Douglas Lane & Associates LLC Sells 137,882 Shares of Kenvue Inc. (NYSE:KVUE)

Douglas Lane & Associates LLC cut its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 59.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,720 shares of the company's stock after selling 137,882 shares during the quarter. Douglas Lane & Associates LLC's holdings in Kenvue were worth $1,980,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its stake in Kenvue by 54.9% during the second quarter. Victory Capital Management Inc. now owns 799,225 shares of the company's stock worth $14,530,000 after purchasing an additional 283,383 shares during the last quarter. Candriam S.C.A. lifted its position in shares of Kenvue by 20.8% during the 2nd quarter. Candriam S.C.A. now owns 85,878 shares of the company's stock worth $1,561,000 after buying an additional 14,784 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Kenvue in the second quarter valued at about $412,000. Caprock Group LLC grew its position in Kenvue by 3.2% in the second quarter. Caprock Group LLC now owns 44,798 shares of the company's stock valued at $814,000 after acquiring an additional 1,409 shares during the last quarter. Finally, PFG Investments LLC grew its position in Kenvue by 53.4% in the second quarter. PFG Investments LLC now owns 18,537 shares of the company's stock valued at $337,000 after acquiring an additional 6,451 shares during the last quarter. Institutional investors own 97.64% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Kenvue from $24.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Barclays raised Kenvue to a "hold" rating in a research note on Thursday, December 12th. Jefferies Financial Group began coverage on Kenvue in a research note on Tuesday, September 24th. They issued a "buy" rating and a $27.00 price objective for the company. Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a "buy" rating to a "hold" rating and cut their target price for the stock from $25.00 to $24.00 in a research report on Thursday, December 12th. Finally, Bank of America upped their price target on shares of Kenvue from $24.00 to $27.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $23.09.

Kenvue Trading Up 0.1 %

Shares of NYSE:KVUE traded up $0.02 during midday trading on Thursday, reaching $21.07. The company's stock had a trading volume of 7,579,309 shares, compared to its average volume of 8,296,282. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $24.46. 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 firm has a 50 day moving average price of $22.66 and a two-hundred day moving average price of $21.56. The firm has a market capitalization of $40.40 billion, a price-to-earnings ratio of 38.31, a PEG ratio of 2.02 and a beta of 1.46.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to analysts' expectations of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The company's revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.31 EPS. As a group, analysts forecast that Kenvue Inc. will post 1.07 earnings per share for the current year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date of this dividend was Wednesday, November 13th. Kenvue's payout ratio is 149.09%.

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.