Kenvue Inc. (NYSE:KVUE) Shares Sold by Caprock Group LLC

Caprock Group LLC lowered its position in Kenvue Inc. (NYSE:KVUE) by 21.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,191 shares of the company’s stock after selling 9,607 shares during the period. Caprock Group LLC’s holdings in Kenvue were worth $814,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Huntington National Bank raised its holdings in Kenvue by 26.5% in the 3rd quarter. Huntington National Bank now owns 4,161 shares of the company’s stock worth $96,000 after purchasing an additional 871 shares during the period. ING Groep NV increased its position in shares of Kenvue by 23.6% in the third quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock valued at $82,727,000 after buying an additional 681,954 shares in the last quarter. Lorne Steinberg Wealth Management Inc. raised its stake in shares of Kenvue by 59.0% during the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company’s stock worth $2,812,000 after buying an additional 57,375 shares during the period. Kennon Green & Company LLC grew its stake in Kenvue by 140.7% in the 2nd quarter. Kennon Green & Company LLC now owns 159,106 shares of the company’s stock valued at $2,893,000 after acquiring an additional 93,008 shares during the period. Finally, Czech National Bank increased its holdings in Kenvue by 20.3% in the 2nd quarter. Czech National Bank now owns 364,886 shares of the company’s stock worth $6,634,000 after acquiring an additional 61,635 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Trading Up 1.3 %

Shares of KVUE opened at $24.10 on Friday. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.24. The firm has a market capitalization of $46.21 billion, a P/E ratio of 43.82, a P/E/G ratio of 2.15 and a beta of 1.36. The firm has a 50-day moving average price of $22.81 and a 200 day moving average price of $20.80. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.31 EPS. Sell-side analysts forecast that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $0.205 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.40%. Kenvue’s dividend payout ratio is currently 149.09%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KVUE. Bank of America lifted their target price 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. Jefferies Financial Group assumed coverage on Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their target price on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. 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. Finally, UBS Group increased their price objective on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and a consensus target price of $22.64.

About Kenvue

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.