsview Wealth Management LLC increased its holdings in Kenvue by 20.6% in the third quarter. Kingsview Wealth Management LLC now owns 15,345 shares of the company's stock valued at $249,000 after buying an additional 2,616 shares during the last quarter. Round Hill Asset Management acquired a new stake in Kenvue during the third quarter valued at approximately $620,000. 111 Capital acquired a new stake in Kenvue during the third quarter valued at approximately $162,000. Finally, Elo Mutual Pension Insurance Co lifted its holdings in Kenvue by 28.6% during the 3rd quarter. Elo Mutual Pension Insurance Co now owns 273,599 shares of the company's stock worth $4,441,000 after buying an additional 60,818 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Kenvue Stock Up 0.9%

NYSE:KVUE opened at $18.41 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The stock has a 50 day moving average of $17.85 and a 200-day moving average of $17.43. The firm has a market capitalization of $35.29 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 4.21 and a beta of 0.51. Kenvue Inc. has a 52 week low of $14.02 and a 52 week high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings data on Tuesday, February 17th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.05. The business had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.68 billion. Kenvue had a return on equity of 19.72% and a net margin of 9.72%.The business's revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 EPS. Analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were issued a dividend of $0.2075 per share. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.83 annualized dividend and a dividend yield of 4.5%. Kenvue's payout ratio is 107.79%.

Wall Street Analysts Forecast Growth

KVUE has been the subject of several research reports. Jefferies Financial Group lowered Kenvue from a "buy" rating to a "hold" rating and decreased their target price for the stock from $23.00 to $18.00 in a research report on Friday, January 30th. Citigroup raised their price objective on Kenvue from $18.00 to $20.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 18th. Barclays lifted their price objective on shares of Kenvue from $18.00 to $19.00 and gave the stock an "equal weight" rating in a report on Friday. Zacks Research upgraded shares of Kenvue from a "strong sell" rating to a "hold" rating in a research note on Wednesday, November 26th. Finally, UBS Group increased their target price on shares of Kenvue from $17.00 to $19.00 and gave the stock a "neutral" rating in a report on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, Kenvue presently has a consensus rating of "Hold" and an average target price of $19.58.

Insider Activity

In other news, Director Jeffrey C. Smith purchased 3,200,000 shares of the stock in a transaction dated Friday, December 12th. The stock was acquired at an average price of $17.37 per share, for a total transaction of $55,584,000.00. Following the completion of the transaction, the director owned 27,307,632 shares of the company's stock, valued at approximately $474,333,567.84. The trade was a 13.27% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.68% of the company's stock.

About Kenvue

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.

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