Kenvue Inc. $KVUE Shares Sold by Corient Private Wealth LP

Key Points

• Corient Private Wealth reduced its Kenvue stake by 26.5% in the second quarter, selling 146,133 shares and retaining 405,061 shares valued at approximately $7.7 million. Institutional investors collectively own 97.64% of the company.
• Kenvue reported quarterly revenue of $3.96 billion, up 3% year over year, but earnings of $0.31 per share slightly missed analyst estimates. The stock opened at $17.87, below the consensus analyst target of $19.27.
• The company declared a quarterly dividend of $0.21 per share, equivalent to an annualized yield of about 4.7%; analysts maintain an overall “Hold” rating on the shares.

Corient Private Wealth LP trimmed its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 26.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 405,061 shares of the company's stock after selling 146,133 shares during the quarter. Corient Private Wealth LP's holdings in Kenvue were worth $7,741,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new position in shares of Kenvue in the 2nd quarter valued at $2,882,279,000. Pentwater Capital Management LP purchased a new position in shares of Kenvue during the 2nd quarter worth approximately $977,094,000. Geode Capital Management LLC increased its holdings in Kenvue by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 49,862,574 shares of the company's stock valued at $856,778,000 after purchasing an additional 371,322 shares during the last quarter. Independent Franchise Partners LLP raised its holdings in shares of Kenvue by 56.3% in the 4th quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company's stock valued at $830,527,000 after buying an additional 17,343,785 shares during the period. Finally, Norges Bank acquired a new position in Kenvue in the 4th quarter valued at about $756,862,000. Hedge funds and other institutional investors own 97.64% of the company's stock.

Kenvue Trading Up 0.2%

Shares of Kenvue stock opened at $17.87 on Friday. The company has a fifty day simple moving average of $18.92 and a 200-day simple moving average of $18.20. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $20.13. The company has a current ratio of 1.01, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67. The stock has a market cap of $34.32 billion, a price-to-earnings ratio of 20.54, a PEG ratio of 1.63 and a beta of 0.46.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The company had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.97 billion. During the same quarter in the prior year, the business earned $0.29 earnings per share. Kenvue's revenue was up 3.0% compared to the same quarter last year. On average, equities analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Investors of record on Monday, September 21st will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Monday, September 21st. Kenvue's dividend payout ratio (DPR) is currently 96.55%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on KVUE shares. UBS Group cut their price target on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 11th. Weiss Ratings reiterated a "hold (c)" rating on shares of Kenvue in a report on Friday, September 11th. Wall Street Zen lowered Kenvue from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Barclays lifted their price objective on Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 21st. Finally, Zacks Research downgraded shares of Kenvue from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $19.27.

About Kenvue

Kenvue Inc is a global consumer health company that develops, markets and sells products designed to support everyday health and personal care. Its portfolio spans over-the-counter medicines, skin health and beauty, essential health products, and baby and family care.

The company's brands include Tylenol, Motrin, Zyrtec and Benadryl in self-care; Neutrogena, Aveeno and Clean & Clear in skin health and beauty; Listerine in oral care; and Johnson's and Band-Aid in baby care and essential health.

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