Kenvue Inc. $KVUE Shares Sold by Strs Ohio

Key Points

• Strs Ohio cut its stake in Kenvue by 76.4%, selling 400,919 shares in the quarter and leaving 123,620 shares worth $2.13 million.
• Kenvue beat quarterly estimates with $0.27 EPS (vs. $0.22 expected) and $3.78B revenue (up 3.2% YoY), but the stock carries a consensus “Hold” rating with an average price target of $19.33.
• The company announced a quarterly dividend of $0.2075 (annualized $0.83) for a yield of 4.8%, while the dividend payout ratio stands at an elevated 107.79%.

Strs Ohio cut its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 76.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 123,620 shares of the company's stock after selling 400,919 shares during the quarter. Strs Ohio's holdings in Kenvue were worth $2,132,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Salomon & Ludwin LLC acquired a new stake in shares of Kenvue during the third quarter valued at about $25,000. NBT Bank N A NY boosted its stake in shares of Kenvue by 180.3% during the 3rd quarter. NBT Bank N A NY now owns 1,564 shares of the company's stock valued at $25,000 after buying an additional 1,006 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in shares of Kenvue by 705.2% in the third quarter. Cornerstone Planning Group LLC now owns 1,554 shares of the company's stock worth $25,000 after buying an additional 1,361 shares during the last quarter. Physician Wealth Advisors Inc. boosted its stake in Kenvue by 67.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock valued at $26,000 after acquiring an additional 618 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in Kenvue by 150.1% during the 3rd quarter. Golden State Wealth Management LLC now owns 1,983 shares of the company's stock worth $32,000 after acquiring an additional 1,190 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Kenvue Trading Up 1.5%

NYSE KVUE opened at $17.41 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 1-year low of $14.02 and a 1-year high of $25.17. The firm's fifty day simple moving average is $17.70 and its 200-day simple moving average is $17.20. The company has a market capitalization of $33.42 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 3.89 and a beta of 0.55.

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. Kenvue had a return on equity of 19.72% and a net margin of 9.72%.The firm had revenue of $3.78 billion during the quarter, compared to analysts' expectations of $3.68 billion. During the same quarter last year, the firm earned $0.26 earnings per share. The business's revenue for the quarter was up 3.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Kenvue Inc. will post 1.1 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th will be issued a dividend of $0.2075 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.8%. Kenvue's dividend payout ratio is currently 107.79%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on KVUE shares. Canaccord Genuity Group boosted their price target on Kenvue from $17.00 to $18.00 and gave the company a "hold" rating in a report on Wednesday, February 18th. Jefferies Financial Group lowered Kenvue from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $23.00 to $18.00 in a report on Friday, January 30th. Weiss Ratings restated a "hold (c-)" rating on shares of Kenvue in a research note on Wednesday, April 8th. Argus raised shares of Kenvue to a "hold" rating in a research note on Friday, March 6th. Finally, UBS Group cut their price objective on Kenvue from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, April 7th. Three equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average 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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