Kenvue Inc. (NYSE:KVUE) Shares Sold by Choreo LLC

Key Points

• Choreo LLC reduced its stake in Kenvue Inc. by 25.5%, owning 37,850 shares after selling 12,942 shares, with its holdings valued at $908,000.
• In the latest quarterly earnings report, Kenvue beat analyst estimates with $0.24 EPS, on revenue of $3.74 billion, though revenue was down 3.9% year-over-year.
• Analysts have adjusted Kenvue's price targets, with Barclays lowering it from $23.00 to $22.00, while maintaining an "equal weight" rating.

Choreo LLC lessened its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 25.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,850 shares of the company's stock after selling 12,942 shares during the period. Choreo LLC's holdings in Kenvue were worth $908,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Kenvue in the 4th quarter valued at $521,348,000. Starboard Value LP purchased a new stake in Kenvue in the 4th quarter valued at $467,864,000. Franklin Resources Inc. raised its position in Kenvue by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company's stock valued at $912,059,000 after purchasing an additional 16,269,721 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Kenvue by 12.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company's stock valued at $2,085,070,000 after purchasing an additional 10,682,003 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Kenvue by 3.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company's stock valued at $5,249,665,000 after purchasing an additional 8,211,748 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Kenvue Stock Up 1.5%

Shares of Kenvue stock opened at $22.84 on Friday. The company has a market cap of $43.82 billion, a P/E ratio of 41.53, a PEG ratio of 3.81 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 0.86. Kenvue Inc. has a one year low of $18.10 and a one year high of $25.17. The firm has a fifty day moving average of $22.02 and a two-hundred day moving average of $22.36.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.23 by $0.01. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. The business's revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.28 EPS. On average, analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently commented on KVUE. Barclays reduced their price target on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. JPMorgan Chase & Co. reduced their price target on shares of Kenvue from $27.00 to $26.00 and set an "overweight" rating for the company in a research report on Friday. Bank of America reduced their price target on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. UBS Group reduced their price target on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Finally, Redburn Atlantic began coverage on shares of Kenvue in a research report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price target for the company. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $24.79.

Kenvue Profile

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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