Adage Capital Partners GP L.L.C. Sells 2,012,173 Shares of Kenvue Inc. (NYSE:KVUE)

Adage Capital Partners GP L.L.C. cut its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 74.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 683,258 shares of the company's stock after selling 2,012,173 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Kenvue were worth $14,588,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in KVUE. Grove Bank & Trust lifted its stake in Kenvue by 438.4% in the fourth 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 fourth quarter valued at approximately $29,000. SRS Capital Advisors Inc. lifted 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 buying an additional 571 shares during the period. Fortitude Family Office LLC lifted its stake in Kenvue by 106.6% in the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company's stock valued at $32,000 after buying an additional 777 shares during the period. Finally, Versant Capital Management Inc lifted its stake in Kenvue by 300.8% in the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company's stock valued at $41,000 after buying an additional 1,441 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Performance

KVUE traded up $0.29 during midday trading on Tuesday, reaching $23.40. The company had a trading volume of 13,526,275 shares, compared to its average volume of 17,100,423. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The stock has a market cap of $44.90 billion, a PE ratio of 44.15, a P/E/G ratio of 2.62 and a beta of 1.02. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46. The business has a 50-day moving average price of $23.04 and a two-hundred day moving average price of $22.46.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. On average, sell-side analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm 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. This represents a $0.82 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Wednesday, May 14th. Kenvue's dividend payout ratio (DPR) is currently 154.72%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. UBS Group dropped their price target on Kenvue from $23.00 to $21.00 and set a "neutral" rating on the stock in a research note on Friday, February 7th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $24.00 target price on shares of Kenvue in a report on Monday, February 3rd. Evercore ISI began coverage on shares of Kenvue in a research note on Monday, March 24th. They set an "in-line" rating and a $25.00 price target for the company. Citigroup raised their price objective on shares of Kenvue from $21.00 to $22.00 and gave the company a "neutral" rating in a research note on Monday, April 14th. Finally, Piper Sandler boosted their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Eight analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Kenvue has an average rating of "Hold" and a consensus price target of $24.42.

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.