Manning & Napier Advisors LLC Trims Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Manning & Napier Advisors LLC reduced its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 24.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 389,426 shares of the company’s stock after selling 126,714 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Kenvue were worth $8,314,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Public Sector Pension Investment Board boosted its stake in Kenvue by 92.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 73,637 shares of the company’s stock worth $1,339,000 after purchasing an additional 35,461 shares during the period. Creative Planning boosted its position in shares of Kenvue by 15.4% in the second quarter. Creative Planning now owns 379,045 shares of the company’s stock valued at $6,891,000 after acquiring an additional 50,562 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in shares of Kenvue by 13.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 62,687 shares of the company’s stock valued at $1,140,000 after acquiring an additional 7,564 shares during the period. Sunbelt Securities Inc. grew its stake in Kenvue by 28.3% during the second quarter. Sunbelt Securities Inc. now owns 28,766 shares of the company’s stock valued at $523,000 after acquiring an additional 6,353 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its holdings in Kenvue by 7.2% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 27,278 shares of the company’s stock worth $496,000 after acquiring an additional 1,838 shares during the period. 97.64% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KVUE. Bank of America boosted their price target on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Piper Sandler upgraded Kenvue from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $21.00 to $26.00 in a research report on Monday, January 6th. Royal Bank of Canada raised Kenvue from a “hold” rating to a “moderate buy” rating in a report on Monday, December 9th. Citigroup cut their price objective on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and lowered their target price for the company from $25.00 to $24.00 in a research note on Thursday, December 12th. One equities research 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 data from MarketBeat, Kenvue presently has an average rating of “Hold” and a consensus target price of $23.08.

Kenvue Price Performance

Shares of Kenvue stock opened at $21.35 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46. The company has a fifty day moving average of $22.05 and a 200-day moving average of $21.85. The stock has a market capitalization of $40.92 billion, a price-to-earnings ratio of 38.81, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The business 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 company’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.31 earnings per share. Equities research analysts expect that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a $0.205 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a yield of 3.84%. Kenvue’s dividend payout ratio (DPR) is currently 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.