1832 Asset Management L.P. Sells 6,583,681 Shares of Kenvue Inc. (NYSE:KVUE)

1832 Asset Management L.P. lessened its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 69.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,895,082 shares of the company’s stock after selling 6,583,681 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.15% of Kenvue worth $62,128,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in Kenvue by 19.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 109,327,221 shares of the company’s stock valued at $2,353,816,000 after purchasing an additional 18,118,056 shares during the last quarter. Vanguard Group Inc. grew its holdings in Kenvue by 12.0% during the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after purchasing an additional 17,908,497 shares during the last quarter. Norges Bank acquired a new position in Kenvue during the fourth quarter valued at approximately $282,100,000. Clearbridge Investments LLC grew its holdings in Kenvue by 16,051.1% during the first quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock valued at $210,600,000 after purchasing an additional 9,752,836 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new position in Kenvue during the first quarter valued at approximately $208,745,000. Institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KVUE. HSBC raised their price objective on shares of Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. JPMorgan Chase & Co. lowered their price objective on shares of Kenvue from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. William Blair began coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They issued a “market perform” rating on the stock. Citigroup lowered their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Sanford C. Bernstein began coverage on shares of Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Kenvue currently has a consensus rating of “Hold” and an average price target of $22.45.

Kenvue Stock Performance

KVUE traded up $0.44 during trading on Friday, reaching $18.69. 11,484,659 shares of the company’s stock were exchanged, compared to its average volume of 16,902,116. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $25.00. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average price of $18.59 and a 200 day moving average price of $19.54. The company has a market capitalization of $35.79 billion, a P/E ratio of 23.96, a PEG ratio of 2.00 and a beta of 1.40.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. Kenvue’s revenue was down 24.9% on a year-over-year basis. As a group, analysts predict that Kenvue Inc. will post 1.13 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be issued a dividend of $0.205 per share. The ex-dividend date is Wednesday, August 14th. This is a boost from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.39%. Kenvue’s dividend payout ratio (DPR) is presently 105.13%.

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.