Sei Investments Co. Sells 55,003 Shares of Kenvue Inc. $KVUE

Key Points

• Sei Investments Co. cut its Kenvue stake by 12.3% in the first quarter, selling 55,003 shares and retaining 392,296 shares valued at approximately $6.76 million.
• Institutional investors own 97.64% of Kenvue, while General Counsel Matthew Orlando sold 38,491 shares for about $679,751. Other funds, including Lido Advisors and Levin Capital Strategies, increased their positions.
• Kenvue’s shares opened at $18.98, with analysts maintaining a consensus “Hold” rating and an average price target of $19.58. The company beat quarterly EPS and revenue estimates and declared a quarterly dividend of $0.21, equivalent to a 4.4% annualized yield.

Sei Investments Co. decreased its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 392,296 shares of the company's stock after selling 55,003 shares during the period. Sei Investments Co.'s holdings in Kenvue were worth $6,763,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Lido Advisors LLC increased its stake in Kenvue by 13.0% during the first quarter. Lido Advisors LLC now owns 260,711 shares of the company's stock worth $4,495,000 after acquiring an additional 29,986 shares during the last quarter. Levin Capital Strategies L.P. lifted its stake in shares of Kenvue by 245.4% in the 1st quarter. Levin Capital Strategies L.P. now owns 196,036 shares of the company's stock valued at $3,380,000 after purchasing an additional 139,279 shares during the last quarter. Transmarket Holdings LP purchased a new position in shares of Kenvue in the 1st quarter worth approximately $322,000. PNC Financial Services Group Inc. boosted its holdings in shares of Kenvue by 5.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 467,601 shares of the company's stock worth $8,061,000 after purchasing an additional 23,379 shares during the period. Finally, Oslo Pensjonsforsikring AS bought a new position in shares of Kenvue during the 1st quarter valued at approximately $467,000. Hedge funds and other institutional investors own 97.64% of the company's stock.

Insider Activity

In related news, General Counsel Matthew Orlando sold 38,491 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $17.66, for a total value of $679,751.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KVUE. Zacks Research downgraded Kenvue from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, July 7th. Citigroup cut their price objective on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 15th. Weiss Ratings raised shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, June 15th. Wall Street Zen upgraded shares of Kenvue to a "buy" rating in a report on Sunday, July 12th. Finally, UBS Group lifted their price target on shares of Kenvue from $18.00 to $20.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Three 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.com, the stock currently has a consensus rating of "Hold" and an average price target of $19.58.

Kenvue Trading Down 1.3%

KVUE stock opened at $18.98 on Tuesday. Kenvue Inc. has a 12 month low of $14.02 and a 12 month high of $22.28. The firm's 50-day moving average is $18.62 and its 200 day moving average is $18.03. The company has a market capitalization of $36.45 billion, a PE ratio of 22.34, a P/E/G ratio of 1.46 and a beta of 0.47. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.70.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $3.91 billion during the quarter, compared to analysts' expectations of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The firm's quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 EPS. On average, research analysts anticipate that Kenvue Inc. will post 1.16 EPS for the current year.

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Investors of record on Wednesday, August 12th will be issued a $0.21 dividend. The ex-dividend date is Wednesday, August 12th. This is a positive change from Kenvue's previous quarterly dividend of $0.21. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.4%. Kenvue's dividend payout ratio (DPR) is presently 97.65%.

About Kenvue

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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