Sumitomo Mitsui DS Asset Management Company Ltd Sells 65,441 Shares of Kenvue Inc. $KVUE

Key Points

• Sumitomo Mitsui DS Asset Management reduced its Kenvue stake by 19.3%, selling 65,441 shares and retaining 273,722 shares valued at approximately $4.8 million.
• Institutional ownership remains substantial at 97.64%, with major investors including BlackRock, Pentwater Capital Management, Bank of America and Legal & General taking or expanding positions.
• Kenvue reported quarterly revenue of $3.96 billion and EPS of $0.31, slightly below analyst expectations, while maintaining a quarterly dividend of $0.21 per share. Analysts broadly rate the stock a “Hold”, with a consensus price target of $18.43.

Sumitomo Mitsui DS Asset Management Company Ltd lowered its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 19.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 273,722 shares of the company's stock after selling 65,441 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Kenvue were worth $4,834,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of KVUE. BlackRock Inc. acquired a new stake in Kenvue during the second quarter worth about $2,882,279,000. Pentwater Capital Management LP purchased a new position in Kenvue during the second quarter valued at approximately $977,094,000. Bank of America Corp DE acquired a new position in Kenvue in the second quarter valued at approximately $275,204,000. Legal & General Group Plc acquired a new position in Kenvue in the second quarter valued at approximately $253,393,000. Finally, Bank of New York Mellon Corp purchased a new stake in Kenvue in the 2nd quarter worth approximately $192,080,000. Institutional investors and hedge funds own 97.64% of the company's stock.

Kenvue Stock Performance

NYSE:KVUE opened at $19.89 on Friday. The company's 50-day moving average price is $18.34 and its 200-day moving average price is $18.26. The company has a current ratio of 1.01, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67. The company has a market cap of $38.19 billion, a P/E ratio of 22.86, a P/E/G ratio of 1.74 and a beta of 0.48. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $20.13.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.01). The company had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.97 billion. Kenvue had a net margin of 10.76% and a return on equity of 21.22%. Kenvue's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.29 EPS. On average, sell-side analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Stockholders of record on Monday, September 21st were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Monday, September 21st. Kenvue's payout ratio is currently 96.55%.

Analysts Set New Price Targets

Several research firms have recently weighed in on KVUE. Zacks Research lowered shares of Kenvue from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Kenvue in a report on Friday, September 11th. Barclays raised their price target on shares of Kenvue from $18.00 to $19.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 21st. Wall Street Zen cut shares of Kenvue from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Finally, UBS Group cut their price objective on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Tuesday, August 11th. Ten research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, Kenvue currently has a consensus rating of "Hold" and a consensus price target of $18.43.

About Kenvue

Kenvue Inc is a consumer health company that develops, markets and sells products designed to support everyday health and personal care. Its portfolio spans over-the-counter medicines, skin health and beauty, and essential health products, serving consumers through retail, e-commerce and other distribution channels.

The company's brands include Tylenol, Motrin, Zyrtec and Benadryl in self-care; Neutrogena, Aveeno and Clean & Clear in skin health and beauty; and Listerine, Johnson's and OGX in oral care, baby care and hair care.

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