Procyon Advisors LLC Decreases Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Procyon Advisors LLC trimmed its position in shares of Kenvue Inc. (NYSE:KVUE) by 6.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,637 shares of the company’s stock after selling 4,364 shares during the period. Procyon Advisors LLC’s holdings in Kenvue were worth $1,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Kenvue by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after buying an additional 17,908,497 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Kenvue by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after buying an additional 25,238,112 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Kenvue by 9.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 79,863,967 shares of the company’s stock valued at $1,451,927,000 after buying an additional 7,023,047 shares during the period. JPMorgan Chase & Co. raised its holdings in Kenvue by 11.1% during the 1st quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock valued at $1,466,147,000 after buying an additional 6,825,611 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Kenvue by 21.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after buying an additional 7,546,362 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KVUE has been the topic of several recent research reports. Citigroup decreased their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. UBS Group increased their target price on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft increased their target price on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Piper Sandler increased their target price on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Kenvue currently has an average rating of “Hold” and an average price target of $22.20.

Kenvue Price Performance

KVUE opened at $21.60 on Tuesday. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $23.55. The business’s fifty day simple moving average is $22.20 and its 200-day simple moving average is $20.18. The company has a market capitalization of $41.36 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 2.76 and a beta of 1.40. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter last year, the company earned $0.32 earnings per share. The firm’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities research analysts anticipate that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were given a dividend of $0.205 per share. The ex-dividend date was Wednesday, August 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.80%. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio (DPR) is presently 105.13%.

Kenvue 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.