Kenvue Inc. (NYSE:KVUE) Stock Holdings Lessened by Gates Capital Management Inc.

Gates Capital Management Inc. reduced its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 16.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,460,529 shares of the company's stock after selling 1,074,552 shares during the quarter. Kenvue accounts for 2.2% of Gates Capital Management Inc.'s portfolio, making the stock its 13th largest position. Gates Capital Management Inc. owned about 0.28% of Kenvue worth $116,582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Kenvue during the fourth quarter valued at approximately $521,348,000. Franklin Resources Inc. increased its position in Kenvue by 61.5% in the fourth quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company's stock worth $912,059,000 after buying an additional 16,269,721 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Kenvue by 12.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company's stock valued at $2,085,070,000 after purchasing an additional 10,682,003 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Kenvue by 3.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company's stock valued at $5,249,665,000 after buying an additional 8,211,748 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Kenvue by 36.9% during the 4th quarter. Boston Partners now owns 23,595,963 shares of the company's stock valued at $503,145,000 after purchasing an additional 6,366,097 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Stock Down 1.2%

Shares of Kenvue stock traded down $0.29 during trading hours on Tuesday, hitting $23.71. The company had a trading volume of 1,879,151 shares, compared to its average volume of 17,062,879. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $25.17. 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 company has a market cap of $45.48 billion, a P/E ratio of 44.84, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The company's 50-day moving average is $23.14 and its two-hundred day moving average is $22.56.

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

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Wednesday, May 14th. Kenvue's payout ratio is currently 149.09%.

Analyst Ratings Changes

KVUE has been the subject of a number of research reports. UBS Group boosted their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday. Royal Bank of Canada reissued a "sector perform" rating and issued a $24.00 target price on shares of Kenvue in a research note on Monday, February 3rd. Redburn Atlantic assumed coverage on shares of Kenvue in a research note on Thursday, April 10th. They set a "neutral" rating and a $23.50 target price on the stock. Barclays raised their price objective on Kenvue from $22.00 to $23.00 and gave the company an "equal weight" rating in a research report on Monday. Finally, 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. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $25.33.

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.