Kenvue Inc. $KVUE Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 3.0% during the first quarter, HoldingsChannel reports. The firm owned 1,606,796 shares of the company’s stock after selling 49,667 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Kenvue were worth $27,701,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Physician Wealth Advisors Inc. grew its position in shares of Kenvue by 67.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock valued at $26,000 after purchasing an additional 618 shares during the period. Elyxium Wealth LLC purchased a new position in Kenvue during the fourth quarter worth about $26,000. MV Capital Management Inc. purchased a new position in Kenvue during the fourth quarter worth about $28,000. Reflection Asset Management acquired a new stake in Kenvue in the 4th quarter worth about $32,000. Finally, SBI Securities Co. Ltd. boosted its stake in Kenvue by 82.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company’s stock worth $39,000 after buying an additional 1,027 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on KVUE. Weiss Ratings upgraded Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 15th. Wall Street Zen raised shares of Kenvue to a “buy” rating in a research report on Sunday, July 12th. Citigroup lowered their target price on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, April 15th. Barclays boosted their target price on shares of Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Finally, Zacks Research downgraded shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat, Kenvue currently has a consensus rating of “Hold” and a consensus target price of $19.58.

Kenvue Price Performance

Shares of Kenvue stock opened at $19.25 on Friday. The business’s fifty day moving average price is $18.59 and its 200 day moving average price is $18.01. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $22.28. The company has a current ratio of 0.98, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $36.95 billion, a P/E ratio of 22.64, a PEG ratio of 1.47 and a beta of 0.47.

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

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Wednesday, August 12th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Wednesday, August 12th. This is an increase from Kenvue’s previous quarterly dividend of $0.21. Kenvue’s dividend payout ratio (DPR) is presently 97.65%.

Insider Activity

In related news, General Counsel Matthew Orlando sold 38,491 shares of the stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $17.66, for a total transaction of $679,751.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.59% of the company’s stock.

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.