Pictet Asset Management Holding SA Reduces Stock Position in Kenvue Inc. $KVUE

Key Points

• Pictet Asset Management trimmed its stake in Kenvue by 6.0% in Q4, selling 70,627 shares and ending the quarter with 1,098,669 shares (about 0.06% of the company) valued at roughly $18.95 million; overall institutional ownership is very high at 97.64%, led by large holders like Vanguard (234.95 million shares).
• Kenvue's analyst consensus is a "Hold" with an average price target of $19.33, after several firms cut price objectives or downgraded ratings (e.g., UBS and Jefferies reduced targets to $18 and moved to neutral/hold).
• The company reported an EPS beat ($0.27 vs. $0.22 est.) and announced a quarterly dividend of $0.2075 (annualized $0.83) implying a 4.8% yield, though the dividend payout ratio is a high 107.79%.

Pictet Asset Management Holding SA trimmed its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,098,669 shares of the company's stock after selling 70,627 shares during the period. Pictet Asset Management Holding SA owned about 0.06% of Kenvue worth $18,952,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Physician Wealth Advisors Inc. raised its holdings in Kenvue by 67.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock valued at $26,000 after acquiring an additional 618 shares in the last quarter. Facet Wealth Inc. bought a new stake in shares of Kenvue in the 4th quarter worth about $449,000. Advisors Capital Management LLC raised its stake in shares of Kenvue by 17.8% in the 4th quarter. Advisors Capital Management LLC now owns 1,908,171 shares of the company's stock valued at $32,916,000 after purchasing an additional 288,604 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Kenvue by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company's stock valued at $4,052,913,000 after purchasing an additional 1,604,040 shares in the last quarter. Finally, Concurrent Investment Advisors LLC bought a new position in shares of Kenvue during the fourth quarter worth about $225,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on KVUE shares. UBS Group lowered their price objective on Kenvue from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, April 7th. Argus upgraded Kenvue to a "hold" rating in a research report on Friday, March 6th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Kenvue in a report on Wednesday, April 8th. Canaccord Genuity Group upped their price target on Kenvue from $17.00 to $18.00 and gave the company a "hold" rating in a research report on Wednesday, February 18th. Finally, Jefferies Financial Group cut Kenvue from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $23.00 to $18.00 in a research note on Friday, January 30th. Three equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, Kenvue has a consensus rating of "Hold" and an average target price of $19.33.

Kenvue Price Performance

KVUE opened at $17.44 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.96 and a debt-to-equity ratio of 0.66. The company's 50-day moving average price is $17.72 and its 200 day moving average price is $17.17. Kenvue Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $25.17. The firm has a market cap of $33.48 billion, a price-to-earnings ratio of 22.65, a price-to-earnings-growth ratio of 3.98 and a beta of 0.61.

Kenvue (NYSE:KVUE - Get Free Report) last posted its earnings results on Tuesday, February 17th. The company reported $0.27 EPS for the quarter, beating the consensus estimate of $0.22 by $0.05. The company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.68 billion. Kenvue had a return on equity of 19.72% and a net margin of 9.72%.The business's revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.26 earnings per share. As a group, sell-side analysts expect that Kenvue Inc. will post 1.1 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be paid a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Wednesday, May 13th. Kenvue's dividend payout ratio is presently 107.79%.

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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