King Luther Capital Management Corp Sells 74,727 Shares of Kenvue Inc. $KVUE

Key Points

• King Luther Capital Management reduced its Kenvue stake by 39.5% in the fourth quarter, selling 74,727 shares and leaving it with 114,577 shares worth about $1.98 million.
• Kenvue reported better-than-expected quarterly results, posting EPS of $0.32 versus $0.27 expected and revenue of $3.91 billion versus $3.84 billion anticipated, with revenue up 4.5% year over year.
• Analysts remain cautious overall: the stock has a consensus rating of “Hold” with an average price target of $19.33, though one recent upgrade came from Zacks Research to “strong-buy.”

King Luther Capital Management Corp cut its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 39.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 114,577 shares of the company's stock after selling 74,727 shares during the period. King Luther Capital Management Corp's holdings in Kenvue were worth $1,976,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Physician Wealth Advisors Inc. grew its holdings in shares of Kenvue by 67.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock worth $26,000 after purchasing an additional 618 shares during the last quarter. Versor Investments LP boosted its holdings in shares of Kenvue by 2.8% in the third quarter. Versor Investments LP now owns 26,016 shares of the company's stock valued at $422,000 after purchasing an additional 716 shares during the period. Philip James Wealth Mangement LLC boosted its holdings in shares of Kenvue by 5.5% in the fourth quarter. Philip James Wealth Mangement LLC now owns 13,888 shares of the company's stock valued at $240,000 after purchasing an additional 726 shares during the period. Phoenix Financial Ltd. boosted its holdings in shares of Kenvue by 5.4% in the fourth quarter. Phoenix Financial Ltd. now owns 15,195 shares of the company's stock valued at $262,000 after purchasing an additional 783 shares during the period. Finally, Titleist Asset Management LLC boosted its holdings in shares of Kenvue by 1.6% in the third quarter. Titleist Asset Management LLC now owns 50,957 shares of the company's stock valued at $827,000 after purchasing an additional 796 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, General Counsel Matthew Orlando sold 38,491 shares of the firm's stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $17.66, for a total transaction of $679,751.06. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.59% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Zacks Research upgraded Kenvue from a "hold" rating to a "strong-buy" rating in a report on Friday, May 8th. Canaccord Genuity Group boosted their price target on Kenvue from $17.00 to $18.00 and gave the company a "hold" rating in a report on Wednesday, February 18th. UBS Group decreased their price objective on Kenvue from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, April 7th. Citigroup decreased their price objective on Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, April 15th. Finally, Weiss Ratings upgraded Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $19.33.

Kenvue Stock Performance

Shares of KVUE stock opened at $17.66 on Friday. The firm has a market cap of $33.92 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 1.34 and a beta of 0.55. The company's 50 day moving average is $17.41 and its 200 day moving average is $17.46. The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. Kenvue Inc. has a 52-week low of $14.02 and a 52-week high of $23.90.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. Kenvue's revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. On average, sell-side analysts anticipate that Kenvue Inc. will post 1.16 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a dividend of $0.2075 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.83 dividend on an annualized basis and a yield of 4.7%. Kenvue's dividend payout ratio (DPR) is presently 97.65%.

Kenvue Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.

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