Novare Capital Management LLC Sells 466,025 Shares of Kenvue Inc. $KVUE

Key Points

• Novare Capital Management sharply reduced its Kenvue stake in the fourth quarter, selling 466,025 shares and cutting its position by 96.7% to 15,770 shares worth about $272,000.
• Kenvue reported better-than-expected quarterly results, with EPS of $0.32 versus $0.27 expected and revenue of $3.91 billion, up 4.5% year over year.
• The company declared a quarterly dividend of $0.2075 per share, implying an annualized yield of 4.9%, while analysts currently have a consensus Hold rating and a $19.33 target price.

Novare Capital Management LLC decreased its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 96.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,770 shares of the company's stock after selling 466,025 shares during the quarter. Novare Capital Management LLC's holdings in Kenvue were worth $272,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. NBT Bank N A NY lifted its position in Kenvue by 180.3% during the third quarter. NBT Bank N A NY now owns 1,564 shares of the company's stock worth $25,000 after purchasing an additional 1,006 shares during the period. Cornerstone Planning Group LLC lifted its position in Kenvue by 705.2% during the third quarter. Cornerstone Planning Group LLC now owns 1,554 shares of the company's stock worth $25,000 after purchasing an additional 1,361 shares during the period. Physician Wealth Advisors Inc. lifted its position in Kenvue by 67.5% during 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 period. Golden State Wealth Management LLC lifted its position in Kenvue by 150.1% during the third quarter. Golden State Wealth Management LLC now owns 1,983 shares of the company's stock worth $32,000 after purchasing an additional 1,190 shares during the period. Finally, SBI Securities Co. Ltd. lifted its position in Kenvue by 82.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company's stock worth $39,000 after purchasing an additional 1,027 shares during the period. Institutional investors own 97.64% of the company's stock.

Insider Activity

In other news, General Counsel Matthew Orlando sold 38,491 shares of the company's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $17.66, for a total value of $679,751.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.59% of the stock is owned by corporate insiders.

Kenvue Trading Down 0.6%

Shares of Kenvue stock opened at $17.09 on Friday. The firm has a market capitalization of $32.81 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 1.30 and a beta of 0.55. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.67. The firm's 50 day moving average is $17.48 and its 200 day moving average is $17.32. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $24.35.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results 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%. The firm's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 EPS. Equities research analysts forecast that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be issued a dividend of $0.2075 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $0.83 annualized dividend and a dividend yield of 4.9%. Kenvue's payout ratio is 97.65%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KVUE. Zacks Research raised shares of Kenvue from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 8th. Argus raised shares of Kenvue to a "hold" rating in a research report on Friday, March 6th. Citigroup cut their price objective on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, April 15th. Weiss Ratings raised shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 8th. Finally, UBS Group cut their price objective on shares of Kenvue from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $19.33.

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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