Easterly Investment Partners LLC Sells 433,345 Shares of Kenvue Inc. (NYSE:KVUE)

Easterly Investment Partners LLC cut its holdings in Kenvue Inc. (NYSE:KVUE) by 74.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 148,991 shares of the company’s stock after selling 433,345 shares during the quarter. Easterly Investment Partners LLC’s holdings in Kenvue were worth $3,446,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Manchester Capital Management LLC boosted its stake in Kenvue by 80.8% in the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after acquiring an additional 530 shares during the last quarter. Riverview Trust Co bought a new position in Kenvue in the third quarter valued at approximately $30,000. Studio Investment Management LLC boosted its position in shares of Kenvue by 52.1% during the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after purchasing an additional 845 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its position in shares of Kenvue by 49.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after purchasing an additional 651 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Kenvue during the second quarter worth $61,000. 97.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on KVUE shares. Royal Bank of Canada cut shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target on the stock. in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price target 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. Deutsche Bank Aktiengesellschaft lifted 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. 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 research report on Tuesday, October 22nd. Finally, UBS Group lifted their price target on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $22.64.

Kenvue Stock Up 2.6 %

KVUE stock traded up $0.60 during midday trading on Friday, hitting $23.57. The company’s stock had a trading volume of 3,824,438 shares, compared to its average volume of 18,082,846. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $23.61. The company’s fifty day moving average price is $22.61 and its 200 day moving average price is $20.50. The stock has a market capitalization of $45.14 billion, a P/E ratio of 39.60, a PEG ratio of 3.01 and a beta of 1.36.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the business earned $0.31 EPS. The company’s revenue was down .4% compared to the same quarter last year. As a group, equities research analysts predict that Kenvue Inc. will post 1.08 EPS for the current year.

Kenvue Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.48%. Kenvue’s payout ratio is currently 141.38%.

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.