Kenvue Inc. (NYSE:KVUE) Position Cut by Cary Street Partners Asset Management LLC

Cary Street Partners Asset Management LLC reduced its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 90.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,123 shares of the company's stock after selling 141,395 shares during the period. Cary Street Partners Asset Management LLC's holdings in Kenvue were worth $327,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Pension Service raised its position in shares of Kenvue by 14.5% during the 3rd quarter. National Pension Service now owns 2,829,772 shares of the company's stock worth $65,453,000 after acquiring an additional 357,672 shares in the last quarter. Cohen Capital Management Inc. boosted its holdings in shares of Kenvue by 1.6% in the third quarter. Cohen Capital Management Inc. now owns 168,193 shares of the company's stock valued at $3,890,000 after acquiring an additional 2,640 shares in the last quarter. CORDA Investment Management LLC. increased its position in Kenvue by 1.3% during the 3rd quarter. CORDA Investment Management LLC. now owns 1,235,630 shares of the company's stock worth $28,580,000 after purchasing an additional 16,270 shares during the period. Allen Wealth Management LLC grew its holdings in Kenvue by 14.4% during the third quarter. Allen Wealth Management LLC now owns 76,558 shares of the company's stock worth $1,771,000 after acquiring an additional 9,618 shares during the period. Finally, New York State Common Retirement Fund grew its position in Kenvue by 57.4% during the third quarter. New York State Common Retirement Fund now owns 2,226,323 shares of the company's stock worth $51,495,000 after buying an additional 811,783 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Stock Performance

KVUE stock traded down $0.73 during trading on Wednesday, hitting $22.50. 16,721,688 shares of the company's stock traded hands, compared to its average volume of 18,099,563. The stock has a market capitalization of $43.09 billion, a price-to-earnings ratio of 40.04, a price-to-earnings-growth ratio of 2.97 and a beta of 1.36. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $23.57. The stock has a fifty day moving average price of $22.57 and a two-hundred day moving average price of $20.47. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.04. The firm had revenue of $4 billion for the quarter, compared to analysts' expectations of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. Kenvue's revenue was down .3% on a year-over-year basis. During the same quarter last year, the company posted $0.32 earnings per share. As a group, equities analysts anticipate that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Wednesday, November 13th. Kenvue's payout ratio is 141.38%.

Analyst Upgrades and Downgrades

KVUE has been the subject of several research reports. Jefferies Financial Group started coverage on Kenvue in a research note on Tuesday, September 24th. They set a "buy" rating and a $27.00 price target for the company. Piper Sandler upped their price target on Kenvue from $20.00 to $21.00 and gave the stock a "neutral" rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. lifted their price objective on Kenvue from $24.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. UBS Group upped their price target on shares of Kenvue from $20.00 to $22.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 7th. Finally, Citigroup reduced their target price on shares of Kenvue from $21.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Kenvue has an average rating of "Hold" and a consensus target price of $22.64.

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.