Douglas Lane & Associates LLC cut its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 23.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,806 shares of the company's stock after selling 21,914 shares during the period. Douglas Lane & Associates LLC's holdings in Kenvue were worth $1,698,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Czech National Bank boosted its position in Kenvue by 5.9% in the 1st quarter. Czech National Bank now owns 440,364 shares of the company's stock valued at $10,560,000 after buying an additional 24,664 shares during the period. Rhumbline Advisers raised its holdings in Kenvue by 6.4% during the first quarter. Rhumbline Advisers now owns 3,553,166 shares of the company's stock worth $85,205,000 after purchasing an additional 215,188 shares in the last quarter. Lantz Financial LLC purchased a new stake in Kenvue in the first quarter valued at $200,000. First County Bank CT acquired a new stake in shares of Kenvue in the 1st quarter valued at about $337,000. Finally, GoalVest Advisory LLC boosted its holdings in shares of Kenvue by 7.3% in the first quarter. GoalVest Advisory LLC now owns 101,816 shares of the company's stock valued at $2,442,000 after acquiring an additional 6,919 shares during the period. Hedge funds and other institutional investors own 97.64% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have commented on the stock. Royal Bank of Canada restated a "sector perform" rating and issued a $24.00 price objective on shares of Kenvue in a research note on Monday, February 3rd. Piper Sandler boosted their price target on Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Redburn Atlantic initiated coverage on Kenvue in a research report on Thursday, April 10th. They set a "neutral" rating and a $23.50 price objective for the company. UBS Group boosted their target price on Kenvue from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, Canaccord Genuity Group upped their price target on Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Kenvue presently has an average rating of "Hold" and a consensus target price of $25.33.
Check Out Our Latest Stock Analysis on Kenvue
Kenvue Price Performance
NYSE KVUE traded down $1.44 during mid-day trading on Tuesday, hitting $22.23. The stock had a trading volume of 41,951,703 shares, compared to its average volume of 16,421,911. The company has a 50 day simple moving average of $23.28 and a 200 day simple moving average of $22.63. The company has a market cap of $42.65 billion, a price-to-earnings ratio of 41.94, a P/E/G ratio of 2.62 and a beta of 1.02. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $25.17. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.
Kenvue (NYSE:KVUE - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Kenvue's revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 earnings per share. Equities analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.
Kenvue Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.82 annualized dividend and a yield of 3.69%. Kenvue's dividend payout ratio (DPR) is currently 149.09%.
Kenvue Company Profile
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Free Report)
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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