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

Royal London Asset Management Ltd. cut its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 2.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,172,828 shares of the company’s stock after selling 53,788 shares during the period. Royal London Asset Management Ltd.’s holdings in Kenvue were worth $50,258,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Riverview Trust Co bought a new position in Kenvue in the third quarter worth about $30,000. Ashton Thomas Securities LLC bought a new position in shares of Kenvue during the 3rd quarter worth approximately $35,000. Studio Investment Management LLC raised its stake in shares of Kenvue by 52.1% during the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after acquiring an additional 845 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its position in Kenvue by 49.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after acquiring an additional 651 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Kenvue in the second quarter valued at approximately $61,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Price Performance

Shares of KVUE opened at $23.15 on Friday. The business’s 50-day moving average is $22.97 and its two-hundred day moving average is $21.07. The company has a market capitalization of $44.37 billion, a P/E ratio of 42.08, a P/E/G ratio of 2.13 and a beta of 1.36. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two 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.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the business earned $0.31 earnings per share. The company’s revenue was down .4% compared to the same quarter last year. Research analysts predict that Kenvue Inc. will post 1.07 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend was Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

Analyst Ratings Changes

Several analysts have recently commented on KVUE shares. Piper Sandler increased their price objective on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Jefferies Financial Group initiated coverage on Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target for the company. Royal Bank of Canada lowered Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target on the stock. in a research note on Tuesday, September 24th. Bank of America increased their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Kenvue has an average rating of “Hold” and an average target price of $22.64.

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.