Wellington Management Group LLP Lowers Position in Kenvue Inc. $KVUE

Wellington Management Group LLP decreased its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 1.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 2,893,241 shares of the company’s stock after selling 28,747 shares during the period. Wellington Management Group LLP owned 0.15% of Kenvue worth $55,290,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Elyxium Wealth LLC bought a new position in shares of Kenvue in the 4th quarter worth $26,000. Johnson Financial Group Inc. bought a new stake in Kenvue during the second quarter valued at about $26,000. MV Capital Management Inc. bought a new stake in Kenvue during the fourth quarter valued at about $28,000. CoreCap Advisors LLC grew its stake in Kenvue by 64.9% in the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock valued at $29,000 after purchasing an additional 591 shares during the last quarter. Finally, Reflection Asset Management bought a new position in Kenvue in the fourth quarter worth about $32,000. Institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

Shares of KVUE opened at $18.92 on Friday. The firm has a market capitalization of $36.34 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 1.71 and a beta of 0.46. 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 Inc. has a 1-year low of $14.02 and a 1-year high of $20.69. The company’s fifty day moving average price is $19.19 and its 200-day moving average price is $18.26.

Kenvue (NYSE:KVUE) last issued its quarterly 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 business’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 EPS. On average, equities research analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Increases Dividend

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

Analyst Upgrades and Downgrades

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

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.