Cullen Capital Management LLC Has $39.13 Million Stock Holdings in Kenvue Inc. $KVUE

Cullen Capital Management LLC reduced its holdings in Kenvue Inc. (NYSE:KVUE) by 3.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,410,641 shares of the company’s stock after selling 74,299 shares during the period. Cullen Capital Management LLC owned about 0.13% of Kenvue worth $39,125,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Kenvue during the second quarter worth approximately $537,418,000. Independent Franchise Partners LLP grew its holdings 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 valued at $654,388,000 after acquiring an additional 21,886,537 shares in the last quarter. American Century Companies Inc. increased 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 acquiring an additional 8,436,166 shares during the last quarter. Amundi boosted its position in Kenvue by 82.5% during the second quarter. Amundi now owns 14,509,890 shares of the company’s stock valued at $305,446,000 after purchasing an additional 6,559,261 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Kenvue by 1.8% in 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 in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KVUE shares. Deutsche Bank Aktiengesellschaft set a $18.00 price target on Kenvue in a research note on Friday, October 24th. UBS Group decreased their target price on shares of Kenvue from $23.00 to $17.00 and set a “neutral” rating for the company in a research report on Wednesday, October 8th. Bank of America cut their price target on shares of Kenvue from $25.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, October 8th. Citigroup decreased their price objective on shares of Kenvue from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Finally, Barclays boosted their price target on Kenvue from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $19.90.

Insiders Place Their Bets

In other news, Director Jeffrey C. Smith purchased 3,200,000 shares of the stock in a transaction that occurred on Friday, December 12th. The shares were purchased at an average cost of $17.37 per share, for a total transaction of $55,584,000.00. Following the completion of the purchase, the director directly owned 27,307,632 shares of the company’s stock, valued at approximately $474,333,567.84. The trade was a 13.27% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.68% of the stock is currently owned by company insiders.

Kenvue Stock Up 2.3%

KVUE opened at $17.99 on Thursday. The business has a 50 day moving average of $17.20 and a 200-day moving average of $17.93. The stock 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 current ratio of 0.98, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 1-year low of $14.02 and a 1-year high of $25.17.

Kenvue (NYSE:KVUE) last released its earnings results on Monday, November 3rd. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $3.76 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Kenvue had a net margin of 9.55% and a return on equity of 20.02%. The business’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.28 EPS. As a group, sell-side analysts anticipate 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 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 4.6%. 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.