Brown Brothers Harriman & Co. Cuts Holdings in Kenvue Inc. (NYSE:KVUE)

Brown Brothers Harriman & Co. reduced its position in Kenvue Inc. (NYSE:KVUE) by 8.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 487,881 shares of the company’s stock after selling 43,447 shares during the period. Brown Brothers Harriman & Co.’s holdings in Kenvue were worth $8,870,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stephens Inc. AR raised its holdings in shares of Kenvue by 86.1% during the 4th quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock worth $1,242,000 after acquiring an additional 26,700 shares in the last quarter. Stifel Financial Corp raised its stake in Kenvue by 60.4% during the fourth quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock valued at $16,041,000 after purchasing an additional 280,591 shares in the last quarter. Raleigh Capital Management Inc. raised its stake in Kenvue by 93,834.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 43,210 shares of the company’s stock valued at $930,000 after purchasing an additional 43,164 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Kenvue by 2.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock valued at $34,417,000 after purchasing an additional 40,995 shares during the last quarter. Finally, Cornerstone Wealth Group LLC grew its stake in shares of Kenvue by 176.2% in the 1st quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock worth $7,519,000 after buying an additional 223,537 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KVUE. Citigroup decreased their target price on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. upped their price objective on Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 target price on shares of Kenvue in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their target price on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, UBS Group raised their price target on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $21.44.

Kenvue Price Performance

KVUE opened at $23.39 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $23.47. The business’s fifty day simple moving average is $20.41 and its 200-day simple moving average is $19.82. The company has a market capitalization of $44.80 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 2.92 and a beta of 1.40.

Kenvue (NYSE:KVUE) last posted its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. Kenvue’s revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. On average, equities research analysts anticipate that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.51%. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio (DPR) is presently 105.13%.

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.