Raleigh Capital Management Inc. Trims Stock Position in Kenvue Inc. (NYSE:KVUE)

Raleigh Capital Management Inc. trimmed its holdings in Kenvue Inc. (NYSE:KVUE) by 2.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,782 shares of the company’s stock after selling 1,092 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Kenvue were worth $990,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Kenvue by 23.1% in 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 purchasing an additional 25,238,112 shares during the period. Vanguard Group Inc. raised its position in shares of Kenvue by 12.0% in the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after acquiring an additional 17,908,497 shares during the period. Van ECK Associates Corp boosted its stake in shares of Kenvue by 110.9% during the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after acquiring an additional 10,783,258 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Kenvue by 16,051.1% during the 1st quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock worth $210,600,000 after acquiring an additional 9,752,836 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of 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 acquiring 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

A number of brokerages have issued reports on KVUE. Piper Sandler increased their price target on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. UBS Group lifted their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Citigroup dropped their target price on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.20.

Kenvue Price Performance

KVUE stock opened at $22.93 on Tuesday. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $23.55. The firm has a market capitalization of $43.91 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 2.76 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 50 day simple moving average of $22.30 and a 200-day simple moving average of $20.22.

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

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.58%. Kenvue’s dividend payout ratio is currently 105.13%.

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.