Fiduciary Group LLC Trims Stake in Kenvue Inc. (NYSE:KVUE)

Fiduciary Group LLC lessened its position in Kenvue Inc. (NYSE:KVUE) by 10.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 106,478 shares of the company’s stock after selling 12,059 shares during the quarter. Fiduciary Group LLC’s holdings in Kenvue were worth $1,936,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Stephens Inc. AR grew its position in shares of Kenvue by 86.1% in the 4th quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock worth $1,242,000 after buying an additional 26,700 shares during the period. Stifel Financial Corp boosted its position in shares of Kenvue by 60.4% in the 4th quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock worth $16,041,000 after purchasing an additional 280,591 shares in the last quarter. Raleigh Capital Management Inc. increased its position in Kenvue by 93,834.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 43,210 shares of the company’s stock valued at $930,000 after buying an additional 43,164 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Kenvue by 2.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock valued at $34,417,000 after buying an additional 40,995 shares during the last quarter. Finally, Cornerstone Wealth Group LLC boosted its holdings in Kenvue by 176.2% in the first quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock worth $7,519,000 after acquiring an additional 223,537 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KVUE has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Citigroup lowered their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. UBS Group lifted their target price on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Kenvue in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $21.44.

Kenvue Trading Up 1.3 %

NYSE:KVUE opened at $23.39 on Friday. The firm has a market capitalization of $44.80 billion, a price-to-earnings ratio of 29.99, a price-to-earnings-growth ratio of 2.92 and a beta of 1.40. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. The business has a fifty day moving average price of $20.41 and a 200-day moving average price of $19.81. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.47.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The business’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. Sell-side analysts forecast that Kenvue Inc. will post 1.08 EPS for the current year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. This is a boost from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.51%. Kenvue’s dividend payout ratio is 105.13%.

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.