Sumitomo Mitsui Trust Group Inc. Sells 343,749 Shares of Kenvue Inc. $KVUE

Sumitomo Mitsui Trust Group Inc. cut its holdings in Kenvue Inc. (NYSE:KVUE) by 6.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,873,809 shares of the company’s stock after selling 343,749 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Kenvue were worth $84,024,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elyxium Wealth LLC acquired a new stake in shares of Kenvue during the 4th quarter worth approximately $26,000. Physician Wealth Advisors Inc. lifted its position in shares of Kenvue by 67.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock valued at $26,000 after acquiring an additional 618 shares during the period. MV Capital Management Inc. acquired a new position in shares of Kenvue during the 4th quarter valued at $28,000. Reflection Asset Management bought a new position in Kenvue during the fourth quarter worth $32,000. Finally, SBI Securities Co. Ltd. boosted its stake in Kenvue by 82.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company’s stock worth $39,000 after acquiring an additional 1,027 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on KVUE shares. Barclays decreased their price target on shares of Kenvue from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 14th. UBS Group cut their price objective on shares of Kenvue from $19.00 to $18.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Weiss Ratings upgraded Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 15th. Zacks Research lowered Kenvue from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Finally, Citigroup decreased their target price on Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. Three research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $19.33.

Insiders Place Their Bets

In related news, General Counsel Matthew Orlando sold 38,491 shares of the firm’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $17.66, for a total value of $679,751.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.59% of the company’s stock.

Kenvue Stock Up 1.6%

KVUE stock traded up $0.32 during midday trading on Friday, reaching $19.50. 9,451,469 shares of the company’s stock traded hands, compared to its average volume of 18,740,484. The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The firm’s fifty day moving average price is $18.06 and its 200-day moving average price is $17.79. Kenvue Inc. has a 52 week low of $14.02 and a 52 week high of $22.87. The company has a market cap of $37.43 billion, a price-to-earnings ratio of 22.94, a P/E/G ratio of 1.46 and a beta of 0.47.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the firm earned $0.24 earnings per share. As a group, sell-side analysts forecast that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were issued a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Wednesday, May 13th. Kenvue’s dividend payout ratio is currently 97.65%.

About Kenvue

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.