W.G. Shaheen & Associates DBA Whitney & Co Decreases Stock Holdings in Kenvue Inc. (NYSE:KVUE)

W.G. Shaheen & Associates DBA Whitney & Co decreased its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 398,968 shares of the company’s stock after selling 7,607 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Kenvue were worth $9,228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co acquired a new position in Kenvue in the 3rd quarter valued at $30,000. Ashton Thomas Securities LLC acquired a new position in Kenvue in the 3rd quarter valued at $35,000. Studio Investment Management LLC raised its stake in Kenvue by 52.1% in the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after purchasing an additional 845 shares during the last quarter. Deseret Mutual Benefit Administrators raised its stake in Kenvue by 49.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after purchasing an additional 651 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Kenvue in the 2nd quarter valued at $61,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Down 0.4 %

Shares of NYSE:KVUE opened at $23.73 on Tuesday. The business has a 50-day moving average price of $22.77 and a 200 day moving average price of $20.71. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.13. The company has a market capitalization of $45.50 billion, a price-to-earnings ratio of 43.15, a PEG ratio of 2.16 and a beta of 1.36. 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 (NYSE:KVUE) last announced its earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period last year, the business posted $0.31 EPS. Kenvue’s revenue for the quarter was down .4% on a year-over-year basis. Sell-side analysts expect that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date is Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is 149.09%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Royal Bank of Canada downgraded Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a research note on Tuesday, September 24th. Bank of America raised their target price on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised their target price on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft raised 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, Jefferies Financial Group assumed coverage on Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and a consensus target price of $22.64.

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.