Healthcare of Ontario Pension Plan Trust Fund Decreases Stock Position in Kenvue Inc. (NYSE:KVUE)

Healthcare of Ontario Pension Plan Trust Fund lowered its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 87.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 600,010 shares of the company's stock after selling 4,257,900 shares during the period. Healthcare of Ontario Pension Plan Trust Fund's holdings in Kenvue were worth $13,878,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Advisors Asset Management Inc. purchased a new stake in Kenvue during the first quarter valued at about $206,000. Janus Henderson Group PLC boosted its holdings in Kenvue by 53.7% in the 1st quarter. Janus Henderson Group PLC now owns 165,162 shares of the company's stock worth $3,541,000 after buying an additional 57,679 shares during the period. Tidal Investments LLC grew its stake in Kenvue by 47.5% in the 1st quarter. Tidal Investments LLC now owns 131,764 shares of the company's stock valued at $2,828,000 after buying an additional 42,418 shares in the last quarter. LRI Investments LLC purchased a new position in Kenvue in the 1st quarter valued at approximately $106,000. Finally, Swedbank AB bought a new stake in Kenvue during the 1st quarter valued at $27,856,000. Institutional investors own 97.64% of the company's stock.

Kenvue Price Performance

KVUE traded down $0.04 during trading on Friday, reaching $24.10. The stock had a trading volume of 7,516,534 shares, compared to its average volume of 17,823,225. 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 business has a 50-day moving average of $22.92 and a 200-day moving average of $20.96. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.46. The stock has a market cap of $46.20 billion, a PE ratio of 43.87, a PEG ratio of 2.19 and a beta of 1.36.

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

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.40%. Kenvue's payout ratio is 149.09%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KVUE. Piper Sandler lifted their price target on Kenvue from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Monday, September 23rd. UBS Group increased their price target on shares of Kenvue from $20.00 to $22.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective 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. Deutsche Bank Aktiengesellschaft upped their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, August 7th. Finally, Jefferies Financial Group started coverage on shares of Kenvue in a report on Tuesday, September 24th. They issued a "buy" rating and a $27.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average 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.