Kenvue Inc. (NYSE:KVUE) Shares Sold by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management lowered its stake in shares of Kenvue Inc. (NYSE:KVUE) by 6.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,788 shares of the company’s stock after selling 845 shares during the quarter. Keudell Morrison Wealth Management’s holdings in Kenvue were worth $273,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Kenvue in the first quarter worth $1,050,000. Mediolanum International Funds Ltd purchased a new position in Kenvue in the 1st quarter worth $680,000. Manchester Capital Management LLC raised its stake in Kenvue by 80.8% in the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after acquiring an additional 530 shares during the last quarter. Empirical Finance LLC lifted its position in Kenvue by 11.8% during the 1st quarter. Empirical Finance LLC now owns 24,172 shares of the company’s stock worth $519,000 after acquiring an additional 2,545 shares during the period. Finally, Envestnet Portfolio Solutions Inc. grew its stake in Kenvue by 22.7% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 183,324 shares of the company’s stock valued at $3,934,000 after purchasing an additional 33,929 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KVUE. Deutsche Bank Aktiengesellschaft raised their price objective on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Royal Bank of Canada lowered shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a research note on Tuesday, September 24th. 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. Finally, Piper Sandler upped their price target on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Kenvue presently has a consensus rating of “Hold” and a consensus target price of $22.64.

Kenvue Price Performance

KVUE stock traded up $0.50 during mid-day trading on Thursday, reaching $23.00. 4,232,640 shares of the company’s stock were exchanged, compared to its average volume of 18,035,377. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $23.57. The stock’s 50 day moving average is $22.59 and its 200 day moving average is $20.49. The company has a market cap of $44.05 billion, a price-to-earnings ratio of 38.79, a price-to-earnings-growth ratio of 3.01 and a beta of 1.36.

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

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 annualized dividend and a dividend yield of 3.57%. Kenvue’s dividend payout ratio (DPR) is 141.38%.

Kenvue 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.