Kenvue Inc. (NYSE:KVUE) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its holdings in Kenvue Inc. (NYSE:KVUE) by 8.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,652 shares of the company’s stock after selling 4,944 shares during the period. King Luther Capital Management Corp’s holdings in Kenvue were worth $1,241,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Massachusetts Financial Services Co. MA boosted its holdings in shares of Kenvue by 9.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 79,863,967 shares of the company’s stock valued at $1,451,927,000 after buying an additional 7,023,047 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Kenvue by 21.0% during the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock worth $789,813,000 after purchasing an additional 7,546,362 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Kenvue by 20.7% during the second quarter. American Century Companies Inc. now owns 27,382,644 shares of the company’s stock worth $497,816,000 after purchasing an additional 4,700,697 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Kenvue by 110.9% during the second quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after purchasing an additional 10,783,258 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Kenvue by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 14,923,756 shares of the company’s stock valued at $271,356,000 after purchasing an additional 41,488 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $24.08 on Friday. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $22.84 and a 200 day moving average price of $20.86. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.31. The company has a market cap of $46.17 billion, a P/E ratio of 43.78, a PEG ratio of 2.19 and a beta of 1.36.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm 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%. The company’s revenue for the quarter 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. Research analysts predict that Kenvue Inc. will post 1.07 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is 149.09%.

Analyst Upgrades and Downgrades

Several research firms have commented on KVUE. Piper Sandler lifted their price target on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Jefferies Financial Group started coverage on shares of Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Bank of America increased their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. One 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 stock. According to data from MarketBeat.com, Kenvue has an average rating of “Hold” and an average 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.