Swedbank AB Sells 79,113 Shares of Kenvue Inc. (NYSE:KVUE)

Swedbank AB cut its stake in shares of Kenvue Inc. (NYSE:KVUE) by 9.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 787,863 shares of the company’s stock after selling 79,113 shares during the quarter. Swedbank AB’s holdings in Kenvue were worth $18,223,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of KVUE. Advisors Asset Management Inc. bought a new position in shares of Kenvue in the 1st quarter valued at about $206,000. SVB Wealth LLC lifted its stake in Kenvue by 7.3% in the 1st quarter. SVB Wealth LLC now owns 14,042 shares of the company’s stock valued at $301,000 after purchasing an additional 952 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Kenvue by 53.7% during the first quarter. Janus Henderson Group PLC now owns 165,162 shares of the company’s stock worth $3,541,000 after purchasing an additional 57,679 shares during the period. California State Teachers Retirement System increased its position in Kenvue by 1.2% during the first quarter. California State Teachers Retirement System now owns 2,854,690 shares of the company’s stock worth $61,262,000 after buying an additional 33,494 shares during the last quarter. Finally, Tidal Investments LLC raised its stake in Kenvue by 47.5% in the first quarter. Tidal Investments LLC now owns 131,764 shares of the company’s stock valued at $2,828,000 after buying an additional 42,418 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Kenvue Trading Down 0.5 %

Shares of KVUE stock opened at $24.12 on Wednesday. The stock has a market cap of $46.24 billion, a P/E ratio of 43.85, a price-to-earnings-growth ratio of 2.19 and a beta of 1.36. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $24.46. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The stock has a 50 day simple moving average of $22.87 and a 200 day simple moving average of $20.92.

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

Kenvue Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. UBS Group upped their price objective on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Piper Sandler raised their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Bank of America upped their price target 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. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One 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 company. Based on data from MarketBeat.com, Kenvue currently has an average rating of “Hold” and a consensus price target 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.