W.G. Shaheen & Associates DBA Whitney & Co Decreases Position in Kenvue Inc. (NYSE:KVUE)

W.G. Shaheen & Associates DBA Whitney & Co decreased its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 1.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 398,968 shares of the company’s stock after selling 7,607 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Kenvue were worth $9,228,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in Kenvue during the third quarter worth approximately $30,000. Ashton Thomas Securities LLC acquired a new position in Kenvue during the third quarter worth approximately $35,000. Deseret Mutual Benefit Administrators increased its position in 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 buying an additional 651 shares during the period. Studio Investment Management LLC increased its position in 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 buying an additional 845 shares during the period. Finally, AlphaMark Advisors LLC acquired a new position in Kenvue during the third quarter worth approximately $77,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Down 0.4 %

Kenvue stock opened at $23.73 on Tuesday. The stock’s 50 day moving average price is $22.77 and its 200 day moving average price is $20.71. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The company has a market cap of $45.50 billion, a PE ratio of 43.15, a price-to-earnings-growth ratio of 2.16 and a beta of 1.36. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.13.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. Kenvue’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.31 earnings per share. On average, sell-side analysts predict that Kenvue Inc. will post 1.07 EPS for the current fiscal 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 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 yield of 3.46%. Kenvue’s payout ratio is 149.09%.

Wall Street Analyst Weigh In

KVUE has been the topic of several research analyst reports. Royal Bank of Canada lowered 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. Bank of America boosted their target price on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft boosted their target price on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Jefferies Financial Group initiated coverage on Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price on the stock. Finally, UBS Group boosted their target price on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a 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 issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.64.

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.