Alliancebernstein L.P. Cuts Position in Kenvue Inc. (NYSE:KVUE)

Alliancebernstein L.P. cut its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,586,484 shares of the company's stock after selling 342,715 shares during the period. Alliancebernstein L.P. owned 0.13% of Kenvue worth $55,221,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Benjamin Edwards Inc. bought a new stake in shares of Kenvue during the third quarter valued at approximately $1,323,000. Janus Henderson Group PLC boosted its position in shares of Kenvue by 40.6% during the third quarter. Janus Henderson Group PLC now owns 219,576 shares of the company's stock valued at $5,080,000 after purchasing an additional 63,400 shares in the last quarter. Investment Management Corp of Ontario boosted its position in shares of Kenvue by 48.9% during the third quarter. Investment Management Corp of Ontario now owns 63,627 shares of the company's stock valued at $1,472,000 after purchasing an additional 20,900 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of Kenvue by 12.8% during the third quarter. Integrated Wealth Concepts LLC now owns 35,022 shares of the company's stock valued at $810,000 after purchasing an additional 3,962 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Kenvue by 311.3% during the third quarter. Quarry LP now owns 3,241 shares of the company's stock valued at $75,000 after purchasing an additional 2,453 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

KVUE has been the topic of several analyst reports. UBS Group dropped their target price on Kenvue from $23.00 to $21.00 and set a "neutral" rating on the stock in a report on Friday, February 7th. Redburn Atlantic initiated coverage on Kenvue in a report on Thursday. They issued a "neutral" rating and a $23.50 target price on the stock. Evercore ISI initiated coverage on Kenvue in a report on Monday, March 24th. They issued an "in-line" rating and a $25.00 target price on the stock. Deutsche Bank Aktiengesellschaft downgraded Kenvue from a "buy" rating to a "hold" rating and dropped their target price for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. Finally, Piper Sandler boosted their target price on Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Kenvue has a consensus rating of "Hold" and a consensus price target of $23.96.

Kenvue Stock Down 0.3 %

Shares of NYSE:KVUE traded down $0.08 on Thursday, reaching $21.70. The company had a trading volume of 2,999,925 shares, compared to its average volume of 16,863,252. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46. The firm's 50 day simple moving average is $22.61 and its 200-day simple moving average is $22.42. The firm has a market capitalization of $41.48 billion, a PE ratio of 40.96, a PEG ratio of 2.62 and a beta of 1.02. 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 (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. As a group, analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were given a $0.205 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.78%. Kenvue's payout ratio is 154.72%.

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.