Mutual of America Capital Management LLC Decreases Stake in Kenvue Inc. (NYSE:KVUE)

Mutual of America Capital Management LLC lowered its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 16.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,822 shares of the company's stock after selling 55,866 shares during the period. Mutual of America Capital Management LLC's holdings in Kenvue were worth $7,046,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Clarity Asset Management Inc. bought a new stake in shares of Kenvue in the fourth quarter worth $45,000. Continuum Advisory LLC grew its stake in shares of Kenvue by 2,071.1% during the 1st quarter. Continuum Advisory LLC now owns 1,954 shares of the company's stock valued at $47,000 after purchasing an additional 1,864 shares during the period. Rossby Financial LCC purchased a new stake in shares of Kenvue during the 1st quarter valued at about $52,000. Golden State Wealth Management LLC lifted its stake in shares of Kenvue by 292.0% in the 1st quarter. Golden State Wealth Management LLC now owns 3,081 shares of the company's stock worth $74,000 after purchasing an additional 2,295 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of Kenvue by 77.9% in the first quarter. Versant Capital Management Inc now owns 3,415 shares of the company's stock worth $82,000 after buying an additional 1,495 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on KVUE shares. Citigroup reduced their target price on shares of Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a report on Tuesday. Evercore ISI began coverage on Kenvue in a research note on Monday, March 24th. They issued an "in-line" rating and a $25.00 price objective for the company. Bank of America decreased their target price on Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday. Barclays cut their price target on Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a report on Tuesday. Finally, Redburn Atlantic initiated coverage on Kenvue in a research report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price target for the company. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $24.71.

Kenvue Price Performance

Shares of NYSE KVUE traded up $0.03 during mid-day trading on Thursday, reaching $21.88. The company's stock had a trading volume of 13,001,032 shares, compared to its average volume of 16,320,435. 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 Inc. has a 52 week low of $17.85 and a 52 week high of $25.17. The stock has a fifty day moving average of $22.24 and a two-hundred day moving average of $22.29. The firm has a market capitalization of $41.97 billion, a PE ratio of 39.77, a P/E/G ratio of 3.33 and a beta of 0.83.

Kenvue (NYSE:KVUE - Get Free Report) last announced 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. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the firm posted $0.28 EPS. The company's revenue was down 3.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Kenvue Inc. will post 1.14 EPS 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.