Viking Fund Management LLC Sells 105,000 Shares of Kenvue Inc. $KVUE

Viking Fund Management LLC trimmed its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 17.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 500,000 shares of the company’s stock after selling 105,000 shares during the quarter. Viking Fund Management LLC’s holdings in Kenvue were worth $8,625,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaCore Capital LLC raised its position in Kenvue by 9.9% during the second quarter. AlphaCore Capital LLC now owns 5,287 shares of the company’s stock valued at $111,000 after purchasing an additional 476 shares during the period. J.W. Cole Advisors Inc. boosted its holdings in shares of Kenvue by 3.8% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 15,488 shares of the company’s stock worth $324,000 after purchasing an additional 574 shares during the period. Versor Investments LP increased its position in shares of Kenvue by 2.8% during the 3rd quarter. Versor Investments LP now owns 26,016 shares of the company’s stock valued at $422,000 after purchasing an additional 716 shares during the last quarter. Patton Fund Management Inc. increased its position in shares of Kenvue by 8.1% during the 3rd quarter. Patton Fund Management Inc. now owns 10,353 shares of the company’s stock valued at $168,000 after purchasing an additional 780 shares during the last quarter. Finally, Titleist Asset Management LLC raised its holdings in Kenvue by 1.6% during the 3rd quarter. Titleist Asset Management LLC now owns 50,957 shares of the company’s stock valued at $827,000 after buying an additional 796 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

KVUE stock opened at $17.53 on Wednesday. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $25.17. The firm has a market cap of $33.59 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 4.00 and a beta of 0.51. The business’s fifty day simple moving average is $17.99 and its two-hundred day simple moving average is $17.14. The company has a quick ratio of 0.68, a current ratio of 0.96 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last issued its earnings results on Tuesday, February 17th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.68 billion. Kenvue had a net margin of 9.72% and a return on equity of 19.72%. The business’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.26 earnings per share. Analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were paid a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date was Wednesday, February 11th. Kenvue’s dividend payout ratio is currently 107.79%.

Analyst Ratings Changes

Several research firms have commented on KVUE. Argus raised shares of Kenvue to a “hold” rating in a research note on Friday, March 6th. UBS Group increased their target price on shares of Kenvue from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Zacks Research raised shares of Kenvue from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. Jefferies Financial Group downgraded shares of Kenvue from a “buy” rating to a “hold” rating and cut their price target for the company from $23.00 to $18.00 in a report on Friday, January 30th. Finally, Canaccord Genuity Group increased their price objective on shares of Kenvue from $17.00 to $18.00 and gave the stock a “hold” rating in a research report on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, Kenvue currently has a consensus rating of “Hold” and an average price target of $19.58.

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.