Pacer Advisors Inc. Sells 58,293 Shares of Kenvue Inc. (NYSE:KVUE)

Key Points

• Pacer Advisors Inc. has reduced its holdings in Kenvue Inc. by 37.3%, selling 58,293 shares during the first quarter, leaving it with a total of 97,919 shares valued at $2,348,000.
• Several hedge funds, including Assetmark Inc. and Cetera Investment Advisers, have increased their stakes in Kenvue, indicating a strong interest from institutional investors as they own 97.64% of the stock.
• Analysts have revised their price targets on Kenvue shares, with an average target of $24.79 and a general consensus rating of "Hold", reflecting mixed sentiment in the market.

Pacer Advisors Inc. trimmed its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 37.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 97,919 shares of the company's stock after selling 58,293 shares during the period. Pacer Advisors Inc.'s holdings in Kenvue were worth $2,348,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pittenger & Anderson Inc. bought a new position in shares of Kenvue during the 1st quarter worth about $30,000. TruNorth Capital Management LLC bought a new position in Kenvue during the 1st quarter valued at about $36,000. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in Kenvue by 120.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock valued at $41,000 after purchasing an additional 929 shares during the last quarter. Clarity Asset Management Inc. bought a new position in Kenvue during the 4th quarter valued at about $45,000. Finally, Continuum Advisory LLC lifted its holdings in 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 last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Trading Up 0.7%

NYSE KVUE traded up $0.16 during trading on Friday, reaching $21.60. 13,846,355 shares of the stock traded hands, compared to its average volume of 18,076,148. The firm has a market cap of $41.44 billion, a price-to-earnings ratio of 39.27, a price-to-earnings-growth ratio of 3.59 and a beta of 0.83. The stock's 50-day moving average price is $21.87 and its 200 day moving average price is $22.37. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. Kenvue Inc. has a fifty-two week low of $18.10 and a fifty-two week high of $25.17.

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. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. The firm had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.69 billion. During the same quarter in the previous year, the company earned $0.28 earnings per share. The business's revenue for the quarter was down 3.9% on a year-over-year basis. Analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be paid a $0.2075 dividend. The ex-dividend date of this dividend is Wednesday, August 13th. This is an increase from Kenvue's previous quarterly dividend of $0.21. This represents a $0.83 dividend on an annualized basis and a yield of 3.8%. Kenvue's payout ratio is presently 149.09%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on KVUE shares. JPMorgan Chase & Co. cut 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 cut 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. UBS Group lowered their price objective on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. Barclays lowered their price objective on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Finally, Redburn Atlantic started coverage on shares of Kenvue in a research report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price objective for the company. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $24.79.

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.