Troy Asset Management Ltd Sells 368,458 Shares of Kenvue Inc. (NYSE:KVUE)

Troy Asset Management Ltd decreased its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 26.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,045,436 shares of the company's stock after selling 368,458 shares during the quarter. Kenvue comprises approximately 0.7% of Troy Asset Management Ltd's portfolio, making the stock its 27th biggest position. Troy Asset Management Ltd owned 0.05% of Kenvue worth $22,320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Grove Bank & Trust raised its position in shares of Kenvue by 438.4% in the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company's stock worth $25,000 after acquiring an additional 947 shares in the last quarter. Geneos Wealth Management Inc. bought a new position in Kenvue in the fourth quarter worth $29,000. SRS Capital Advisors Inc. raised its holdings in Kenvue by 67.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock worth $30,000 after purchasing an additional 571 shares in the last quarter. Fortitude Family Office LLC lifted its position in Kenvue by 106.6% during the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company's stock valued at $32,000 after buying an additional 777 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of Kenvue by 300.8% during the 4th quarter. Versant Capital Management Inc now owns 1,920 shares of the company's stock valued at $41,000 after buying an additional 1,441 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

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Wall Street Analyst Weigh In

KVUE has been the subject of a number of recent research reports. Canaccord Genuity Group lifted their price target on shares of Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Evercore ISI assumed coverage on shares of Kenvue in a report on Monday, March 24th. They set an "in-line" rating and a $25.00 target price for the company. UBS Group dropped their price target on Kenvue from $23.00 to $21.00 and set a "neutral" rating on the stock in a research report on Friday, February 7th. Piper Sandler raised their price objective on Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Finally, Barclays boosted their target price on Kenvue from $21.00 to $23.00 and gave the stock an "equal weight" rating in a report on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $24.00.

Kenvue Stock Performance

NYSE:KVUE traded up $0.09 during mid-day trading on Wednesday, reaching $23.97. The company's stock had a trading volume of 6,913,570 shares, compared to its average volume of 16,710,192. 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 stock has a market cap of $45.81 billion, a P/E ratio of 45.23, a PEG ratio of 2.62 and a beta of 1.25. The firm's fifty day moving average price is $22.44 and its two-hundred day moving average price is $22.46. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. On average, equities analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Wednesday, February 12th. Kenvue's payout ratio is currently 154.72%.

About Kenvue

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.