Gotham Asset Management LLC Reduces Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Gotham Asset Management LLC decreased its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 11.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,638 shares of the company's stock after selling 27,534 shares during the period. Gotham Asset Management LLC's holdings in Kenvue were worth $4,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Handelsbanken Fonder AB grew its position in shares of Kenvue by 2.9% during the fourth quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company's stock worth $15,846,000 after purchasing an additional 21,222 shares in the last quarter. Alberta Investment Management Corp raised its position in shares of Kenvue by 23.2% during the fourth quarter. Alberta Investment Management Corp now owns 582,895 shares of the company's stock valued at $12,445,000 after buying an additional 109,700 shares during the last quarter. Longbow Finance SA lifted its holdings in shares of Kenvue by 5.0% in the fourth quarter. Longbow Finance SA now owns 280,568 shares of the company's stock worth $5,990,000 after buying an additional 13,287 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Kenvue by 143.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 47,938 shares of the company's stock valued at $1,023,000 after acquiring an additional 28,216 shares in the last quarter. Finally, CORDA Investment Management LLC. increased its holdings in Kenvue by 1.4% in the 4th quarter. CORDA Investment Management LLC. now owns 1,253,096 shares of the company's stock valued at $26,754,000 after acquiring an additional 17,466 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on KVUE shares. Royal Bank of Canada restated a "sector perform" rating and set a $24.00 price objective on shares of Kenvue in a research report on Monday, February 3rd. Citigroup increased their price objective on shares of Kenvue from $22.00 to $24.50 and gave the company a "neutral" rating in a research report on Friday, May 9th. Evercore ISI initiated coverage on Kenvue in a research report on Monday, March 24th. They set an "in-line" rating and a $25.00 price objective on the stock. Canaccord Genuity Group boosted their target price on Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Finally, Barclays lifted their price objective on shares of Kenvue from $22.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. 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 data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $25.33.

Kenvue Price Performance

KVUE stock traded up $0.06 during midday trading on Tuesday, reaching $24.06. The stock had a trading volume of 4,286,979 shares, compared to its average volume of 16,470,000. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $25.17. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The company's fifty day simple moving average is $23.18 and its 200 day simple moving average is $22.60. The company has a market cap of $46.15 billion, a price-to-earnings ratio of 45.42, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the firm posted $0.28 earnings per share. The company's revenue for the quarter was down 3.9% on a year-over-year basis. As a group, sell-side analysts predict 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 will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.41%. Kenvue's dividend payout ratio is presently 149.09%.

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.