Healthcare of Ontario Pension Plan Trust Fund Decreases Holdings in Kenvue Inc. (NYSE:KVUE)

Healthcare of Ontario Pension Plan Trust Fund trimmed its position in shares of Kenvue Inc. (NYSE:KVUE) by 87.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 600,010 shares of the company’s stock after selling 4,257,900 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Kenvue were worth $13,878,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Advisors Asset Management Inc. bought a new position in Kenvue during the 1st quarter worth approximately $206,000. Janus Henderson Group PLC grew its position in Kenvue by 53.7% during the 1st quarter. Janus Henderson Group PLC now owns 165,162 shares of the company’s stock worth $3,541,000 after acquiring an additional 57,679 shares during the last quarter. Tidal Investments LLC grew its position in Kenvue by 47.5% during the 1st quarter. Tidal Investments LLC now owns 131,764 shares of the company’s stock worth $2,828,000 after acquiring an additional 42,418 shares during the last quarter. LRI Investments LLC bought a new position in Kenvue during the 1st quarter worth approximately $106,000. Finally, Swedbank AB bought a new position in Kenvue during the 1st quarter worth approximately $27,856,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Trading Up 0.0 %

NYSE KVUE opened at $24.13 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. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. The firm has a market capitalization of $46.26 billion, a PE ratio of 43.87, a P/E/G ratio of 2.20 and a beta of 1.36. The stock’s 50 day moving average is $22.92 and its 200 day moving average is $20.96.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The company 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 company posted $0.31 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. Research analysts forecast that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.205 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 annualized dividend and a dividend yield of 3.40%. Kenvue’s dividend payout ratio is presently 149.09%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KVUE shares. UBS Group raised 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. Piper Sandler raised 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 assumed coverage on Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective on the stock. Royal Bank of Canada lowered 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, Bank of America lifted their price objective on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. 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 company’s stock. According to MarketBeat, the company has an average 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.