Verition Fund Management LLC Sells 740,993 Shares of Kenvue Inc. (NYSE:KVUE)

Verition Fund Management LLC trimmed its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 96.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 29,374 shares of the company's stock after selling 740,993 shares during the period. Verition Fund Management LLC's holdings in Kenvue were worth $679,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in Kenvue by 110.9% during the second quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company's stock worth $372,880,000 after buying 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 2nd quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company's stock worth $789,813,000 after purchasing an additional 7,546,362 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Kenvue by 8.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company's stock valued at $2,011,832,000 after purchasing an additional 7,115,374 shares during the last quarter. American Century Companies Inc. grew its holdings in Kenvue by 20.7% during the second quarter. American Century Companies Inc. now owns 27,382,644 shares of the company's stock valued at $497,816,000 after purchasing an additional 4,700,697 shares during the period. Finally, M&G PLC increased its position in Kenvue by 538.0% in the third quarter. M&G PLC now owns 4,341,172 shares of the company's stock worth $99,847,000 after buying an additional 3,660,730 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on KVUE shares. Bank of America boosted their target price on shares of Kenvue from $24.00 to $27.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. Royal Bank of Canada raised Kenvue from a "hold" rating to a "moderate buy" rating in a report on Monday. Jefferies Financial Group began coverage on Kenvue in a report on Tuesday, September 24th. They set a "buy" rating and a $27.00 target price for the company. JPMorgan Chase & Co. upped their price target on Kenvue from $24.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Finally, Piper Sandler boosted their price objective on shares of Kenvue from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Kenvue presently has an average rating of "Hold" and an average target price of $22.64.

Kenvue Stock Down 2.2 %

KVUE traded down $0.51 on Wednesday, hitting $22.23. The company had a trading volume of 9,433,236 shares, compared to its average volume of 17,686,359. The stock has a fifty day simple moving average of $22.95 and a 200-day simple moving average of $21.16. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The firm has a market capitalization of $42.62 billion, a P/E ratio of 40.42, a P/E/G ratio of 2.07 and a beta of 1.37. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46.

Kenvue (NYSE:KVUE - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, beating 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 net margin of 6.88% and a return on equity of 21.43%. The company's quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 EPS. As a group, equities analysts expect that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend was Wednesday, November 13th. Kenvue's payout ratio is 149.09%.

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.