Wesleyan Assurance Society Sells 10,248 Shares of Kenvue Inc. (NYSE:KVUE)

Wesleyan Assurance Society decreased its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 11.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,652 shares of the company’s stock after selling 10,248 shares during the quarter. Wesleyan Assurance Society’s holdings in Kenvue were worth $1,765,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Kenvue in the fourth quarter valued at about $521,348,000. Starboard Value LP bought a new position in Kenvue in the fourth quarter valued at approximately $467,864,000. Franklin Resources Inc. grew its stake in Kenvue by 61.5% in the fourth quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company’s stock valued at $912,059,000 after purchasing an additional 16,269,721 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Kenvue by 12.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company’s stock worth $2,085,070,000 after purchasing an additional 10,682,003 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Kenvue by 3.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company’s stock worth $5,249,665,000 after purchasing an additional 8,211,748 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on KVUE shares. UBS Group raised their price objective on Kenvue from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Redburn Atlantic began coverage on shares of Kenvue in a research note on Thursday, April 10th. They set a “neutral” rating and a $23.50 target price for the company. Canaccord Genuity Group lifted their target price on shares of Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Citigroup upped their price target on shares of Kenvue from $22.00 to $24.50 and gave the company a “neutral” rating in a research note on Friday, May 9th. Finally, Evercore ISI assumed coverage on shares of Kenvue in a research report on Monday, March 24th. They set an “in-line” rating and a $25.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $25.33.

Kenvue Stock Down 0.8%

Shares of KVUE opened at $23.99 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $25.17. The firm’s 50 day moving average is $23.18 and its 200-day moving average is $22.60. The stock has a market capitalization of $46.03 billion, a PE ratio of 45.26, a P/E/G ratio of 2.62 and a beta of 1.02.

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

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.42%. Kenvue’s payout ratio is 149.09%.

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.