Captrust Financial Advisors Trims Holdings in Kenvue Inc. (NYSE:KVUE)

Captrust Financial Advisors cut its holdings in Kenvue Inc. (NYSE:KVUE) by 7.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,977 shares of the company’s stock after selling 4,483 shares during the quarter. Captrust Financial Advisors’ holdings in Kenvue were worth $1,248,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC grew its position in Kenvue by 2.3% during the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after purchasing an additional 3,075,019 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in Kenvue by 8.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after purchasing an additional 7,115,374 shares during the last quarter. Bank of New York Mellon Corp grew its position in Kenvue by 21.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after purchasing an additional 7,546,362 shares during the last quarter. American Century Companies Inc. grew its position in Kenvue by 20.7% during the 2nd quarter. American Century Companies Inc. now owns 27,382,644 shares of the company’s stock valued at $497,816,000 after purchasing an additional 4,700,697 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Kenvue by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,411,207 shares of the company’s stock valued at $564,689,000 after purchasing an additional 547,874 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Jefferies Financial Group started coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective on the stock. Bank of America upped their target price on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Piper Sandler upped their target price on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada cut shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price on the stock. in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.64.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $22.84 on Friday. The firm’s 50 day moving average price is $22.97 and its 200-day moving average price is $21.10. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. 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 stock has a market capitalization of $43.79 billion, a PE ratio of 41.53, a price-to-earnings-growth ratio of 2.10 and a beta of 1.36.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the prior year, the business earned $0.31 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. Equities research analysts expect that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Wednesday, November 13th. Kenvue’s payout ratio is 149.09%.

Kenvue Company 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.