Transcend Capital Advisors LLC Sells 33,962 Shares of Kenvue Inc. $KVUE

Transcend Capital Advisors LLC reduced its stake in Kenvue Inc. (NYSE:KVUE) by 66.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,793 shares of the company’s stock after selling 33,962 shares during the period. Transcend Capital Advisors LLC’s holdings in Kenvue were worth $273,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in KVUE. Norges Bank bought a new position in shares of Kenvue during the second quarter valued at approximately $537,418,000. Independent Franchise Partners LLP raised its holdings in Kenvue by 233.4% in the 2nd quarter. Independent Franchise Partners LLP now owns 31,265,574 shares of the company’s stock worth $654,388,000 after acquiring an additional 21,886,537 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Kenvue by 38.6% in the second quarter. American Century Companies Inc. now owns 30,265,020 shares of the company’s stock worth $633,447,000 after purchasing an additional 8,436,166 shares during the last quarter. Amundi raised its position in Kenvue by 82.5% in the 2nd quarter. Amundi now owns 14,509,890 shares of the company’s stock worth $305,446,000 after buying an additional 6,559,261 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Kenvue by 1.8% during the second quarter. Vanguard Group Inc. now owns 233,246,267 shares of the company’s stock valued at $4,881,844,000 after purchasing an additional 4,101,880 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on KVUE. JPMorgan Chase & Co. cut their price objective on Kenvue from $24.00 to $21.00 and set an “overweight” rating for the company in a report on Friday, October 10th. UBS Group cut their price target on Kenvue from $23.00 to $17.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Canaccord Genuity Group reissued a “hold” rating and set a $15.00 target price (down previously from $26.00) on shares of Kenvue in a research note on Wednesday, October 29th. Zacks Research raised shares of Kenvue from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 26th. Finally, Johnson Rice reaffirmed a “neutral” rating on shares of Kenvue in a research note on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, Kenvue has a consensus rating of “Hold” and a consensus target price of $19.90.

Kenvue Stock Up 2.3%

NYSE KVUE opened at $17.99 on Thursday. Kenvue Inc. has a 52 week low of $14.02 and a 52 week high of $25.17. The firm has a market capitalization of $34.47 billion, a price-to-earnings ratio of 23.99 and a beta of 0.59. The company has a quick ratio of 0.69, a current ratio of 0.98 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average of $17.20 and a two-hundred day moving average of $17.93.

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

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th will be issued a $0.2075 dividend. This represents a $0.83 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Wednesday, February 11th. Kenvue’s dividend payout ratio is currently 110.67%.

Insiders Place Their Bets

In other Kenvue news, Director Jeffrey C. Smith purchased 3,200,000 shares of the stock in a transaction dated Friday, December 12th. The stock was purchased at an average price of $17.37 per share, with a total value of $55,584,000.00. Following the transaction, the director owned 27,307,632 shares of the company’s stock, valued at approximately $474,333,567.84. This trade 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 can be accessed through this link. 1.68% of the stock is currently owned by company insiders.

About Kenvue

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.