LMR Partners LLP Sells 4,026,266 Shares of Kenvue Inc. (NYSE:KVUE)

LMR Partners LLP trimmed its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 88.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 523,389 shares of the company's stock after selling 4,026,266 shares during the quarter. LMR Partners LLP's holdings in Kenvue were worth $12,106,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its holdings in shares of Kenvue by 23.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company's stock worth $2,887,773,000 after buying an additional 25,238,112 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Kenvue by 9.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 79,863,967 shares of the company's stock worth $1,451,927,000 after buying an additional 7,023,047 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Kenvue by 21.0% during the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company's stock worth $789,813,000 after buying an additional 7,546,362 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Kenvue by 20.7% during the second quarter. American Century Companies Inc. now owns 27,382,644 shares of the company's stock worth $497,816,000 after buying an additional 4,700,697 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of 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 in the last quarter. 97.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

KVUE has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on Kenvue in a report on Tuesday, September 24th. They set a "buy" rating and a $27.00 target price for the company. UBS Group lifted their target price on Kenvue from $20.00 to $22.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their price target on Kenvue from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, August 7th. Bank of America boosted 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, Royal Bank of Canada downgraded Kenvue from an "outperform" rating to a "sector perform" rating and set a $24.00 price target for the company. in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $22.64.

Kenvue Price Performance

Kenvue stock traded up $0.07 during midday trading on Monday, reaching $23.89. The company's stock had a trading volume of 6,849,975 shares, compared to its average volume of 18,003,844. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.13. 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 business has a 50-day moving average price of $22.77 and a 200-day moving average price of $20.71. The stock has a market cap of $45.80 billion, a PE ratio of 43.24, a price-to-earnings-growth ratio of 2.16 and a beta of 1.36.

Kenvue (NYSE:KVUE - Get Free Report) last released 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 return on equity of 21.43% and a net margin of 6.88%. The firm had revenue of $3.90 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same quarter in the previous year, the business posted $0.31 earnings per share. The business's revenue for the quarter was down .4% on a year-over-year basis. On average, sell-side analysts predict that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Wednesday, November 13th. Kenvue's dividend payout ratio (DPR) is currently 149.09%.

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.