Oppenheimer & Co. Inc. Sells 13,168 Shares of Kenvue Inc. (NYSE:KVUE)

Oppenheimer & Co. Inc. lowered its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 7.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,216 shares of the company’s stock after selling 13,168 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Kenvue were worth $3,798,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Saturna Capital Corp lifted its stake in Kenvue by 29.9% in the 3rd quarter. Saturna Capital Corp now owns 1,334,860 shares of the company’s stock worth $30,875,000 after purchasing an additional 307,039 shares in the last quarter. Haverford Trust Co increased its holdings in shares of Kenvue by 0.5% in the third quarter. Haverford Trust Co now owns 441,153 shares of the company’s stock worth $10,204,000 after purchasing an additional 2,128 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Kenvue by 66.2% in the third quarter. Victory Capital Management Inc. now owns 1,328,074 shares of the company’s stock worth $30,718,000 after buying an additional 528,849 shares in the last quarter. Winslow Asset Management Inc. boosted its stake in Kenvue by 1.1% during the third quarter. Winslow Asset Management Inc. now owns 154,929 shares of the company’s stock valued at $3,584,000 after buying an additional 1,657 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in Kenvue by 13.8% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,800,461 shares of the company’s stock valued at $111,035,000 after buying an additional 583,887 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KVUE. UBS Group upped their price objective on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Jefferies Financial Group initiated coverage on Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target for the company. JPMorgan Chase & Co. upped their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Finally, Bank of America raised their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $22.64.

Kenvue Stock Up 1.0 %

Shares of NYSE:KVUE opened at $23.84 on Friday. The business’s 50 day moving average is $22.75 and its 200 day moving average is $20.65. The stock has a market cap of $45.70 billion, a P/E ratio of 43.31, a price-to-earnings-growth ratio of 2.10 and a beta of 1.36. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.13. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

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

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors 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 3.44%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is 149.09%.

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.