Massachusetts Financial Services Co. MA Sells 789,613 Shares of Kenvue Inc. (NYSE:KVUE)

Massachusetts Financial Services Co. MA lessened its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 96,871,731 shares of the company's stock after selling 789,613 shares during the period. Kenvue accounts for 0.8% of Massachusetts Financial Services Co. MA's holdings, making the stock its 22nd biggest holding. Massachusetts Financial Services Co. MA owned about 5.05% of Kenvue worth $2,322,984,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Apollon Wealth Management LLC raised its stake in Kenvue by 35.7% during the first quarter. Apollon Wealth Management LLC now owns 15,875 shares of the company's stock worth $381,000 after buying an additional 4,174 shares during the last quarter. Signaturefd LLC raised its stake in Kenvue by 112.1% during the first quarter. Signaturefd LLC now owns 8,315 shares of the company's stock worth $199,000 after buying an additional 4,395 shares during the last quarter. Bleakley Financial Group LLC raised its stake in Kenvue by 6.2% during the first quarter. Bleakley Financial Group LLC now owns 72,580 shares of the company's stock worth $1,740,000 after buying an additional 4,228 shares during the last quarter. Isthmus Partners LLC raised its stake in Kenvue by 1.0% during the first quarter. Isthmus Partners LLC now owns 556,269 shares of the company's stock worth $13,339,000 after buying an additional 5,657 shares during the last quarter. Finally, CWM LLC raised its stake in Kenvue by 17.2% during the first quarter. CWM LLC now owns 29,342 shares of the company's stock worth $704,000 after buying an additional 4,309 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Kenvue Stock Down 1.9%

Shares of NYSE KVUE traded down $0.42 during mid-day trading on Tuesday, reaching $21.41. 30,739,547 shares of the company's stock traded hands, compared to its average volume of 16,307,340. The stock has a market cap of $41.07 billion, a P/E ratio of 38.92, a PEG ratio of 3.39 and a beta of 0.83. The business has a 50-day simple moving average of $22.26 and a 200 day simple moving average of $22.29. Kenvue Inc. has a 1-year low of $17.85 and a 1-year high of $25.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.60.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $3.74 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period last year, the company earned $0.28 earnings per share. On average, analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend was Wednesday, May 14th. Kenvue's payout ratio is 149.09%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on KVUE shares. Citigroup lowered their target price on shares of Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a research note on Tuesday. Redburn Atlantic initiated coverage on shares of Kenvue in a research note on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price target for the company. UBS Group lifted their price target on shares of Kenvue from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Barclays decreased 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 note on Tuesday. Finally, Bank of America decreased their price target on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $24.88.

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.