BTG Pactual Asset Management US LLC Cuts Stock Holdings in Kenvue Inc. $KVUE

BTG Pactual Asset Management US LLC lowered its stake in shares of Kenvue Inc. (NYSE:KVUE) by 26.3% during the second quarter, HoldingsChannel.com reports. The firm owned 165,088 shares of the company’s stock after selling 58,833 shares during the period. BTG Pactual Asset Management US LLC’s holdings in Kenvue were worth $3,155,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in KVUE. Elyxium Wealth LLC acquired a new stake in shares of Kenvue during the 4th quarter worth $26,000. Johnson Financial Group Inc. acquired a new position in Kenvue in the second quarter valued at $26,000. MV Capital Management Inc. acquired a new position in Kenvue in the fourth quarter valued at $28,000. CoreCap Advisors LLC grew its position in Kenvue by 64.9% during the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock valued at $29,000 after acquiring an additional 591 shares during the period. Finally, Reflection Asset Management purchased a new stake in Kenvue during the fourth quarter valued at about $32,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on KVUE shares. UBS Group cut their price objective on Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Tuesday, August 11th. Weiss Ratings upgraded Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 15th. Barclays increased their target price on shares of Kenvue from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 21st. Zacks Research lowered shares of Kenvue from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 7th. Finally, Wall Street Zen cut shares of Kenvue from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Three analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.27.

Kenvue Stock Down 0.1%

Shares of NYSE:KVUE opened at $19.15 on Monday. The company has a market capitalization of $36.78 billion, a price-to-earnings ratio of 22.01, a price-to-earnings-growth ratio of 1.37 and a beta of 0.47. The company has a 50 day moving average of $19.16 and a two-hundred day moving average of $18.25. Kenvue Inc. has a 52-week low of $14.02 and a 52-week high of $20.82. The company has a quick ratio of 0.71, a current ratio of 1.01 and a debt-to-equity ratio of 0.67.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, August 6th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.97 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%.The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.29 earnings per share. As a group, analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Shareholders of record on Wednesday, August 12th were issued a $0.21 dividend. The ex-dividend date was Wednesday, August 12th. This represents a $0.84 dividend on an annualized basis and a yield of 4.4%. This is an increase from Kenvue’s previous quarterly dividend of $0.21. Kenvue’s dividend payout ratio (DPR) is presently 96.55%.

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.