Legacy Capital Wealth Partners LLC Reduces Stock Position in Kenvue Inc. (NYSE:KVUE)

Legacy Capital Wealth Partners LLC lessened its stake in Kenvue Inc. (NYSE:KVUE) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,339 shares of the company’s stock after selling 3,164 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Kenvue were worth $910,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Lorne Steinberg Wealth Management Inc. increased its position in Kenvue by 59.0% during the second quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company’s stock valued at $2,812,000 after acquiring an additional 57,375 shares during the last quarter. Kennon Green & Company LLC boosted its holdings in shares of Kenvue by 140.7% in the second quarter. Kennon Green & Company LLC now owns 159,106 shares of the company’s stock worth $2,893,000 after buying an additional 93,008 shares during the last quarter. Czech National Bank grew its position in Kenvue by 20.3% during the second quarter. Czech National Bank now owns 364,886 shares of the company’s stock valued at $6,634,000 after buying an additional 61,635 shares during the period. Crestwood Advisors Group LLC increased its holdings in Kenvue by 14.8% during the second quarter. Crestwood Advisors Group LLC now owns 1,537,348 shares of the company’s stock valued at $27,950,000 after buying an additional 198,607 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position in Kenvue by 16,051.1% in the first 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 during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Trading Up 3.1 %

KVUE stock opened at $23.68 on Friday. 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 1-year low of $17.67 and a 1-year high of $23.72. The business has a 50 day simple moving average of $22.65 and a two-hundred day simple moving average of $20.54. The company has a market capitalization of $45.35 billion, a price-to-earnings ratio of 40.83, a PEG ratio of 2.94 and a beta of 1.36.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. Kenvue’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. Research analysts anticipate that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given 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 3.46%. Kenvue’s payout ratio is 141.38%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective for the company. Bank of America boosted their price target on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. UBS Group upped their price target on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a research report on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.64.

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.