Kenvue Inc. (NYSE:KVUE) Shares Sold by Sandia Investment Management LP

Sandia Investment Management LP trimmed its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 35.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 22,500 shares of the company's stock after selling 12,500 shares during the quarter. Kenvue accounts for about 1.1% of Sandia Investment Management LP's investment portfolio, making the stock its 24th biggest position. Sandia Investment Management LP's holdings in Kenvue were worth $480,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on KVUE shares. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $24.00 target price on shares of Kenvue in a report on Monday, February 3rd. Redburn Atlantic started coverage on Kenvue in a report on Thursday, April 10th. They set a "neutral" rating and a $23.50 target price for the company. Canaccord Genuity Group upped their target price on Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. UBS Group upped their target price on Kenvue from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, Barclays upped their target price on Kenvue from $22.00 to $23.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, Kenvue has a consensus rating of "Hold" and a consensus price target of $25.33.

Kenvue Stock Performance

Shares of NYSE KVUE traded up $0.15 during midday trading on Tuesday, hitting $24.15. 16,356,929 shares of the company's stock were exchanged, compared to its average volume of 16,484,570. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $25.17. The firm has a market cap of $46.34 billion, a P/E ratio of 45.57, a PEG ratio of 2.62 and a beta of 1.02. The stock's 50 day moving average price is $23.18 and its 200-day moving average price is $22.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69.

Kenvue (NYSE:KVUE - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share 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 the consensus estimate of $3.69 billion. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. The firm's revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 earnings per share. Equities research analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be given a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.40%. Kenvue's dividend payout ratio (DPR) is 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.