Arete Wealth Advisors LLC cut its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 50.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,492 shares of the company's stock after selling 30,135 shares during the period. Arete Wealth Advisors LLC's holdings in Kenvue were worth $682,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its holdings in shares of Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company's stock valued at $2,942,458,000 after acquiring an additional 18,283,473 shares during the period. Van ECK Associates Corp grew its position in Kenvue by 110.9% during the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company's stock worth $372,880,000 after purchasing an additional 10,783,258 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Kenvue by 21.0% in the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company's stock valued at $789,813,000 after buying an additional 7,546,362 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Kenvue by 8.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company's stock worth $2,011,832,000 after buying an additional 7,115,374 shares during the period. Finally, Holocene Advisors LP grew its stake in shares of Kenvue by 75.5% in the 3rd quarter. Holocene Advisors LP now owns 13,886,454 shares of the company's stock valued at $321,194,000 after purchasing an additional 5,975,392 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on KVUE shares. Piper Sandler increased 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. Deutsche Bank Aktiengesellschaft cut Kenvue from a "buy" rating to a "hold" rating and decreased their target price for the stock from $25.00 to $24.00 in a report on Thursday. Royal Bank of Canada raised Kenvue from a "hold" rating to a "moderate buy" rating in a research report on Monday. JPMorgan Chase & Co. upped their target price on shares of Kenvue from $24.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Finally, Jefferies Financial Group initiated coverage on Kenvue in a research note on Tuesday, September 24th. They set a "buy" rating and a $27.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $22.64.
Read Our Latest Analysis on KVUE
Kenvue Price Performance
Shares of KVUE stock traded down $0.11 during trading hours on Friday, hitting $22.21. 9,184,040 shares of the company's stock were exchanged, compared to its average volume of 17,639,725. The stock's 50-day moving average is $22.95 and its 200-day moving average is $21.17. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The stock has a market cap of $42.58 billion, a price-to-earnings ratio of 40.38, a price-to-earnings-growth ratio of 2.02 and a beta of 1.36.
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, beating the consensus estimate of $0.27 by $0.01. The business 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 firm's quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business earned $0.31 earnings per share. As a group, research analysts forecast that Kenvue Inc. will post 1.07 EPS for the current year.
Kenvue Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.69%. The ex-dividend date was Wednesday, November 13th. Kenvue's payout ratio is presently 149.09%.
About Kenvue
(
Free Report)
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.
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