Wellington Management Group LLP Reduces Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Wellington Management Group LLP cut its holdings in Kenvue Inc. (NYSE:KVUE) by 13.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,363,434 shares of the company’s stock after selling 10,724,038 shares during the period. Wellington Management Group LLP owned about 3.58% of Kenvue worth $1,459,559,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in KVUE. Alerus Financial NA boosted its position in Kenvue by 0.3% during the third quarter. Alerus Financial NA now owns 191,345 shares of the company’s stock worth $4,426,000 after acquiring an additional 491 shares during the last quarter. Kiley Juergens Wealth Management LLC lifted its stake in shares of Kenvue by 1.9% during the 4th quarter. Kiley Juergens Wealth Management LLC now owns 27,110 shares of the company’s stock worth $579,000 after purchasing an additional 500 shares during the period. Principle Wealth Partners LLC boosted its holdings in shares of Kenvue by 3.7% during the fourth quarter. Principle Wealth Partners LLC now owns 14,194 shares of the company’s stock worth $303,000 after purchasing an additional 500 shares during the last quarter. White Pine Capital LLC grew its position in shares of Kenvue by 1.0% in the fourth quarter. White Pine Capital LLC now owns 54,572 shares of the company’s stock valued at $1,165,000 after purchasing an additional 542 shares during the period. Finally, Deseret Mutual Benefit Administrators increased its stake in Kenvue by 29.0% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company’s stock valued at $54,000 after purchasing an additional 568 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Stock Performance

Kenvue stock opened at $23.74 on Monday. The firm has a market capitalization of $45.36 billion, a PE ratio of 44.78, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.46. The stock’s 50 day moving average price is $22.32 and its 200 day moving average price is $22.45. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. As a group, sell-side analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 annualized dividend and a dividend yield of 3.45%. Kenvue’s dividend payout ratio is presently 154.72%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on KVUE shares. UBS Group decreased their price target on Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Canaccord Genuity Group boosted their target price on shares of Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. Piper Sandler boosted their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Finally, Barclays upped their price objective on Kenvue from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.00.

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.