Kenvue Inc. (NYSE:KVUE) Shares Sold by Mizuho Markets Americas LLC

Key Points

• Mizuho Markets Americas LLC has reduced its stake in Kenvue Inc. by 48.9%, owning 59,644 shares, valued at approximately $1.43 million after selling 57,154 shares in Q1.
• Kenvue reported quarterly earnings of $0.29 per share, slightly above analysts' expectations, but its revenue declined by 4% year-over-year, totaling $3.84 billion.
• The company announced a new quarterly dividend of $0.2075 per share, an increase from the previous $0.21, resulting in an annualized yield of 3.9%.

Mizuho Markets Americas LLC reduced its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 48.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 59,644 shares of the company's stock after selling 57,154 shares during the quarter. Mizuho Markets Americas LLC's holdings in Kenvue were worth $1,430,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in KVUE. Starboard Value LP purchased a new stake in shares of Kenvue during the fourth quarter valued at $467,864,000. Vanguard Group Inc. raised its holdings in shares of Kenvue by 4.9% in the first quarter. Vanguard Group Inc. now owns 229,144,387 shares of the company's stock valued at $5,494,882,000 after acquiring an additional 10,600,682 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Kenvue by 3.5% in the fourth 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 acquiring an additional 8,211,748 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Kenvue by 34.2% in the first quarter. Goldman Sachs Group Inc. now owns 19,670,179 shares of the company's stock valued at $471,691,000 after acquiring an additional 5,011,431 shares in the last quarter. Finally, Epoch Investment Partners Inc. bought a new stake in shares of Kenvue in the fourth quarter valued at about $66,916,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on KVUE. JPMorgan Chase & Co. decreased their price objective on Kenvue from $27.00 to $26.00 and set an "overweight" rating for the company in a report on Friday, July 25th. Barclays decreased their price objective on Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th. Canaccord Genuity Group decreased their price objective on Kenvue from $29.00 to $26.00 and set a "buy" rating for the company in a report on Friday, August 8th. Royal Bank Of Canada decreased their price objective on Kenvue from $24.00 to $22.00 and set a "sector perform" rating for the company in a report on Friday, August 8th. Finally, UBS Group decreased their price objective on Kenvue from $25.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $24.38.

Kenvue Stock Down 0.8%

Kenvue stock traded down $0.17 during trading hours on Wednesday, reaching $21.52. The stock had a trading volume of 1,477,855 shares, compared to its average volume of 17,535,465. Kenvue Inc. has a 52 week low of $19.75 and a 52 week high of $25.17. The company has a market cap of $41.30 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 4.00 and a beta of 0.83. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.68. The business's 50 day moving average price is $21.56 and its 200-day moving average price is $22.42.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.01. Kenvue had a return on equity of 20.06% and a net margin of 9.37%. The business had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The company's revenue was down 4.0% on a year-over-year basis. Sell-side analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be paid a dividend of $0.2075 per share. The ex-dividend date is Wednesday, August 13th. This is a positive change from Kenvue's previous quarterly dividend of $0.21. This represents a $0.83 dividend on an annualized basis and a dividend yield of 3.9%. Kenvue's payout ratio is presently 110.81%.

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.