Douglas Lane & Associates LLC Sells 65,771 Shares of Kenvue Inc. (NYSE:KVUE)

Douglas Lane & Associates LLC lessened its stake in shares of Kenvue Inc. (NYSE:KVUE) by 14.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 399,122 shares of the company’s stock after selling 65,771 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Kenvue were worth $7,256,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in KVUE. Vanguard Group Inc. boosted its holdings in Kenvue by 12.0% in the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after acquiring an additional 17,908,497 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position 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 worth $2,887,773,000 after purchasing an additional 25,238,112 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Kenvue by 6.7% in the 4th 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 position in Kenvue by 11.1% in the 1st quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock valued at $1,466,147,000 after purchasing an additional 6,825,611 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in Kenvue by 9.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 66,665,454 shares of the company’s stock valued at $1,435,307,000 after purchasing an additional 5,574,265 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on KVUE shares. Citigroup reduced their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. HSBC raised their target price on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. JPMorgan Chase & Co. lowered their price target on Kenvue from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Kenvue from $24.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Finally, Sanford C. Bernstein assumed coverage on shares of Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued 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 price target of $22.45.

Kenvue Stock Performance

Shares of NYSE KVUE traded up $2.66 during trading on Tuesday, reaching $20.85. 44,391,949 shares of the stock traded hands, compared to its average volume of 19,245,387. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The stock has a market capitalization of $39.92 billion, a P/E ratio of 26.74, a price-to-earnings-growth ratio of 2.07 and a beta of 1.38. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.10. The company has a 50-day moving average of $18.47 and a 200-day moving average of $19.41.

Kenvue (NYSE:KVUE) last issued its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.79 billion. The company’s quarterly revenue was down 24.9% compared to the same quarter last year. Analysts forecast that Kenvue Inc. will post 1.13 EPS for the current fiscal year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.93%. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, August 14th. Kenvue’s payout ratio is currently 105.13%.

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.