Yacktman Asset Management LP Reduces Stock Position in Kenvue Inc. $KVUE

Yacktman Asset Management LP cut its stake in Kenvue Inc. (NYSE:KVUE) by 3.0% in the third quarter, Holdings Channel reports. The institutional investor owned 7,939,962 shares of the company’s stock after selling 247,210 shares during the period. Kenvue makes up about 1.8% of Yacktman Asset Management LP’s investment portfolio, making the stock its 25th biggest holding. Yacktman Asset Management LP’s holdings in Kenvue were worth $128,866,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. NBT Bank N A NY increased its holdings in Kenvue by 180.3% during the 3rd quarter. NBT Bank N A NY now owns 1,564 shares of the company’s stock worth $25,000 after purchasing an additional 1,006 shares during the period. Salomon & Ludwin LLC purchased a new stake in shares of Kenvue during the third quarter valued at $25,000. Golden State Wealth Management LLC increased its holdings in Kenvue by 150.1% in the 3rd quarter. Golden State Wealth Management LLC now owns 1,983 shares of the company’s stock worth $32,000 after buying an additional 1,190 shares during the period. Trust Co. of Vermont boosted its holdings in Kenvue by 50.9% in the third quarter. Trust Co. of Vermont now owns 2,385 shares of the company’s stock valued at $39,000 after purchasing an additional 804 shares during the last quarter. Finally, New England Capital Financial Advisors LLC grew its stake in shares of Kenvue by 81.4% during the 3rd quarter. New England Capital Financial Advisors LLC now owns 2,563 shares of the company’s stock worth $42,000 after purchasing an additional 1,150 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Kenvue Price Performance

Kenvue stock opened at $17.41 on Monday. The business has a fifty day moving average of $17.16 and a two-hundred day moving average of $17.99. Kenvue Inc. has a one year low of $14.02 and a one year high of $25.17. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 0.98. The company has a market cap of $33.36 billion, a P/E ratio of 23.21 and a beta of 0.60.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.83 billion. Kenvue had a return on equity of 20.02% and a net margin of 9.55%.Kenvue’s quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the business posted $0.28 EPS. As a group, analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be paid a dividend of $0.2075 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $0.83 annualized dividend and a dividend yield of 4.8%. Kenvue’s dividend payout ratio is presently 110.67%.

Insider Buying and Selling

In other Kenvue news, Director Jeffrey C. Smith bought 3,200,000 shares of Kenvue stock in a transaction that occurred on Friday, December 12th. The shares were purchased at an average cost of $17.37 per share, for a total transaction of $55,584,000.00. Following the completion of the transaction, the director owned 27,307,632 shares of the company’s stock, valued at $474,333,567.84. This represents a 13.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Johnson Rice reissued a “neutral” rating on shares of Kenvue in a research note on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Kenvue in a research report on Friday, January 9th. Barclays increased their price target on shares of Kenvue from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Citigroup reduced their target price on shares of Kenvue from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Finally, Canaccord Genuity Group reissued a “hold” rating and set a $15.00 price objective (down previously from $26.00) on shares of Kenvue in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Kenvue presently has an average rating of “Hold” and an average target price of $19.90.

Kenvue Company Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over?the?counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.