Saybrook Capital NC Has $6.67 Million Position in Kenvue Inc. $KVUE

Key Points

• Saybrook Capital NC cut its Kenvue stake by 19.3% in Q4, selling 92,616 shares and ending the quarter with 386,688 shares worth $6.67 million (about 1.7% of its portfolio and its 17th largest holding).
• Institutional investors own 97.64% of Kenvue, with Vanguard holding 234,951,484 shares (~$4.05 billion) and several other large funds materially increasing positions last quarter.
• Kenvue carries a MarketBeat consensus rating of Hold with a $19.33 target; the company recently beat quarterly EPS and revenue estimates and pays a quarterly dividend that yields 4.7% but has a high payout ratio of 107.79%.

Saybrook Capital NC lessened its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 19.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 386,688 shares of the company's stock after selling 92,616 shares during the quarter. Kenvue accounts for approximately 1.7% of Saybrook Capital NC's portfolio, making the stock its 17th largest position. Saybrook Capital NC's holdings in Kenvue were worth $6,670,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Kenvue by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company's stock worth $4,052,913,000 after acquiring an additional 1,604,040 shares in the last quarter. American Century Companies Inc. lifted its position in Kenvue by 22.4% in the 3rd quarter. American Century Companies Inc. now owns 37,046,660 shares of the company's stock valued at $601,267,000 after acquiring an additional 6,781,640 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Kenvue by 13.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 23,127,234 shares of the company's stock valued at $375,377,000 after purchasing an additional 2,747,952 shares during the last quarter. Van ECK Associates Corp boosted its stake in Kenvue by 101.3% during the 3rd quarter. Van ECK Associates Corp now owns 18,361,581 shares of the company's stock valued at $298,008,000 after purchasing an additional 9,240,434 shares during the last quarter. Finally, Amundi increased its holdings in 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 purchasing an additional 3,135,871 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Canaccord Genuity Group increased their price objective on Kenvue from $17.00 to $18.00 and gave the stock a "hold" rating in a research note on Wednesday, February 18th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Kenvue in a research report on Wednesday, April 8th. Argus upgraded Kenvue to a "hold" rating in a report on Friday, March 6th. Citigroup lowered their price target on Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, April 15th. Finally, Barclays dropped their price objective on Kenvue from $19.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 14th. Three research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, Kenvue presently has a consensus rating of "Hold" and a consensus target price of $19.33.

Kenvue Trading Down 0.0%

NYSE:KVUE opened at $17.49 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.96. The firm has a market cap of $33.57 billion, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 3.97 and a beta of 0.61. Kenvue Inc. has a 52 week low of $14.02 and a 52 week high of $25.17. The firm has a 50-day moving average price of $17.82 and a two-hundred day moving average price of $17.16.

Kenvue (NYSE:KVUE - Get Free Report) last posted its earnings results on Tuesday, February 17th. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.22 by $0.05. The firm had revenue of $3.78 billion for the quarter, compared to analysts' expectations of $3.68 billion. Kenvue had a net margin of 9.72% and a return on equity of 19.72%. The company's quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 EPS. On average, equities analysts expect that Kenvue Inc. will post 1.1 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were given a $0.2075 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.83 annualized dividend and a yield of 4.7%. Kenvue's 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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