Daymark Wealth Partners LLC Sells 6,996 Shares of Kenvue Inc. (NYSE:KVUE)

Daymark Wealth Partners LLC cut its holdings in Kenvue Inc. (NYSE:KVUE) by 31.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,059 shares of the company’s stock after selling 6,996 shares during the period. Daymark Wealth Partners LLC’s holdings in Kenvue were worth $348,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in KVUE. Price T Rowe Associates Inc. MD grew its holdings in Kenvue by 23.1% in the 1st 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 buying an additional 25,238,112 shares during the last quarter. Vanguard Group Inc. increased its stake in Kenvue by 12.0% in the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after acquiring an additional 17,908,497 shares during the period. Van ECK Associates Corp raised its position in Kenvue by 110.9% in the second quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after purchasing an additional 10,783,258 shares in the last quarter. Clearbridge Investments LLC lifted its stake in Kenvue by 16,051.1% during the first quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock worth $210,600,000 after purchasing an additional 9,752,836 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Kenvue by 21.0% during the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after purchasing an additional 7,546,362 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Jefferies Financial Group started coverage on Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price for the company. UBS Group raised their price objective on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Piper Sandler upped their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price for the company. in a research note on Tuesday, September 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $22.10.

Kenvue Trading Down 1.0 %

Shares of NYSE:KVUE opened at $21.32 on Friday. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a market cap of $40.82 billion, a price-to-earnings ratio of 27.33, a PEG ratio of 2.92 and a beta of 1.40. The company’s fifty day simple moving average is $22.08 and its 200 day simple moving average is $20.19. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $23.55.

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

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were issued a dividend of $0.205 per share. This is an increase from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, August 14th. This represents a $0.82 annualized dividend and a yield of 3.85%. Kenvue’s dividend payout ratio (DPR) is currently 105.13%.

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.