Kenvue Inc. (NYSE:KVUE) Shares Sold by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB reduced its holdings in Kenvue Inc. by 38.3%, now owning 74,290 shares valued at approximately $1.78 million, as per their latest SEC filing.
• Multiple analysts have downgraded Kenvue's price targets recently, with Bank of America lowering its target from $27.00 to $25.00, indicating a cautious outlook for the stock.
• Kenvue has announced an increase in its quarterly dividend to $0.2075, yielding 3.9%, with the ex-dividend date set for August 13th.

AMF Tjanstepension AB lessened its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 38.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 74,290 shares of the company's stock after selling 46,187 shares during the period. AMF Tjanstepension AB's holdings in Kenvue were worth $1,781,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of KVUE. Advisory Services Network LLC lifted its stake in shares of Kenvue by 2.9% in the 4th quarter. Advisory Services Network LLC now owns 52,281 shares of the company's stock valued at $1,116,000 after purchasing an additional 1,469 shares during the last quarter. Scotia Capital Inc. raised its holdings in shares of Kenvue by 3.2% in the 4th quarter. Scotia Capital Inc. now owns 202,825 shares of the company's stock valued at $4,331,000 after buying an additional 6,252 shares during the period. Neuberger Berman Group LLC raised its holdings in shares of Kenvue by 0.4% in the 4th quarter. Neuberger Berman Group LLC now owns 265,473 shares of the company's stock valued at $5,668,000 after buying an additional 1,165 shares during the period. Treasurer of the State of North Carolina raised its holdings in shares of Kenvue by 3.3% in the 4th quarter. Treasurer of the State of North Carolina now owns 864,896 shares of the company's stock valued at $18,466,000 after buying an additional 27,950 shares during the period. Finally, Sterling Capital Management LLC raised its holdings in shares of Kenvue by 55.3% in the 4th quarter. Sterling Capital Management LLC now owns 114,247 shares of the company's stock valued at $2,439,000 after buying an additional 40,694 shares during the period. Institutional investors and hedge funds own 97.64% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on KVUE shares. Bank of America cut their price objective on Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. UBS Group cut their price objective on Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Royal Bank Of Canada cut their price objective on Kenvue from $24.00 to $22.00 and set a "sector perform" rating on the stock in a report on Friday. Canaccord Genuity Group cut their price objective on Kenvue from $29.00 to $26.00 and set a "buy" rating on the stock in a report on Friday. Finally, Barclays cut their price target on Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $24.38.

Kenvue Price Performance

Shares of NYSE KVUE opened at $21.37 on Friday. Kenvue Inc. has a 1-year low of $19.75 and a 1-year high of $25.17. The company has a market cap of $41.00 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 3.65 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.60. The stock's 50-day moving average is $21.62 and its two-hundred day moving average is $22.40.

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 analysts' consensus estimates of $0.28 by $0.01. Kenvue had a return on equity of 20.36% and a net margin of 9.37%. The business had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the prior year, the business posted $0.32 EPS. The business's revenue for the quarter was down 4.0% on a year-over-year basis. Analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be issued a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Wednesday, August 13th. This is an increase from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio (DPR) is currently 149.09%.

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.

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