Ghisallo Capital Management LLC Trims Stock Position in Kenvue Inc. (NYSE:KVUE)

Ghisallo Capital Management LLC lowered its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 500,000 shares of the company's stock after selling 500,000 shares during the period. Ghisallo Capital Management LLC's holdings in Kenvue were worth $10,675,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new position in shares of Kenvue during the 4th quarter valued at $521,348,000. Franklin Resources Inc. grew its holdings in Kenvue by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company's stock valued at $912,059,000 after buying an additional 16,269,721 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Kenvue by 12.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company's stock valued at $2,085,070,000 after buying an additional 10,682,003 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Kenvue by 3.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company's stock worth $5,249,665,000 after buying an additional 8,211,748 shares in the last quarter. Finally, Boston Partners boosted its position in shares of Kenvue by 36.9% in the fourth quarter. Boston Partners now owns 23,595,963 shares of the company's stock valued at $503,145,000 after acquiring an additional 6,366,097 shares during the period. Hedge funds and other institutional investors own 97.64% of the company's stock.

Kenvue Price Performance

Shares of KVUE stock traded up $0.29 during trading hours on Tuesday, hitting $23.40. 13,526,275 shares of the company's stock were exchanged, compared to its average volume of 17,100,423. The company has a market capitalization of $44.90 billion, a PE ratio of 44.15, a PEG 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's 50 day simple moving average is $23.04 and its 200-day simple moving average is $22.46. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

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

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be paid 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 payout ratio is 154.72%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Royal Bank of Canada restated a "sector perform" rating and issued a $24.00 price objective on shares of Kenvue in a research report on Monday, February 3rd. 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 report on Monday, April 14th. Evercore ISI assumed coverage on shares of Kenvue in a research report on Monday, March 24th. They issued an "in-line" rating and a $25.00 price objective for the company. Piper Sandler raised their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Finally, Redburn Atlantic began coverage on shares of Kenvue in a research report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price objective for the company. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, Kenvue presently has a consensus rating of "Hold" and an average price target of $24.42.

Kenvue Company 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.