Kenvue Inc. $KVUE Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its shares in Kenvue Inc. by 16.7%, now holding approximately 1.86 million shares valued at about $44.67 million.
• Kenvue's quarterly earnings per share were $0.29, surpassing expectations, but its revenue declined 4% year-over-year, totaling $3.84 billion.
• The company announced an increase in its quarterly dividend to $0.2075, resulting in an annualized yield of 4.0%, despite a high payout ratio of 112.16%.

The Manufacturers Life Insurance Company reduced its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 16.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,862,820 shares of the company's stock after selling 372,296 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.10% of Kenvue worth $44,670,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. Evergreen Wealth Solutions LLC lifted its holdings in Kenvue by 2.6% during the 1st quarter. Evergreen Wealth Solutions LLC now owns 16,769 shares of the company's stock valued at $402,000 after buying an additional 432 shares in the last quarter. Fulton Bank N.A. grew its position in shares of Kenvue by 0.6% in the 1st quarter. Fulton Bank N.A. now owns 78,888 shares of the company's stock worth $1,892,000 after buying an additional 465 shares during the last quarter. Scott & Selber Inc. grew its position in shares of Kenvue by 0.4% in the 1st quarter. Scott & Selber Inc. now owns 106,621 shares of the company's stock worth $2,557,000 after buying an additional 475 shares during the last quarter. Wealth Alliance LLC grew its position in shares of Kenvue by 1.6% in the 1st quarter. Wealth Alliance LLC now owns 31,778 shares of the company's stock worth $762,000 after buying an additional 486 shares during the last quarter. Finally, Everett Harris & Co. CA grew its position in shares of Kenvue by 1.4% in the 1st quarter. Everett Harris & Co. CA now owns 36,971 shares of the company's stock worth $887,000 after buying an additional 500 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Stock Performance

Shares of KVUE stock traded up $0.06 during trading hours on Thursday, hitting $20.51. The company's stock had a trading volume of 15,322,810 shares, compared to its average volume of 17,233,639. The company has a 50 day moving average of $21.42 and a 200 day moving average of $22.42. The stock has a market cap of $39.35 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 2.97 and a beta of 0.83. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 12-month low of $19.75 and a 12-month high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.94 billion. Kenvue had a net margin of 9.37% and a return on equity of 20.06%. The business's revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.32 EPS. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. On average, sell-side analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were paid a $0.2075 dividend. The ex-dividend date was Wednesday, August 13th. This represents a $0.83 annualized dividend and a dividend yield of 4.0%. This is an increase from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio (DPR) is presently 112.16%.

Analysts Set New Price Targets

Several analysts have weighed in on KVUE shares. Citigroup dropped their target price on shares of Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. UBS Group dropped their target price on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Barclays dropped their target price on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. JPMorgan Chase & Co. dropped their target price on shares of Kenvue from $27.00 to $26.00 and set an "overweight" rating on the stock in a research report on Friday, July 25th. Finally, Canaccord Genuity Group dropped their target price on shares of Kenvue from $29.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $24.38.

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.