Plato Investment Management Ltd Sells 79,464 Shares of Kenvue Inc. (NYSE:KVUE)

Plato Investment Management Ltd reduced its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 57.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,469 shares of the company’s stock after selling 79,464 shares during the period. Plato Investment Management Ltd’s holdings in Kenvue were worth $1,063,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Manchester Capital Management LLC lifted its position in Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after purchasing an additional 530 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Kenvue during the 1st quarter valued at about $28,000. MV Capital Management Inc. increased its holdings in Kenvue by 71.2% in the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock worth $33,000 after acquiring an additional 642 shares in the last quarter. Salomon & Ludwin LLC purchased a new stake in Kenvue in the 1st quarter worth approximately $33,000. Finally, Riverview Trust Co bought a new stake in Kenvue during the 1st quarter worth approximately $33,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Price Performance

NYSE:KVUE opened at $23.39 on Monday. The business’s 50-day moving average is $20.41 and its 200 day moving average is $19.82. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $23.47. The company has a market capitalization of $44.80 billion, a P/E ratio of 29.99, a P/E/G ratio of 2.92 and a beta of 1.40. 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 (NYSE:KVUE) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The company’s revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. On average, equities research analysts forecast that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders 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 annualized dividend and a yield of 3.51%. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio (DPR) is 105.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. UBS Group increased their price target on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Citigroup dropped their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $24.00 target price on shares of Kenvue in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $21.44.

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.