Royal London Asset Management Ltd. Sells 53,788 Shares of Kenvue Inc. (NYSE:KVUE)

Royal London Asset Management Ltd. reduced its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,172,828 shares of the company's stock after selling 53,788 shares during the quarter. Royal London Asset Management Ltd. owned 0.11% of Kenvue worth $50,258,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Riverview Trust Co bought a new position in Kenvue in the third quarter valued at about $30,000. Ashton Thomas Securities LLC bought a new position in Kenvue in the third quarter valued at about $35,000. Deseret Mutual Benefit Administrators raised its position in Kenvue by 49.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company's stock valued at $45,000 after purchasing an additional 651 shares during the last quarter. Studio Investment Management LLC raised its position in Kenvue by 52.1% in the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company's stock valued at $45,000 after purchasing an additional 845 shares during the last quarter. Finally, Brooklyn Investment Group bought a new position in Kenvue in the third quarter valued at about $71,000. 97.64% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on KVUE shares. Royal Bank of Canada downgraded Kenvue from an "outperform" rating to a "sector perform" rating and set a $24.00 target price for the company. in a research report on Tuesday, September 24th. JPMorgan Chase & Co. increased their target price on Kenvue from $24.00 to $25.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Bank of America increased their target price on Kenvue from $24.00 to $27.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Jefferies Financial Group initiated coverage on Kenvue in a research report on Tuesday, September 24th. They set a "buy" rating and a $27.00 price objective for the company. Finally, Piper Sandler upped their target price on Kenvue from $20.00 to $21.00 and gave the company a "neutral" rating in a report on Monday, September 23rd. One research 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.com, Kenvue presently has an average rating of "Hold" and a consensus price target of $22.64.

Kenvue Trading Down 1.3 %

Shares of Kenvue stock traded down $0.29 on Friday, reaching $22.84. 9,708,660 shares of the company's stock were exchanged, compared to its average volume of 17,762,063. The company has a market capitalization of $43.79 billion, a P/E ratio of 41.53, a price-to-earnings-growth ratio of 2.13 and a beta of 1.36. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. 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 firm's 50-day moving average is $22.97 and its two-hundred day moving average is $21.09.

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. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. Kenvue's quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 EPS. Sell-side analysts predict that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.205 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 annualized dividend and a dividend yield of 3.59%. Kenvue's dividend payout ratio is presently 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.