Princeton Global Asset Management LLC Trims Stock Position in Kenvue Inc. (NYSE:KVUE)

Princeton Global Asset Management LLC trimmed its holdings in Kenvue Inc. (NYSE:KVUE) by 25.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 133,184 shares of the company’s stock after selling 45,979 shares during the period. Princeton Global Asset Management LLC’s holdings in Kenvue were worth $3,081,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KVUE. First Trust Direct Indexing L.P. lifted its stake in shares of Kenvue by 29.2% in the 1st quarter. First Trust Direct Indexing L.P. now owns 24,463 shares of the company’s stock valued at $525,000 after purchasing an additional 5,524 shares during the last quarter. Diversify Advisory Services LLC acquired a new position in Kenvue in the first quarter valued at about $565,000. Tokio Marine Asset Management Co. Ltd. lifted its position in Kenvue by 8.3% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 41,507 shares of the company’s stock valued at $891,000 after buying an additional 3,169 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in Kenvue during the first quarter worth about $106,000. Finally, Daiwa Securities Group Inc. increased its position in shares of Kenvue by 18.5% during the first quarter. Daiwa Securities Group Inc. now owns 197,654 shares of the company’s stock valued at $4,242,000 after acquiring an additional 30,802 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analyst Ratings Changes

KVUE has been the subject of a number of research analyst reports. Royal Bank of Canada cut shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a research report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft raised their price target on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Citigroup cut their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Bank of America raised their target price on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group assumed coverage on shares of Kenvue in a research note on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.64.

Kenvue Stock Performance

Shares of Kenvue stock opened at $22.73 on Friday. The business has a 50-day simple moving average of $22.53 and a 200-day simple moving average of $20.41. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.55. The company has a market cap of $43.53 billion, a PE ratio of 39.19, a P/E/G ratio of 3.00 and a beta of 1.35.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter in the previous year, the business posted $0.32 EPS. The firm’s revenue was down .3% on a year-over-year basis. On average, equities research analysts forecast that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio is presently 141.38%.

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.