Franklin Resources Inc. Sells 1,714,826 Shares of Kenvue Inc. (NYSE:KVUE)

Franklin Resources Inc. cut its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 6.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,449,656 shares of the company's stock after selling 1,714,826 shares during the quarter. Franklin Resources Inc. owned approximately 1.38% of Kenvue worth $571,313,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KVUE. Riverview Trust Co bought a new stake in Kenvue during the third quarter valued at about $30,000. Ashton Thomas Securities LLC bought a new stake in Kenvue during the 3rd quarter valued at approximately $35,000. Deseret Mutual Benefit Administrators lifted its holdings in Kenvue by 49.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company's stock worth $45,000 after purchasing an additional 651 shares in the last quarter. Studio Investment Management LLC boosted its stake in Kenvue by 52.1% in the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company's stock worth $45,000 after purchasing an additional 845 shares during the period. Finally, Brooklyn Investment Group purchased a new stake in Kenvue during the 3rd quarter valued at approximately $71,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Trading Down 0.5 %

Shares of NYSE KVUE traded down $0.11 during midday trading on Friday, hitting $22.21. The company's stock had a trading volume of 9,184,286 shares, compared to its average volume of 17,639,725. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The firm has a market cap of $42.58 billion, a P/E ratio of 40.38, a price-to-earnings-growth ratio of 2.02 and a beta of 1.36. The business's 50 day moving average is $22.95 and its two-hundred day moving average is $21.20.

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

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.205 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.69%. Kenvue's dividend payout ratio (DPR) is currently 149.09%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on KVUE. Deutsche Bank Aktiengesellschaft lowered shares of 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 research report on Thursday. JPMorgan Chase & Co. raised their price objective on Kenvue from $24.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Piper Sandler boosted their target price on Kenvue from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. Bank of America increased their price target on Kenvue from $24.00 to $27.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Finally, Barclays raised Kenvue to a "hold" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $22.64.

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.