Price T Rowe Associates Inc. MD Sells 33,626,495 Shares of Kenvue Inc. $KVUE

Key Points

• Price T Rowe Associates Inc. reduced its stake in Kenvue Inc. by 13.7% in Q1, selling 33.6 million shares and now holding about 212.3 million shares worth approximately $5.09 billion.
• A significant percentage of Kenvue's stock, approximately 97.64%, is owned by institutional investors, with several firms adjusting their positions recently.
• Kenvue's shares opened at $21.63, with a 12-month low of $19.75 and a projected earnings per share of 1.14 for the current year.

Price T Rowe Associates Inc. MD lowered its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 13.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 212,259,423 shares of the company's stock after selling 33,626,495 shares during the quarter. Kenvue comprises 0.6% of Price T Rowe Associates Inc. MD's investment portfolio, making the stock its 23rd largest holding. Price T Rowe Associates Inc. MD owned approximately 11.06% of Kenvue worth $5,089,982,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Pittenger & Anderson Inc. purchased a new stake in Kenvue in the 1st quarter worth about $30,000. TruNorth Capital Management LLC purchased a new position in Kenvue during the 1st quarter valued at about $36,000. Clal Insurance Enterprises Holdings Ltd grew its holdings in Kenvue by 378.5% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,627 shares of the company's stock valued at $39,000 after buying an additional 1,287 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew 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 buying an additional 929 shares in the last quarter. Finally, Continuum Advisory LLC grew 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 buying an additional 1,864 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their target price on Kenvue from $27.00 to $26.00 and set an "overweight" rating for the company in a report on Friday, July 25th. Barclays reduced their target price on Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th. Bank of America reduced their target price on Kenvue from $27.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. UBS Group reduced their target price on Kenvue from $25.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Finally, Royal Bank Of Canada reduced their target price on Kenvue from $24.00 to $22.00 and set a "sector perform" rating for the company in a report on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $24.38.

Kenvue Price Performance

Shares of KVUE traded up $0.1550 during trading hours on Friday, reaching $21.5950. 8,620,226 shares of the company's stock traded hands, compared to its average volume of 18,631,350. The stock has a market cap of $41.44 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 3.10 and a beta of 0.83. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The firm's 50 day simple moving average is $21.52 and its 200-day simple moving average is $22.43. Kenvue Inc. has a 12 month low of $19.75 and a 12 month high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. The firm had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.94 billion. Kenvue had a return on equity of 20.06% and a net margin of 9.37%.The company's revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the company posted $0.32 EPS. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. Equities analysts expect that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be given a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Wednesday, August 13th. This is a positive change from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio is presently 112.16%.

Kenvue 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.