Meritage Portfolio Management Lowers Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Meritage Portfolio Management reduced its position in shares of Kenvue Inc. (NYSE:KVUE) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 115,723 shares of the company’s stock after selling 3,310 shares during the period. Meritage Portfolio Management’s holdings in Kenvue were worth $2,492,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Beaumont Financial Advisors LLC raised its stake in Kenvue by 3.0% in the fourth quarter. Beaumont Financial Advisors LLC now owns 17,532 shares of the company’s stock valued at $377,000 after buying an additional 509 shares in the last quarter. Pinnacle Bancorp Inc. increased its position in shares of Kenvue by 51.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock worth $33,000 after purchasing an additional 526 shares in the last quarter. Dfpg Investments LLC increased its position in shares of Kenvue by 2.3% during the fourth quarter. Dfpg Investments LLC now owns 26,659 shares of the company’s stock worth $567,000 after purchasing an additional 589 shares in the last quarter. Mutual Advisors LLC increased its position in shares of Kenvue by 6.1% during the fourth quarter. Mutual Advisors LLC now owns 10,606 shares of the company’s stock worth $228,000 after purchasing an additional 612 shares in the last quarter. Finally, Baron Wealth Management LLC increased its position in Kenvue by 7.5% in the 4th quarter. Baron Wealth Management LLC now owns 12,915 shares of the company’s stock valued at $278,000 after acquiring an additional 899 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Trading Down 0.6 %

Shares of NYSE:KVUE traded down $0.11 during trading on Thursday, reaching $19.02. 14,246,200 shares of the company traded hands, compared to its average volume of 16,707,334. The firm has a fifty day simple moving average of $19.84 and a 200 day simple moving average of $20.15. Kenvue Inc. has a 1-year low of $17.82 and a 1-year high of $27.80. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, February 8th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.03. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.78 billion. The business’s revenue was down 2.7% on a year-over-year basis. Analysts predict that Kenvue Inc. will post 1.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

KVUE has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price target on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. The Goldman Sachs Group began coverage on Kenvue in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price objective on the stock. William Blair began coverage on Kenvue in a report on Wednesday, April 3rd. They issued a “market perform” rating on the stock. Sanford C. Bernstein began coverage on Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective on the stock. Finally, Royal Bank of Canada lowered their price objective on Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Kenvue presently has a consensus rating of “Hold” and an average price target of $24.85.

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.