Fmr LLC Sells 8,942,674 Shares of Kenvue Inc. (NYSE:KVUE)

Fmr LLC lowered its stake in Kenvue Inc. (NYSE:KVUE) by 6.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 128,972,819 shares of the company’s stock after selling 8,942,674 shares during the quarter. Fmr LLC owned about 0.07% of Kenvue worth $2,753,570,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of KVUE. Janus Henderson Group PLC increased its stake in shares of Kenvue by 40.6% in the 3rd quarter. Janus Henderson Group PLC now owns 219,576 shares of the company’s stock valued at $5,080,000 after buying an additional 63,400 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in Kenvue by 12.8% in the third quarter. Integrated Wealth Concepts LLC now owns 35,022 shares of the company’s stock valued at $810,000 after acquiring an additional 3,962 shares during the last quarter. Quarry LP increased its position in Kenvue by 311.3% in the third quarter. Quarry LP now owns 3,241 shares of the company’s stock worth $75,000 after purchasing an additional 2,453 shares during the period. Quantinno Capital Management LP raised its holdings in Kenvue by 168.4% during the 3rd quarter. Quantinno Capital Management LP now owns 81,314 shares of the company’s stock worth $1,881,000 after purchasing an additional 51,016 shares during the last quarter. Finally, Voya Financial Advisors Inc. lifted its position in Kenvue by 5.8% during the 3rd quarter. Voya Financial Advisors Inc. now owns 21,784 shares of the company’s stock valued at $507,000 after purchasing an additional 1,196 shares during the period. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

KVUE opened at $22.33 on Friday. The company has a market capitalization of $42.68 billion, a price-to-earnings ratio of 42.14, a P/E/G ratio of 2.62 and a beta of 1.25. The business’s 50-day moving average price is $22.59 and its two-hundred day moving average price is $22.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $24.46.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Equities analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 annualized dividend and a dividend yield of 3.67%. Kenvue’s dividend payout ratio is currently 154.72%.

Analysts Set New Price Targets

A number of research firms recently weighed in on KVUE. Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and dropped their price target for the stock from $25.00 to $24.00 in a research note on Thursday, December 12th. Citigroup dropped their target price on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Barclays raised their price target on Kenvue from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 27th. Canaccord Genuity Group upped their price objective on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Finally, Piper Sandler raised their target price on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $24.00.

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.