Kenvue Inc. (NYSE:KVUE) Shares Sold by Sound Income Strategies LLC

Sound Income Strategies LLC decreased its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 96.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,639 shares of the company's stock after selling 539,007 shares during the period. Sound Income Strategies LLC's holdings in Kenvue were worth $423,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KVUE. Fulton Bank N.A. grew its stake in shares of Kenvue by 0.6% in the 1st quarter. Fulton Bank N.A. now owns 78,888 shares of the company's stock valued at $1,892,000 after purchasing an additional 465 shares during the last quarter. Deseret Mutual Benefit Administrators increased its stake in Kenvue by 29.0% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company's stock valued at $54,000 after buying an additional 568 shares during the period. SRS Capital Advisors Inc. increased its stake in Kenvue by 67.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock valued at $30,000 after buying an additional 571 shares during the period. Keystone Financial Group raised its position in Kenvue by 4.8% during the 4th quarter. Keystone Financial Group now owns 12,736 shares of the company's stock worth $272,000 after buying an additional 578 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in shares of Kenvue by 2.4% in the 4th quarter. First Horizon Advisors Inc. now owns 25,047 shares of the company's stock worth $535,000 after acquiring an additional 580 shares during the period. Hedge funds and other institutional investors own 97.64% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Redburn Atlantic started coverage on shares of Kenvue in a report on Thursday, April 10th. They set a "neutral" rating and a $23.50 price target for the company. Canaccord Genuity Group increased their target price on Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Evercore ISI started coverage on Kenvue in a research note on Monday, March 24th. They issued an "in-line" rating and a $25.00 price target on the stock. UBS Group increased their price objective on Kenvue from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Finally, Piper Sandler raised their target price on Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Kenvue currently has an average rating of "Hold" and a consensus price target of $25.33.

Kenvue Trading Up 0.9%

NYSE:KVUE traded up $0.20 on Monday, reaching $21.65. The stock had a trading volume of 16,345,208 shares, compared to its average volume of 17,014,840. The company has a market cap of $41.53 billion, a price-to-earnings ratio of 40.84, a P/E/G ratio of 2.62 and a beta of 0.98. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The firm's fifty day moving average is $23.03 and its two-hundred day moving average is $22.48. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.01. The business had revenue of $3.74 billion for the quarter, compared to analysts' expectations of $3.69 billion. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. The business's revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 earnings per share. Equities analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were issued a $0.205 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.79%. Kenvue's dividend payout ratio (DPR) is presently 149.09%.

About Kenvue

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.