Cedar Wealth Management LLC Sells 500 Shares of Kenvue Inc. (NYSE:KVUE)

Cedar Wealth Management LLC cut its position in Kenvue Inc. (NYSE:KVUE) by 9.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,022 shares of the company’s stock after selling 500 shares during the quarter. Cedar Wealth Management LLC’s holdings in Kenvue were worth $107,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Handelsbanken Fonder AB grew its stake in shares of Kenvue by 2.9% in the fourth quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company’s stock valued at $15,846,000 after buying an additional 21,222 shares in the last quarter. Alberta Investment Management Corp lifted its holdings in Kenvue by 23.2% during the 4th quarter. Alberta Investment Management Corp now owns 582,895 shares of the company’s stock valued at $12,445,000 after purchasing an additional 109,700 shares during the last quarter. Longbow Finance SA lifted its holdings in Kenvue by 5.0% during the 4th quarter. Longbow Finance SA now owns 280,568 shares of the company’s stock valued at $5,990,000 after purchasing an additional 13,287 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Kenvue by 143.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 47,938 shares of the company’s stock valued at $1,023,000 after purchasing an additional 28,216 shares during the last quarter. Finally, CORDA Investment Management LLC. lifted its holdings in Kenvue by 1.4% during the 4th quarter. CORDA Investment Management LLC. now owns 1,253,096 shares of the company’s stock valued at $26,754,000 after purchasing an additional 17,466 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on KVUE shares. Deutsche Bank Aktiengesellschaft downgraded Kenvue from a “buy” rating to a “hold” rating and cut their price target for the company from $25.00 to $24.00 in a report on Thursday, December 12th. Citigroup dropped their target price on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. UBS Group dropped their target price on Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, February 7th. Canaccord Genuity Group boosted their price target on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Finally, Piper Sandler lifted their target price on Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $23.75.

Kenvue Stock Performance

NYSE:KVUE opened at $23.34 on Friday. The business’s 50-day moving average price is $22.08 and its two-hundred day moving average price is $22.43. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. The stock has a market cap of $44.61 billion, a P/E ratio of 44.04, a PEG ratio of 2.62 and a beta of 1.25. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. As a group, equities analysts predict that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Wednesday, February 12th. Kenvue’s payout ratio is 154.72%.

Kenvue Company Profile

Kenvue Inc operates as a consumer health company worldwide. The company operates through three segments: Self Care, Skin Health and Beauty, and Essential Health. The Self Care segment offers cough, cold and allergy, pain care, digestive health, smoking cessation, eye care, and other products under the Tylenol, Motrin, Benadryl, Nicorette, Zarbee's, ORSLTM, Rhinocort, Calpol, and Zyrtec brands.