Hartford Investment Management Co. Has $2.79 Million Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Hartford Investment Management Co. reduced its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 1.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,507 shares of the company’s stock after selling 2,059 shares during the quarter. Hartford Investment Management Co.’s holdings in Kenvue were worth $2,787,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Manchester Capital Management LLC boosted its stake in Kenvue by 80.8% during the 1st 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 during the last quarter. Riverview Trust Co purchased a new position in shares of Kenvue during the third quarter valued at approximately $30,000. Mather Group LLC. purchased a new position in shares of Kenvue during the first quarter valued at approximately $28,000. MV Capital Management Inc. grew its holdings in Kenvue by 71.2% during the first quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock worth $33,000 after buying an additional 642 shares in the last quarter. Finally, Salomon & Ludwin LLC purchased a new stake in Kenvue in the 1st quarter valued at $33,000. 97.64% of the stock is owned by institutional investors.

Kenvue Trading Down 0.8 %

Shares of KVUE opened at $22.75 on Thursday. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $23.55. The business has a 50-day moving average of $22.36 and a 200 day moving average of $20.26. The firm has a market cap of $43.56 billion, a P/E ratio of 29.17, a price-to-earnings-growth ratio of 2.76 and a beta of 1.40. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99.

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

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Wednesday, November 13th. Kenvue’s payout ratio is currently 105.13%.

Analyst Ratings Changes

KVUE has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. UBS Group increased their price objective on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Bank of America boosted their target price on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup dropped their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Royal Bank of Canada downgraded Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.64.

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.