Sachem Head Capital Management LP Decreases Stake in Kenvue Inc. $KVUE

Sachem Head Capital Management LP reduced its position in Kenvue Inc. (NYSE:KVUE) by 89.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,310,000 shares of the company’s stock after selling 27,220,000 shares during the period. Kenvue accounts for about 1.3% of Sachem Head Capital Management LP’s investment portfolio, making the stock its 17th biggest position. Sachem Head Capital Management LP’s holdings in Kenvue were worth $57,098,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Kenvue by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company’s stock worth $4,052,913,000 after buying an additional 1,604,040 shares in the last quarter. State Street Corp lifted its position in shares of Kenvue by 3.5% in the fourth quarter. State Street Corp now owns 118,865,134 shares of the company’s stock worth $2,050,424,000 after buying an additional 4,063,257 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Kenvue by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 49,862,574 shares of the company’s stock worth $856,778,000 after buying an additional 371,322 shares in the last quarter. Norges Bank purchased a new stake in shares of Kenvue in the fourth quarter worth about $756,862,000. Finally, American Century Companies Inc. lifted its position in shares of Kenvue by 22.4% in the third quarter. American Century Companies Inc. now owns 37,046,660 shares of the company’s stock worth $601,267,000 after buying an additional 6,781,640 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Kenvue

In related news, General Counsel Matthew Orlando sold 38,491 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $17.66, for a total value of $679,751.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.59% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on KVUE shares. Barclays decreased their target price on Kenvue from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 14th. Citigroup decreased their price objective on Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 15th. Zacks Research upgraded Kenvue from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 8th. Argus upgraded Kenvue to a “hold” rating in a research report on Friday, March 6th. Finally, Weiss Ratings downgraded Kenvue from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, Kenvue has a consensus rating of “Hold” and an average target price of $19.33.

Kenvue Stock Down 0.1%

Shares of NYSE:KVUE opened at $18.13 on Monday. Kenvue Inc. has a 52-week low of $14.02 and a 52-week high of $22.87. The stock has a market cap of $34.80 billion, a P/E ratio of 21.32, a price-to-earnings-growth ratio of 1.38 and a beta of 0.54. The business’s 50 day moving average is $17.43 and its 200 day moving average is $17.54. The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.05. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.The company had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Kenvue’s revenue was up 4.5% compared to the same quarter last year. Sell-side analysts predict that Kenvue Inc. will post 1.16 EPS for the current year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a $0.2075 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.83 annualized dividend and a yield of 4.6%. Kenvue’s dividend payout ratio is 97.65%.

Kenvue 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.