OMERS ADMINISTRATION Corp Cuts Holdings in Kenvue Inc. (NYSE:KVUE)

OMERS ADMINISTRATION Corp reduced its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 8.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 571,329 shares of the company's stock after selling 54,352 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Kenvue were worth $12,198,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Grove Bank & Trust increased its holdings in shares of Kenvue by 438.4% during the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company's stock worth $25,000 after buying an additional 947 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in Kenvue in the fourth quarter valued at approximately $29,000. SRS Capital Advisors Inc. boosted its stake in Kenvue by 67.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock valued at $30,000 after acquiring an additional 571 shares during the last quarter. Asset Planning Inc bought a new position in Kenvue in the fourth quarter valued at approximately $42,000. Finally, Clarity Asset Management Inc. bought a new position in shares of Kenvue during the fourth quarter worth $45,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on KVUE. Evercore ISI assumed coverage on shares of Kenvue in a 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 price objective on shares of Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Citigroup upped their price objective on shares of Kenvue from $22.00 to $24.50 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Royal Bank of Canada restated a "sector perform" rating and issued a $24.00 price target on shares of Kenvue in a research report on Monday, February 3rd. Finally, Piper Sandler upped their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $25.33.

Kenvue Stock Performance

Shares of NYSE:KVUE traded up $0.27 during midday trading on Friday, reaching $24.15. The company had a trading volume of 19,921,749 shares, compared to its average volume of 16,494,001. The company's 50 day moving average price is $23.16 and its 200 day moving average price is $22.59. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $25.17. The stock has a market cap of $46.34 billion, a P/E ratio of 45.57, a P/E/G ratio of 2.62 and a beta of 1.02.

Kenvue (NYSE:KVUE - Get Free Report) last posted its 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. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The company's revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share. As a group, sell-side analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.82 annualized dividend and a yield of 3.40%. Kenvue's dividend payout ratio is currently 149.09%.

Kenvue 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.