Kenvue Inc. (NYSE:KVUE) Shares Sold by Sound Income Strategies LLC

Sound Income Strategies LLC lessened its position in shares of Kenvue Inc. (NYSE:KVUE) by 11.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 556,646 shares of the company’s stock after selling 72,426 shares during the quarter. Sound Income Strategies LLC’s holdings in Kenvue were worth $11,884,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC increased its holdings 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 acquiring an additional 3,075,019 shares in the last quarter. State Street Corp grew its position in shares of Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock valued at $2,942,458,000 after purchasing an additional 18,283,473 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Kenvue by 8.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock worth $2,011,832,000 after purchasing an additional 7,115,374 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Kenvue by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock worth $1,029,810,000 after purchasing an additional 399,846 shares during the last quarter. Finally, Harris Associates L P raised its position in shares of Kenvue by 7.5% during the 3rd quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock worth $727,658,000 after purchasing an additional 2,186,114 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Stock Performance

NYSE:KVUE opened at $20.75 on Friday. The company has a market cap of $39.77 billion, a P/E ratio of 37.72, a P/E/G ratio of 1.99 and a beta of 1.46. The firm’s 50 day moving average is $22.26 and its two-hundred day moving average is $21.74. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week 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.

Kenvue (NYSE:KVUE) last issued its earnings results 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 return on equity of 21.43% and a net margin of 6.88%. The business had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same period last year, the company posted $0.31 EPS. The business’s quarterly revenue was down .4% on a year-over-year basis. Analysts expect that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend is Wednesday, February 12th. Kenvue’s payout ratio is currently 149.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. UBS Group lowered their target price on Kenvue from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft lowered Kenvue from a “buy” rating to a “hold” rating and decreased their price objective for the company from $25.00 to $24.00 in a research note on Thursday, December 12th. Barclays reduced their target price on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Piper Sandler upgraded shares of Kenvue from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $21.00 to $26.00 in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. boosted 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $23.08.

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.