RNC Capital Management LLC Sells 1,777,156 Shares of Kenvue Inc. $KVUE

Key Points

• RNC Capital Management cut its stake in Kenvue by 97.7%, selling 1,777,156 shares in Q4 and retaining 42,423 shares worth $732,000 per its SEC filing.
• Several major institutions (VanEck, American Century, AllianceBernstein, Amundi) substantially increased their Kenvue positions, leaving institutional ownership at about 97.64%.
• Kenvue beat quarterly estimates (EPS $0.27 vs. $0.22; revenue $3.78B vs. $3.68B), announced a quarterly dividend of $0.2075 (a 4.8% yield) with a payout ratio above 100%, and carries an average analyst rating of "Hold" with a consensus target of $19.33.

RNC Capital Management LLC cut its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 97.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,423 shares of the company's stock after selling 1,777,156 shares during the quarter. RNC Capital Management LLC's holdings in Kenvue were worth $732,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in KVUE. Van ECK Associates Corp increased its holdings in shares of Kenvue by 101.3% during the third quarter. Van ECK Associates Corp now owns 18,361,581 shares of the company's stock worth $298,008,000 after purchasing an additional 9,240,434 shares during the period. American Century Companies Inc. lifted its holdings in shares of Kenvue by 22.4% during the 3rd quarter. American Century Companies Inc. now owns 37,046,660 shares of the company's stock worth $601,267,000 after acquiring an additional 6,781,640 shares during the period. Mondrian Investment Partners LTD bought a new stake in shares of Kenvue during the 3rd quarter worth approximately $79,269,000. Alliancebernstein L.P. lifted its holdings in shares of Kenvue by 115.9% during the 2nd quarter. Alliancebernstein L.P. now owns 6,438,473 shares of the company's stock worth $134,757,000 after acquiring an additional 3,456,204 shares during the period. Finally, Amundi lifted its holdings in shares of Kenvue by 21.6% during the 3rd quarter. Amundi now owns 17,645,761 shares of the company's stock worth $277,012,000 after acquiring an additional 3,135,871 shares during the period. 97.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KVUE shares. UBS Group cut their price target on shares of Kenvue from $19.00 to $18.00 and set a "neutral" rating for the company in a report on Tuesday, April 7th. Canaccord Genuity Group upped their price objective on shares of Kenvue from $17.00 to $18.00 and gave the stock a "hold" rating in a research report on Wednesday, February 18th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Kenvue in a research report on Wednesday, April 8th. Argus upgraded shares of Kenvue to a "hold" rating in a research report on Friday, March 6th. Finally, Citigroup lowered their price objective on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, April 15th. Three equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, Kenvue currently has an average rating of "Hold" and a consensus target price of $19.33.

Kenvue Stock Down 1.6%

Shares of NYSE KVUE opened at $17.15 on Tuesday. The firm has a market cap of $32.92 billion, a PE ratio of 22.27, a P/E/G ratio of 3.96 and a beta of 0.55. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $25.17. The company's fifty day simple moving average is $17.72 and its 200 day simple moving average is $17.19. The company has a quick ratio of 0.68, a current ratio of 0.96 and a debt-to-equity ratio of 0.66.

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

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th will be issued a $0.2075 dividend. The ex-dividend date is Wednesday, May 13th. This represents a $0.83 annualized dividend and a dividend yield of 4.8%. Kenvue's dividend payout ratio is currently 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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