Healthcare of Ontario Pension Plan Trust Fund Lowers Position in Kenvue Inc. (NYSE:KVUE)

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in Kenvue Inc. (NYSE:KVUE) by 87.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 600,010 shares of the company’s stock after selling 4,257,900 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Kenvue were worth $13,878,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Riverview Trust Co purchased a new stake in Kenvue in the 3rd quarter valued at $30,000. Ashton Thomas Securities LLC purchased a new stake in Kenvue in the 3rd quarter valued at $35,000. Deseret Mutual Benefit Administrators raised its position 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 buying an additional 651 shares during the last quarter. Studio Investment Management LLC raised its position 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 buying an additional 845 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Kenvue in the 3rd quarter valued at $71,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KVUE has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. 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. Piper Sandler upped their price objective on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Bank of America upped their price objective on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $22.64.

Kenvue Stock Up 0.0 %

Shares of NYSE KVUE opened at $24.13 on Friday. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The business has a 50-day simple moving average of $22.92 and a two-hundred day simple moving average of $20.96. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company has a market cap of $46.26 billion, a P/E ratio of 43.87, a P/E/G ratio of 2.20 and a beta of 1.36.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the firm posted $0.31 EPS. The company’s revenue was down .4% compared to the same quarter last year. Research analysts anticipate that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $0.205 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 annualized dividend and a dividend yield of 3.40%. Kenvue’s payout ratio is currently 149.09%.

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.