Easterly Investment Partners LLC Cuts Stake in Kenvue Inc. (NYSE:KVUE)

Easterly Investment Partners LLC cut its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 45.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,655 shares of the company's stock after selling 68,322 shares during the quarter. Easterly Investment Partners LLC's holdings in Kenvue were worth $1,934,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. acquired a new position in Kenvue in the first quarter valued at approximately $30,000. TruNorth Capital Management LLC acquired a new position in shares of Kenvue during the first quarter worth approximately $36,000. Clarity Asset Management Inc. acquired a new position in shares of Kenvue during the fourth quarter worth approximately $45,000. Continuum Advisory LLC raised its position in shares of Kenvue by 2,071.1% during the first quarter. Continuum Advisory LLC now owns 1,954 shares of the company's stock worth $47,000 after purchasing an additional 1,864 shares during the period. Finally, Rossby Financial LCC acquired a new position in shares of Kenvue during the first quarter worth approximately $52,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on KVUE shares. Citigroup lowered their target price on Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Bank of America dropped their price objective on Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. UBS Group dropped their price objective on Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday. Barclays dropped their price objective on Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. Finally, Evercore ISI began coverage on Kenvue in a research note on Monday, March 24th. They set an "in-line" rating and a $25.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Kenvue currently has a consensus rating of "Hold" and an average target price of $24.71.

Kenvue Trading Up 0.7%

KVUE stock traded up $0.15 during midday trading on Friday, hitting $22.00. The company had a trading volume of 12,727,162 shares, compared to its average volume of 16,312,363. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. Kenvue Inc. has a 52 week low of $17.85 and a 52 week high of $25.17. The stock's 50 day moving average price is $22.15 and its 200 day moving average price is $22.30. The stock has a market cap of $42.21 billion, a price-to-earnings ratio of 40.00, a PEG ratio of 3.43 and a beta of 0.83.

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

Kenvue Company 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.