Nicholas Hoffman & Company LLC. Sells 13,410 Shares of Kenvue Inc. (NYSE:KVUE)

Key Points

• Nicholas Hoffman & Company LLC. reduced its stake in Kenvue Inc. by 23% during the first quarter, now holding a total of 44,980 shares worth approximately $1.08 million.
• Kenvue recently reported $0.24 EPS for the quarter, slightly exceeding analyst expectations, and recorded a 6.9% net margin despite a 3.9% revenue decline year-over-year.
• The company declared an increased quarterly dividend of $0.2075, yielding 3.8%, to be paid on August 27th, indicating strong shareholder returns even amid challenges.

Nicholas Hoffman & Company LLC. decreased its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 23.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,980 shares of the company's stock after selling 13,410 shares during the period. Nicholas Hoffman & Company LLC.'s holdings in Kenvue were worth $1,079,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of KVUE. Waterloo Capital L.P. acquired a new stake in shares of Kenvue during the fourth quarter worth approximately $288,000. Cerity Partners LLC increased its holdings in shares of Kenvue by 0.3% in the fourth quarter. Cerity Partners LLC now owns 793,970 shares of the company's stock valued at $17,090,000 after purchasing an additional 2,529 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Kenvue by 13.1% in the fourth quarter. Invesco Ltd. now owns 16,986,272 shares of the company's stock valued at $362,657,000 after purchasing an additional 1,961,051 shares in the last quarter. Advisory Services Network LLC increased its holdings in shares of Kenvue by 2.9% in the fourth quarter. Advisory Services Network LLC now owns 52,281 shares of the company's stock valued at $1,116,000 after purchasing an additional 1,469 shares in the last quarter. Finally, Scotia Capital Inc. increased its holdings in shares of Kenvue by 3.2% in the fourth quarter. Scotia Capital Inc. now owns 202,825 shares of the company's stock valued at $4,331,000 after purchasing an additional 6,252 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price target on shares of Kenvue from $27.00 to $26.00 and set an "overweight" rating for the company in a report on Friday, July 25th. Bank of America lowered their price target on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Canaccord Genuity Group lowered their price target on shares of Kenvue from $29.00 to $26.00 and set a "buy" rating for the company in a report on Friday. Citigroup lowered their price target on shares of Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Finally, Redburn Atlantic assumed coverage on shares of Kenvue in a report on Thursday, April 10th. They set a "neutral" rating and a $23.50 target price for the company. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $24.38.

Kenvue Trading Down 1.8%

KVUE traded down $0.39 during trading on Friday, reaching $21.37. 25,925,024 shares of the company's stock were exchanged, compared to its average volume of 21,613,902. The company's fifty day moving average price is $21.62 and its 200-day moving average price is $22.40. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 0.86. Kenvue Inc. has a fifty-two week low of $19.75 and a fifty-two week high of $25.17. The firm has a market capitalization of $41.00 billion, a PE ratio of 28.88, a P/E/G ratio of 3.65 and a beta of 0.83.

Kenvue (NYSE:KVUE - Get Free Report) last announced 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. The company had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.94 billion. Kenvue had a net margin of 9.37% and a return on equity of 20.36%. The business's quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the firm posted $0.32 earnings per share. As a group, equities analysts forecast that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be given a dividend of $0.2075 per share. 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%. The ex-dividend date of this dividend is Wednesday, August 13th. Kenvue's payout ratio is 149.09%.

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.