228,064 Kenvue Inc. $KVUE Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 4.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,831,309 shares of the company’s stock after selling 228,064 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Kenvue were worth $85,321,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Johnson Financial Group Inc. bought a new position in Kenvue in the second quarter worth approximately $26,000. CoreCap Advisors LLC boosted its stake in shares of Kenvue by 64.9% during the 2nd quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock worth $29,000 after acquiring an additional 591 shares during the last quarter. GK Wealth Management LLC bought a new stake in shares of Kenvue during the 3rd quarter valued at $27,000. Bell Investment Advisors Inc bought a new stake in shares of Kenvue during the 2nd quarter valued at $35,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of Kenvue in the 2nd quarter worth $38,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $19.41 on Wednesday. The company has a market capitalization of $37.28 billion, a P/E ratio of 22.06, a P/E/G ratio of 1.77 and a beta of 0.48. Kenvue Inc. has a 1-year low of $14.06 and a 1-year high of $20.13. The firm’s 50 day simple moving average is $18.41 and its two-hundred day simple moving average is $18.21. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.01 and a quick ratio of 0.71.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Friday, October 30th. The company reported $0.29 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.29. The firm had revenue of $3.89 billion during the quarter, compared to analysts’ expectations of $3.86 billion. Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 earnings per share. Research analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Monday, September 21st were issued a $0.21 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $0.84 annualized dividend and a yield of 4.3%. Kenvue’s dividend payout ratio is currently 95.45%.

Analyst Upgrades and Downgrades

KVUE has been the topic of a number of recent research reports. HSBC decreased their target price on Kenvue from $20.00 to $19.00 and set a “hold” rating on the stock in a report on Monday, August 10th. Zacks Research lowered Kenvue from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Weiss Ratings restated a “hold (c)” rating on shares of Kenvue in a research report on Friday, September 11th. UBS Group upped their price target on Kenvue from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Wall Street Zen downgraded Kenvue from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Ten investment analysts have rated the stock with a Hold rating. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $19.29.

Trending Headlines about Kenvue

Here are the key news stories impacting Kenvue this week:

• Positive Sentiment: Kimberly-Clark is targeting $2.1 billion in annual synergies from the acquisition, creating potential for meaningful cost savings over time. Those savings are a possible long-term positive for the combined business, though delivery and timing remain to be seen. Kimberly-Clark completes Kenvue acquisition and targets $2.1 billion in annual synergies
• Neutral Sentiment: The deal is complete, and trading in KVUE was halted when the merger became effective. The closing removes uncertainty about the transaction, but Kenvue’s future as part of Kimberly-Clark may change how investors assess its standalone results. Kimberly-Clark completes acquisition of Kenvue
• Neutral Sentiment: UBS raised its price target to $20 from $19 but kept a neutral rating, suggesting limited near-term upside in its view. UBS Group stock recommendations
• Negative Sentiment: Kenvue’s departure from the S&P 500 may prompt index-tracking funds to sell shares, potentially adding technical selling pressure around the transition. Kenvue is leaving the S&P 500
• Negative Sentiment: ETFs were net sellers of KVUE on Oct. 30, a potential source of near-term selling pressure, although the data predates the merger’s completion. ETFs are net sellers of Kenvue on Oct. 30

Kenvue Company Profile

Kenvue Inc is a consumer health company that develops, markets and sells products designed to support everyday health and personal care. Its portfolio spans over-the-counter medicines, skin health and beauty, and essential health products, serving consumers through retail, e-commerce and other distribution channels.

The company’s brands include Tylenol, Motrin, Zyrtec and Benadryl in self-care; Neutrogena, Aveeno and Clean & Clear in skin health and beauty; and Listerine, Johnson’s and OGX in oral care, baby care and hair care.