Fifth Third Wealth Advisors LLC Reduces Holdings in Kenvue Inc. (NYSE:KVUE)

Fifth Third Wealth Advisors LLC lowered its position in shares of Kenvue Inc. (NYSE:KVUE) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,321 shares of the company’s stock after selling 831 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Kenvue were worth $925,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Riverview Trust Co acquired a new stake in Kenvue during the 3rd quarter worth $30,000. Fortitude Family Office LLC raised its holdings in shares of Kenvue by 106.6% in the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after buying an additional 777 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Kenvue during the third quarter worth about $35,000. Versant Capital Management Inc grew its holdings in shares of Kenvue by 300.8% during the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after buying an additional 1,441 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators increased its position in Kenvue by 49.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after acquiring an additional 651 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KVUE has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft downgraded 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. Barclays upgraded shares of Kenvue to a “hold” rating in a research report on Thursday, December 12th. Royal Bank of Canada upgraded shares of Kenvue from a “hold” rating to a “moderate buy” rating in a research report on Monday, December 9th. Bank of America lifted their target price on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Piper Sandler raised shares of Kenvue from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $21.00 to $26.00 in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and an average price target of $23.18.

Kenvue Stock Down 1.0 %

KVUE stock opened at $20.83 on Thursday. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The company has a market cap of $39.94 billion, a P/E ratio of 37.87, a P/E/G ratio of 2.02 and a beta of 1.46. The company’s 50-day moving average price is $22.50 and its 200 day moving average price is $21.64.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The business had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. During the same quarter in the previous year, the company earned $0.31 EPS. The company’s quarterly revenue was down .4% on a year-over-year basis. On average, research analysts expect that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

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.