Kenvue Inc. $KVUE Stock Holdings Reduced by Federated Hermes Inc.

Federated Hermes Inc. cut its position in shares of Kenvue Inc. (NYSE:KVUE) by 93.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 598,482 shares of the company’s stock after selling 8,621,786 shares during the period. Federated Hermes Inc.’s holdings in Kenvue were worth $9,713,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in KVUE. Vanguard Group Inc. increased its holdings in Kenvue by 1.8% in the second quarter. Vanguard Group Inc. now owns 233,246,267 shares of the company’s stock worth $4,881,844,000 after buying an additional 4,101,880 shares during the last quarter. Geode Capital Management LLC grew its position in Kenvue by 1.2% in the second quarter. Geode Capital Management LLC now owns 49,001,887 shares of the company’s stock worth $1,021,267,000 after acquiring an additional 604,953 shares in the last quarter. Independent Franchise Partners LLP increased its stake in shares of Kenvue by 233.4% during the 2nd quarter. Independent Franchise Partners LLP now owns 31,265,574 shares of the company’s stock worth $654,388,000 after purchasing an additional 21,886,537 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Kenvue by 38.6% during the 2nd quarter. American Century Companies Inc. now owns 30,265,020 shares of the company’s stock valued at $633,447,000 after purchasing an additional 8,436,166 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Kenvue in the 2nd quarter valued at $537,418,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Kenvue

In other news, Director Jeffrey C. Smith bought 3,200,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were acquired at an average cost of $17.37 per share, with a total value of $55,584,000.00. Following the completion of the transaction, the director directly owned 27,307,632 shares in the company, valued at $474,333,567.84. This represents a 13.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on KVUE shares. JPMorgan Chase & Co. lowered their target price on shares of Kenvue from $24.00 to $21.00 and set an “overweight” rating on the stock in a research report on Friday, October 10th. Zacks Research upgraded Kenvue from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. Evercore ISI set a $18.00 price objective on Kenvue in a research note on Tuesday, October 28th. Weiss Ratings restated a “hold (c-)” rating on shares of Kenvue in a report on Friday, January 9th. Finally, Canaccord Genuity Group reiterated a “hold” rating and set a $15.00 price target (down previously from $26.00) on shares of Kenvue in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.90.

Kenvue Trading Up 1.2%

Shares of Kenvue stock opened at $17.41 on Monday. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $25.17. The company’s fifty day simple moving average is $17.16 and its 200-day simple moving average is $17.99. The company has a market cap of $33.36 billion, a price-to-earnings ratio of 23.21 and a beta of 0.60. The company has a current ratio of 0.98, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a net margin of 9.55% and a return on equity of 20.02%. The firm had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the prior year, the firm earned $0.28 EPS. The business’s revenue was down 3.5% on a year-over-year basis. As a group, sell-side analysts expect that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be paid a $0.2075 dividend. This represents a $0.83 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Wednesday, February 11th. Kenvue’s dividend payout ratio (DPR) is presently 110.67%.

Kenvue Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over?the?counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.