Cohen Klingenstein LLC Sells 1,485 Shares of Kenvue Inc. (NYSE:KVUE)

Cohen Klingenstein LLC trimmed its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,964 shares of the company’s stock after selling 1,485 shares during the quarter. Cohen Klingenstein LLC’s holdings in Kenvue were worth $618,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. FMR LLC grew its stake in Kenvue by 2.3% in the third quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after purchasing an additional 3,075,019 shares during the last quarter. State Street Corp raised its holdings in shares of Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after buying an additional 18,283,473 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Kenvue by 8.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock worth $2,011,832,000 after acquiring an additional 7,115,374 shares during the period. Geode Capital Management LLC increased its holdings in shares of Kenvue by 0.9% in the third quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock valued at $1,029,810,000 after purchasing an additional 399,846 shares during the period. Finally, Harris Associates L P raised its stake in shares of Kenvue by 7.5% in the third quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock worth $727,658,000 after purchasing an additional 2,186,114 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Barclays decreased their price objective on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday. Bank of America upped their price target on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. UBS Group dropped their price objective on Kenvue from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday. Jefferies Financial Group started coverage on Kenvue in a research note on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price for the company. Finally, Piper Sandler raised shares of Kenvue from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $21.00 to $26.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $23.08.

Kenvue Trading Down 0.4 %

NYSE KVUE opened at $21.11 on Friday. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The firm has a 50 day moving average of $22.42 and a two-hundred day moving average of $21.66. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $40.46 billion, a PE ratio of 38.37, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.31 EPS. As a group, research analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.89%. The ex-dividend date is Wednesday, February 12th. Kenvue’s dividend payout ratio is presently 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.