Forsta AP Fonden Sells 4,000 Shares of Kenvue Inc. (NYSE:KVUE)

Forsta AP Fonden lowered its stake in shares of Kenvue Inc. (NYSE:KVUE) by 1.0% during the fourth quarter, Holdings Channel reports. The fund owned 412,775 shares of the company’s stock after selling 4,000 shares during the period. Forsta AP Fonden’s holdings in Kenvue were worth $8,813,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust increased its holdings in shares of Kenvue by 438.4% in the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock valued at $25,000 after purchasing an additional 947 shares in the last quarter. Riverview Trust Co bought a new position in Kenvue in the 3rd quarter valued at $30,000. Geneos Wealth Management Inc. acquired a new stake in shares of Kenvue in the 4th quarter valued at $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Kenvue during the third quarter worth $35,000. Finally, Fortitude Family Office LLC raised its position in shares of Kenvue by 106.6% during the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock worth $32,000 after acquiring an additional 777 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Stock Up 1.9 %

KVUE stock opened at $21.72 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The stock has a market capitalization of $41.64 billion, a P/E ratio of 39.48, a P/E/G ratio of 1.99 and a beta of 1.46. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $24.46. The business has a 50-day moving average of $22.00 and a 200-day moving average of $21.85.

Kenvue (NYSE:KVUE) last released its quarterly earnings results 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. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the firm posted $0.31 EPS. The business’s revenue was down .4% on a year-over-year basis. On average, sell-side analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm 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 of this dividend is Wednesday, February 12th. This represents a $0.82 annualized dividend and a yield of 3.78%. Kenvue’s payout ratio is currently 149.09%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. UBS Group lowered their price objective on Kenvue from $24.00 to $23.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Barclays lowered their price target on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Citigroup cut their price objective on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft lowered shares of Kenvue from a “buy” rating to a “hold” rating and lowered their target price for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. upped their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. One 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 MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.08.

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.