AQR Capital Management LLC Cuts Holdings in Kenvue Inc. (NYSE:KVUE)

AQR Capital Management LLC reduced its holdings in Kenvue Inc. (NYSE:KVUE) by 39.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,280 shares of the company’s stock after selling 131,494 shares during the quarter. AQR Capital Management LLC’s holdings in Kenvue were worth $4,338,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Principal Financial Group Inc. boosted its position in shares of Kenvue by 3.2% during the 3rd quarter. Principal Financial Group Inc. now owns 2,364,451 shares of the company’s stock worth $54,690,000 after purchasing an additional 73,542 shares in the last quarter. First Hawaiian Bank boosted its holdings in Kenvue by 36.6% during the fourth quarter. First Hawaiian Bank now owns 26,095 shares of the company’s stock worth $557,000 after buying an additional 6,997 shares in the last quarter. Fortitude Family Office LLC grew its position in Kenvue by 106.6% during the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock worth $32,000 after buying an additional 777 shares during the period. Jacobs & Co. CA increased its holdings in Kenvue by 2.1% in the fourth quarter. Jacobs & Co. CA now owns 191,500 shares of the company’s stock valued at $4,088,000 after buying an additional 4,029 shares in the last quarter. Finally, Czech National Bank lifted its position in shares of Kenvue by 6.6% during the 4th quarter. Czech National Bank now owns 415,700 shares of the company’s stock valued at $8,875,000 after acquiring an additional 25,561 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KVUE shares. Redburn Atlantic initiated coverage on Kenvue in a report on Thursday, April 10th. They set a “neutral” rating and a $23.50 price objective for the company. UBS Group lifted their price target on Kenvue from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday. Citigroup raised their target price on shares of Kenvue from $22.00 to $24.50 and gave the company a “neutral” rating in a report on Friday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price target on shares of Kenvue in a report on Monday, February 3rd. Finally, Canaccord Genuity Group raised their price objective on shares of Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $25.25.

Kenvue Stock Up 1.7 %

Shares of NYSE:KVUE opened at $24.47 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The firm has a market cap of $46.95 billion, a price-to-earnings ratio of 46.17, a PEG ratio of 2.62 and a beta of 1.02. The stock’s 50-day moving average price is $23.13 and its two-hundred day moving average price is $22.56. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $25.17.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Kenvue’s revenue was down 3.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 earnings per share. On average, research analysts forecast that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.35%. The ex-dividend date of this dividend is Wednesday, May 14th. Kenvue’s dividend payout ratio (DPR) is presently 154.72%.

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.