Wesleyan Assurance Society Sells 23,687 Shares of Kenvue Inc. (NYSE:KVUE)

Wesleyan Assurance Society reduced its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 28.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,965 shares of the company's stock after selling 23,687 shares during the quarter. Wesleyan Assurance Society's holdings in Kenvue were worth $1,414,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KVUE. Cambridge Investment Research Advisors Inc. boosted its stake in Kenvue by 4.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 106,140 shares of the company's stock valued at $2,545,000 after acquiring an additional 4,034 shares during the period. Starboard Value LP acquired a new position in Kenvue in the fourth quarter valued at approximately $467,864,000. TrueMark Investments LLC boosted its stake in Kenvue by 9.3% in the fourth quarter. TrueMark Investments LLC now owns 190,595 shares of the company's stock valued at $4,069,000 after acquiring an additional 16,161 shares during the period. Kingswood Wealth Advisors LLC acquired a new position in Kenvue in the first quarter valued at approximately $413,000. Finally, Cooper Investors PTY Ltd. boosted its stake in Kenvue by 39.7% in the first quarter. Cooper Investors PTY Ltd. now owns 858,076 shares of the company's stock valued at $20,577,000 after acquiring an additional 244,043 shares during the period. 97.64% of the stock is owned by institutional investors.

Kenvue Stock Down 0.1%

NYSE:KVUE traded down $0.02 during trading hours on Thursday, reaching $22.53. The company's stock had a trading volume of 4,498,742 shares, compared to its average volume of 17,257,320. The company has a market cap of $43.22 billion, a price-to-earnings ratio of 40.96, a price-to-earnings-growth ratio of 3.78 and a beta of 0.83. Kenvue Inc. has a one year low of $18.10 and a one year high of $25.17. The business's 50-day moving average is $22.08 and its 200-day moving average is $22.32. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.60.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The firm had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.69 billion. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. Kenvue's revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 earnings per share. Equities research analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup reduced their price objective on Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Barclays reduced their price objective on Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 15th. Bank of America reduced their price objective on Kenvue from $27.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. Redburn Atlantic assumed coverage on Kenvue in a research report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 target price for the company. Finally, UBS Group dropped their price target on Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $24.71.

Kenvue Company Profile

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.