Kenvue Inc. (NYSE:KVUE) Stake Cut by Woodline Partners LP

Woodline Partners LP lessened its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 18.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,053,148 shares of the company’s stock after selling 232,741 shares during the quarter. Woodline Partners LP owned approximately 0.05% of Kenvue worth $22,485,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Grove Bank & Trust boosted its holdings in shares of Kenvue by 438.4% during the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after purchasing an additional 947 shares during the period. Geneos Wealth Management Inc. purchased a new stake in Kenvue in the 4th quarter worth approximately $29,000. SRS Capital Advisors Inc. boosted its stake in shares of Kenvue by 67.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock valued at $30,000 after buying an additional 571 shares during the period. Asset Planning Inc acquired a new stake in shares of Kenvue during the 4th quarter valued at $42,000. Finally, Clarity Asset Management Inc. purchased a new position in shares of Kenvue during the 4th quarter valued at $45,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Stock Up 0.6%

Shares of KVUE stock opened at $24.15 on Wednesday. The stock’s 50 day simple moving average is $23.20 and its 200 day simple moving average is $22.61. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $25.17. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The company has a market capitalization of $46.34 billion, a price-to-earnings ratio of 45.57, a PEG ratio of 2.62 and a beta of 1.02.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter last year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was down 3.9% compared to the same quarter last year. As a group, research analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be issued a $0.205 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $0.82 annualized dividend and a yield of 3.40%. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

Analysts Set New Price Targets

Several brokerages recently issued reports on KVUE. Citigroup increased their price objective on Kenvue from $22.00 to $24.50 and gave the stock a “neutral” rating in a report on Friday, May 9th. Redburn Atlantic initiated coverage on Kenvue in a research report on Thursday, April 10th. They issued a “neutral” rating and a $23.50 target price on the stock. Evercore ISI initiated coverage on Kenvue in a research note on Monday, March 24th. They set an “in-line” rating and a $25.00 price target for the company. 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, UBS Group increased their price objective on Kenvue from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Kenvue has an average rating of “Hold” and an average price target of $25.33.

About Kenvue

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.