Wellington Management Group LLP Decreases Stock Holdings in Kenvue Inc. $KVUE

Key Points

• Wellington Management Group LLP has reduced its holdings in Kenvue Inc. by 10.1%, owning 61,469,180 shares after selling 6,894,254 shares in the first quarter.
• Research analysts have lowered their price targets for Kenvue, with Citigroup and Royal Bank of Canada both setting new targets of $22.00.
• Kenvue recently declared a quarterly dividend of $0.2075 per share, up from the previous rate, translating to an annualized yield of 3.9%.

Wellington Management Group LLP decreased its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 10.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,469,180 shares of the company's stock after selling 6,894,254 shares during the quarter. Wellington Management Group LLP owned 3.20% of Kenvue worth $1,474,031,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of KVUE. Pittenger & Anderson Inc. purchased a new position in Kenvue in the 1st quarter worth about $30,000. TruNorth Capital Management LLC purchased a new stake in shares of Kenvue during the 1st quarter valued at about $36,000. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Kenvue by 378.5% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,627 shares of the company's stock valued at $39,000 after purchasing an additional 1,287 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Kenvue by 120.6% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock valued at $41,000 after purchasing an additional 929 shares during the last quarter. Finally, Clarity Asset Management Inc. purchased a new stake in shares of Kenvue during the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 97.64% of the company's stock.

Kenvue Price Performance

KVUE stock traded up $0.1550 during midday trading on Friday, hitting $21.5950. The company's stock had a trading volume of 8,620,226 shares, compared to its average volume of 18,631,350. Kenvue Inc. has a 12 month low of $19.75 and a 12 month high of $25.17. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $41.44 billion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 3.08 and a beta of 0.83. The company has a 50 day moving average of $21.52 and a two-hundred day moving average of $22.42.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.01. Kenvue had a return on equity of 20.06% and a net margin of 9.37%.The business had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.94 billion. During the same period in the prior year, the company posted $0.32 EPS. The firm's revenue for the quarter was down 4.0% compared to the same quarter last year. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. On average, analysts expect that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be paid a $0.2075 dividend. This represents a $0.83 annualized dividend and a yield of 3.8%. The ex-dividend date is Wednesday, August 13th. This is a positive change from Kenvue's previous quarterly dividend of $0.21. Kenvue's dividend payout ratio is currently 112.16%.

Analysts Set New Price Targets

Several research firms have recently commented on KVUE. JPMorgan Chase & Co. reduced their price target on shares of Kenvue from $27.00 to $26.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. Citigroup cut their price objective on Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Zacks Research upgraded Kenvue to a "strong sell" rating in a research note on Monday, August 11th. Royal Bank Of Canada cut their price objective on Kenvue from $24.00 to $22.00 and set a "sector perform" rating for the company in a research note on Friday, August 8th. Finally, Bank of America cut their price objective on Kenvue from $27.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. Five investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $24.38.

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.