Palouse Capital Management Inc. Has $2.27 Million Holdings in Kenvue Inc. (NYSE:KVUE)

Palouse Capital Management Inc. lowered its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 14.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,613 shares of the company's stock after selling 16,000 shares during the quarter. Palouse Capital Management Inc.'s holdings in Kenvue were worth $2,269,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Kenvue in the 4th quarter valued at $521,348,000. Starboard Value LP bought a new stake in Kenvue during the 4th quarter worth about $467,864,000. Franklin Resources Inc. grew its holdings in Kenvue by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company's stock worth $912,059,000 after acquiring an additional 16,269,721 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Kenvue by 12.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company's stock worth $2,085,070,000 after acquiring an additional 10,682,003 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Kenvue by 3.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company's stock worth $5,249,665,000 after acquiring an additional 8,211,748 shares during the last quarter. Institutional investors own 97.64% of the company's stock.

Kenvue Trading Down 2.7%

Kenvue stock traded down $0.60 during midday trading on Friday, hitting $21.44. 37,242,399 shares of the stock were exchanged, compared to its average volume of 16,485,332. The company has a fifty day simple moving average of $23.03 and a two-hundred day simple moving average of $22.50. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $25.17. The stock has a market capitalization of $41.14 billion, a PE ratio of 40.46, a P/E/G ratio of 2.62 and a beta of 0.98. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Kenvue's quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS. Equities research analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.82 annualized dividend and a yield of 3.82%. Kenvue's dividend payout ratio (DPR) is currently 149.09%.

Wall Street Analyst Weigh In

KVUE has been the topic of a number of research analyst reports. Redburn Atlantic initiated coverage on shares of Kenvue in a report on Thursday, April 10th. They set a "neutral" rating and a $23.50 price objective on the stock. Citigroup raised their target price on shares of Kenvue from $22.00 to $24.50 and gave the company a "neutral" rating in a research note on Friday, May 9th. Evercore ISI started coverage on shares of Kenvue in a research note on Monday, March 24th. They issued an "in-line" rating and a $25.00 target price on the stock. Piper Sandler raised their target price on shares of Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Finally, Canaccord Genuity Group raised their target price on shares of Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Kenvue presently has an average rating of "Hold" and a consensus target price of $25.33.

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.