Fernwood Investment Management LLC Lowers Position in Kenvue Inc. (NYSE:KVUE)

Fernwood Investment Management LLC trimmed its position in shares of Kenvue Inc. (NYSE:KVUE) by 9.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,794 shares of the company’s stock after selling 2,512 shares during the quarter. Fernwood Investment Management LLC’s holdings in Kenvue were worth $550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Leo Wealth LLC grew its position in Kenvue by 0.3% in the 3rd quarter. Leo Wealth LLC now owns 151,611 shares of the company’s stock worth $3,507,000 after purchasing an additional 481 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Kenvue by 6.2% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 8,400 shares of the company’s stock worth $194,000 after buying an additional 492 shares during the last quarter. Wolff Wiese Magana LLC grew its holdings in shares of Kenvue by 0.7% in the third quarter. Wolff Wiese Magana LLC now owns 76,999 shares of the company’s stock valued at $1,781,000 after acquiring an additional 501 shares in the last quarter. Marathon Capital Management increased its position in shares of Kenvue by 0.3% during the second quarter. Marathon Capital Management now owns 149,699 shares of the company’s stock valued at $2,722,000 after acquiring an additional 514 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its holdings in Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after acquiring an additional 530 shares during the period. Institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on KVUE. UBS Group raised their target price on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Jefferies Financial Group initiated coverage on shares of Kenvue in a report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective for the company. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Piper Sandler raised their price target on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Finally, Bank of America lifted their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.64.

Kenvue Stock Performance

Shares of NYSE KVUE traded down $0.20 during mid-day trading on Friday, hitting $22.73. The company had a trading volume of 15,528,910 shares, compared to its average volume of 14,885,832. 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 Inc. has a 1 year low of $17.67 and a 1 year high of $23.55. The company has a market capitalization of $43.53 billion, a price-to-earnings ratio of 39.19, a P/E/G ratio of 3.00 and a beta of 1.35. The stock’s 50-day moving average price is $22.53 and its 200-day moving average price is $20.41.

Kenvue (NYSE:KVUE) last posted its earnings results 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 business had revenue of $4 billion during 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. On average, sell-side analysts forecast that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio is presently 141.38%.

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.