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

Fiduciary Group LLC trimmed its stake in shares of Kenvue Inc. (NYSE:KVUE) by 10.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 106,478 shares of the company’s stock after selling 12,059 shares during the period. Fiduciary Group LLC’s holdings in Kenvue were worth $1,936,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Principal Securities Inc. bought a new stake in Kenvue in the 4th quarter worth approximately $112,000. NorthRock Partners LLC increased its position in Kenvue by 5.4% in the fourth quarter. NorthRock Partners LLC now owns 19,754 shares of the company’s stock worth $425,000 after purchasing an additional 1,009 shares during the last quarter. Financial Advocates Investment Management bought a new stake in Kenvue in the fourth quarter worth $207,000. Marathon Capital Management raised its stake in Kenvue by 5.0% during the fourth quarter. Marathon Capital Management now owns 139,069 shares of the company’s stock valued at $2,994,000 after purchasing an additional 6,591 shares in the last quarter. Finally, Independent Advisor Alliance bought a new position in Kenvue during the fourth quarter valued at $644,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on KVUE. JPMorgan Chase & Co. boosted their target price on shares of Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. 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. Deutsche Bank Aktiengesellschaft increased their price target on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Citigroup dropped their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 target price on shares of Kenvue in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.44.

Kenvue Stock Performance

KVUE stock opened at $23.39 on Friday. The firm has a market cap of $44.80 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 2.92 and a beta of 1.40. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $23.47. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The business’s fifty day simple moving average is $20.41 and its two-hundred day simple moving average is $19.81.

Kenvue (NYSE:KVUE) last announced 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. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The firm’s revenue for the quarter was down .3% on a year-over-year basis. During the same quarter last year, the business posted $0.32 EPS. Analysts predict that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Wednesday, August 14th. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s payout ratio is currently 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.