ProShare Advisors LLC Lowers Holdings in Kenvue Inc. (NYSE:KVUE)

ProShare Advisors LLC trimmed its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 15.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,433,858 shares of the company's stock after selling 1,538,125 shares during the quarter. ProShare Advisors LLC owned 0.44% of Kenvue worth $180,063,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Grove Bank & Trust lifted its holdings in shares of Kenvue by 438.4% in the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company's stock valued at $25,000 after buying an additional 947 shares during the period. Geneos Wealth Management Inc. acquired a new position in Kenvue in the 4th quarter worth about $29,000. SRS Capital Advisors Inc. raised its holdings in Kenvue by 67.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock worth $30,000 after purchasing an additional 571 shares during the period. Asset Planning Inc acquired a new position in Kenvue in the 4th quarter worth about $42,000. Finally, Clarity Asset Management Inc. acquired a new position in Kenvue in the 4th quarter worth about $45,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Price Performance

Shares of Kenvue stock traded up $0.27 during mid-day trading on Friday, reaching $24.15. 19,921,749 shares of the stock traded hands, compared to its average volume of 16,494,001. The business has a 50-day moving average of $23.16 and a 200 day moving average of $22.59. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $25.17. The stock has a market capitalization of $46.34 billion, a PE ratio of 45.57, a PEG ratio of 2.62 and a beta of 1.02. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

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

Kenvue Dividend Announcement

The business also recently declared 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. The ex-dividend date is Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.40%. Kenvue's dividend payout ratio (DPR) is presently 149.09%.

Analysts Set New Price Targets

A number of research firms recently weighed in on KVUE. Redburn Atlantic began coverage on Kenvue in a report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price target for the company. Barclays upped their price target on Kenvue from $22.00 to $23.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Piper Sandler upped their price target on Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Evercore ISI began coverage on Kenvue in a report on Monday, March 24th. They issued an "in-line" rating and a $25.00 price target for the company. Finally, Canaccord Genuity Group upped their price target on Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Kenvue presently has a consensus rating of "Hold" and an average price target of $25.33.

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.