Sumitomo Mitsui Trust Group Inc. Sells 343,749 Shares of Kenvue Inc. $KVUE

Key Points

• Sumitomo Mitsui Trust Group Inc. reduced its Kenvue stake by 6.6% in the first quarter, selling 343,749 shares and ending with 4,873,809 shares valued at about $84.0 million.
• Kenvue reported better-than-expected Q1 results, posting EPS of $0.32 versus the $0.27 estimate and revenue of $3.91 billion versus $3.84 billion expected.
• The company also paid a quarterly dividend of $0.2075 per share, implying an annualized yield of 4.3%, while Wall Street currently rates the stock a consensus “Hold” with a $19.33 price target.

Sumitomo Mitsui Trust Group Inc. cut its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 6.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,873,809 shares of the company's stock after selling 343,749 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of Kenvue worth $84,024,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Montag A & Associates Inc. raised its stake in Kenvue by 6.3% during the first quarter. Montag A & Associates Inc. now owns 10,156 shares of the company's stock worth $175,000 after acquiring an additional 600 shares in the last quarter. Cornerstone Wealth Group LLC increased its position in Kenvue by 5.9% during the 1st quarter. Cornerstone Wealth Group LLC now owns 10,810 shares of the company's stock worth $187,000 after purchasing an additional 606 shares in the last quarter. Physician Wealth Advisors Inc. increased its position in Kenvue by 67.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock worth $26,000 after purchasing an additional 618 shares in the last quarter. Mill Creek Capital Advisors LLC lifted its stake in Kenvue by 0.6% in the 4th quarter. Mill Creek Capital Advisors LLC now owns 124,213 shares of the company's stock valued at $2,143,000 after purchasing an additional 701 shares during the last quarter. Finally, B & T Capital Management DBA Alpha Capital Management lifted its stake in Kenvue by 0.3% in the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 234,664 shares of the company's stock valued at $4,048,000 after purchasing an additional 712 shares during the last quarter. Institutional investors own 97.64% of the company's stock.

Insider Buying and Selling

In other Kenvue news, General Counsel Matthew Orlando sold 38,491 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $17.66, for a total transaction of $679,751.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.59% of the stock is owned by insiders.

Kenvue Trading Up 1.6%

NYSE:KVUE traded up $0.32 during trading hours on Friday, hitting $19.50. 9,451,469 shares of the company were exchanged, compared to its average volume of 18,740,484. The stock has a market capitalization of $37.43 billion, a price-to-earnings ratio of 22.94, a price-to-earnings-growth ratio of 1.46 and a beta of 0.47. Kenvue Inc. has a one year low of $14.02 and a one year high of $22.87. The company has a fifty day simple moving average of $18.06 and a 200 day simple moving average of $17.79. The company has a current ratio of 0.98, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.05. The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.84 billion. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.The business's revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 EPS. Sell-side analysts expect that Kenvue Inc. will post 1.16 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were issued a $0.2075 dividend. The ex-dividend date was Wednesday, May 13th. This represents a $0.83 annualized dividend and a yield of 4.3%. Kenvue's dividend payout ratio is presently 97.65%.

Wall Street Analyst Weigh In

KVUE has been the topic of a number of research analyst reports. Citigroup decreased their target price on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 15th. UBS Group dropped their price target on Kenvue from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. Barclays cut their price objective on Kenvue from $19.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 14th. Weiss Ratings upgraded Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 15th. Finally, Zacks Research cut Kenvue from a "strong-buy" rating to a "hold" rating in a report on Tuesday. Three analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat.com, Kenvue currently has a consensus rating of "Hold" and a consensus price target of $19.33.

Kenvue Company 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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