Richard Bernstein Advisors LLC Lowers Stock Position in Kenvue Inc. $KVUE

Key Points

• Richard Bernstein Advisors cut its stake in Kenvue by 55.1% in Q3, selling 134,102 shares and ending the period with 109,369 shares worth about $1.78 million.
• Kenvue director Jeffrey C. Smith purchased 3.2 million shares on December 12 at $17.37 each (~$55.6 million), boosting his holding to 27,307,632 shares.
• Kenvue recently declared a quarterly dividend of $0.2075 (annualized $0.83, ~4.6% yield) despite a dividend payout ratio of 107.79%, and reported Q results of $0.27 EPS (beat) and $3.78B revenue (+3.2% year-over-year).

Richard Bernstein Advisors LLC decreased its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 55.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,369 shares of the company's stock after selling 134,102 shares during the period. Richard Bernstein Advisors LLC's holdings in Kenvue were worth $1,775,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in KVUE. Capital Research Global Investors boosted its stake in shares of Kenvue by 0.6% during the third quarter. Capital Research Global Investors now owns 1,578,221 shares of the company's stock valued at $25,615,000 after purchasing an additional 8,940 shares during the period. Bank of Montreal Can raised its stake in Kenvue by 11.8% in the third quarter. Bank of Montreal Can now owns 1,333,377 shares of the company's stock worth $21,641,000 after buying an additional 140,253 shares in the last quarter. Legal & General Group Plc raised its position in shares of Kenvue by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 14,785,925 shares of the company's stock worth $239,976,000 after acquiring an additional 332,870 shares in the last quarter. WINTON GROUP Ltd bought a new position in Kenvue in the third quarter worth $3,870,000. Finally, Schroder Investment Management Group increased its stake in shares of Kenvue by 5.7% in the 3rd quarter. Schroder Investment Management Group now owns 139,893 shares of the company's stock worth $2,286,000 after acquiring an additional 7,547 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

Insider Buying and Selling

In related news, Director Jeffrey C. Smith purchased 3,200,000 shares of the firm's stock in a transaction dated Friday, December 12th. The stock was purchased at an average price of $17.37 per share, with a total value of $55,584,000.00. Following the completion of the purchase, the director owned 27,307,632 shares of the company's stock, valued at approximately $474,333,567.84. The trade was a 13.27% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by corporate insiders.

Kenvue Price Performance

NYSE:KVUE opened at $18.14 on Tuesday. The firm has a market capitalization of $34.76 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 4.21 and a beta of 0.51. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.96 and a quick ratio of 0.68. The business has a 50 day simple moving average of $17.87 and a 200-day simple moving average of $17.37. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 17th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. Kenvue had a net margin of 9.72% and a return on equity of 19.72%. The company had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period in the previous year, the firm earned $0.26 earnings per share. Kenvue's quarterly revenue was up 3.2% compared to the same quarter last year. Equities analysts forecast that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were paid a $0.2075 dividend. This represents a $0.83 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend was Wednesday, February 11th. Kenvue's dividend payout ratio (DPR) is currently 107.79%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on KVUE shares. Canaccord Genuity Group boosted their target price on Kenvue from $17.00 to $18.00 and gave the stock a "hold" rating in a report on Wednesday, February 18th. Zacks Research upgraded Kenvue from a "strong sell" rating to a "hold" rating in a report on Wednesday, November 26th. Jefferies Financial Group downgraded shares of Kenvue from a "buy" rating to a "hold" rating and cut their target price for the stock from $23.00 to $18.00 in a research report on Friday, January 30th. UBS Group increased their target price on Kenvue from $17.00 to $19.00 and gave the company a "neutral" rating in a report on Wednesday, February 18th. Finally, Barclays lifted their price target on shares of Kenvue from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $19.58.

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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