Manning & Napier Advisors LLC Sells 126,714 Shares of Kenvue Inc. (NYSE:KVUE)

Manning & Napier Advisors LLC lowered its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 24.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 389,426 shares of the company's stock after selling 126,714 shares during the quarter. Manning & Napier Advisors LLC's holdings in Kenvue were worth $8,314,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of KVUE. State Street Corp grew its stake in Kenvue by 16.8% during the 3rd quarter. State Street Corp now owns 127,213,940 shares of the company's stock worth $2,942,458,000 after buying an additional 18,283,473 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position 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 purchasing an additional 7,115,374 shares during the period. Holocene Advisors LP boosted its position in shares of Kenvue by 75.5% in the third quarter. Holocene Advisors LP now owns 13,886,454 shares of the company's stock worth $321,194,000 after buying an additional 5,975,392 shares during the period. M&G PLC grew its holdings in shares of Kenvue by 538.0% during the 3rd quarter. M&G PLC now owns 4,341,172 shares of the company's stock valued at $99,847,000 after acquiring an additional 3,660,730 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Kenvue by 2.3% in the third quarter. FMR LLC now owns 137,915,493 shares of the company's stock worth $3,189,985,000 after buying an additional 3,075,019 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Kenvue Stock Performance

KVUE traded up $0.33 during trading hours on Thursday, reaching $21.64. The company's stock had a trading volume of 3,282,854 shares, compared to its average volume of 11,047,068. 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 company's 50-day moving average is $22.00 and its 200-day moving average is $21.85. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The firm has a market cap of $41.48 billion, a PE ratio of 39.34, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The firm had revenue of $3.90 billion for the quarter, compared to analysts' expectations of $3.92 billion. During the same period in the prior year, the firm earned $0.31 EPS. The business's revenue was down .4% on a year-over-year basis. On average, equities analysts forecast that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date is Wednesday, February 12th. Kenvue's dividend payout ratio is currently 149.09%.

Analyst Upgrades and Downgrades

KVUE has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lowered Kenvue from a "buy" rating to a "hold" rating and cut their price target for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. JPMorgan Chase & Co. lifted 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. Bank of America upped their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Barclays decreased their price target on Kenvue from $23.00 to $21.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Finally, Royal Bank of Canada upgraded shares of Kenvue from a "hold" rating to a "moderate buy" rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Kenvue currently has an average rating of "Hold" and an average price target of $23.08.

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.