Lederer & Associates Investment Counsel CA Has $1.03 Million Position in Kenvue Inc. (NYSE:KVUE)

Lederer & Associates Investment Counsel CA cut its stake in Kenvue Inc. (NYSE:KVUE) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,677 shares of the company’s stock after selling 3,325 shares during the period. Lederer & Associates Investment Counsel CA’s holdings in Kenvue were worth $1,030,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Kenvue by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after buying an additional 17,908,497 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Kenvue by 23.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after acquiring an additional 25,238,112 shares in the last quarter. Wellington Management Group LLP raised its holdings in Kenvue by 6.7% in the fourth quarter. Wellington Management Group LLP now owns 76,501,956 shares of the company’s stock worth $1,647,087,000 after purchasing an additional 4,815,126 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Kenvue by 11.1% in the first quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock worth $1,466,147,000 after acquiring an additional 6,825,611 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Kenvue by 9.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 66,665,454 shares of the company’s stock valued at $1,435,307,000 after buying an additional 5,574,265 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price objective on Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. HSBC lifted their target price on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Citigroup dropped their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 price target on shares of Kenvue in a research report on Wednesday, August 7th. Finally, UBS Group boosted 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $22.64.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $22.03 on Wednesday. The business’s 50 day simple moving average is $19.67 and its 200-day simple moving average is $19.60. The firm has a market capitalization of $42.18 billion, a price-to-earnings ratio of 28.33, a price-to-earnings-growth ratio of 2.76 and a beta of 1.38. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $22.98.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 EPS. As a group, equities analysts forecast that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were paid a dividend of $0.205 per share. This is a boost from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a dividend yield of 3.72%. The ex-dividend date was Wednesday, August 14th. Kenvue’s dividend payout ratio is 105.13%.

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.