Kenvue Inc. $KVUE Shares Sold by Moors & Cabot Inc.

Key Points

• Moors & Cabot Inc. sharply reduced its Kenvue stake by 93.2% in the fourth quarter, selling 291,810 shares and leaving it with 21,312 shares worth about $368,000.
• Kenvue reported better-than-expected Q1 earnings, posting EPS of $0.32 versus the $0.27 estimate and revenue of $3.91 billion, up 4.5% year over year.
• The company recently paid a quarterly dividend of $0.2075 per share, equal to an annualized yield of about 4.8%, though its payout ratio is high at 97.65%.

Moors & Cabot Inc. lowered its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 93.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,312 shares of the company's stock after selling 291,810 shares during the quarter. Moors & Cabot Inc.'s holdings in Kenvue were worth $368,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Kenvue by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company's stock valued at $4,052,913,000 after purchasing an additional 1,604,040 shares during the period. Geode Capital Management LLC boosted its position in Kenvue by 0.8% during 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 period. American Century Companies Inc. boosted its position in Kenvue by 22.4% during the 3rd quarter. American Century Companies Inc. now owns 37,046,660 shares of the company's stock valued at $601,267,000 after purchasing an additional 6,781,640 shares during the period. Dimensional Fund Advisors LP boosted its position in Kenvue by 13.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 23,127,234 shares of the company's stock worth $375,377,000 after acquiring an additional 2,747,952 shares during the period. Finally, Van ECK Associates Corp boosted its position in Kenvue by 101.3% during the 3rd quarter. Van ECK Associates Corp now owns 18,361,581 shares of the company's stock worth $298,008,000 after acquiring an additional 9,240,434 shares during the period. Institutional investors and hedge funds own 97.64% of the company's stock.

Kenvue Stock Up 0.6%

Shares of Kenvue stock opened at $17.39 on Tuesday. The stock's fifty day moving average is $17.40 and its 200-day moving average is $17.47. The firm has a market capitalization of $33.38 billion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.31 and a beta of 0.55. The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $23.78.

Kenvue (NYSE:KVUE - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.05. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.84 billion. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.Kenvue's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 earnings per share. Equities analysts anticipate that Kenvue Inc. will post 1.16 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a dividend of $0.2075 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.8%. Kenvue's payout ratio is 97.65%.

Insider Activity

In other news, General Counsel Matthew Orlando sold 38,491 shares of the business's stock in a transaction on Friday, May 8th. The stock was sold at an average price of $17.66, for a total transaction of $679,751.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.59% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on KVUE. Barclays reduced their price target on Kenvue from $19.00 to $18.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 14th. Zacks Research upgraded Kenvue from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 8th. Argus upgraded Kenvue to a "hold" rating in a research report on Friday, March 6th. Citigroup reduced their price target on Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, April 15th. Finally, Canaccord Genuity Group boosted their price target on Kenvue from $17.00 to $18.00 and gave the stock a "hold" rating in a research report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.33.

Kenvue Company Profile

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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