Kenvue Inc. $KVUE Shares Sold by Richard Bernstein Advisors LLC

Richard Bernstein Advisors LLC lowered its stake in shares of Kenvue Inc. (NYSE:KVUE) by 55.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 109,369 shares of the company’s stock after selling 134,102 shares during the quarter. Richard Bernstein Advisors LLC’s holdings in Kenvue were worth $1,775,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position 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 buying an additional 4,101,880 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of 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 buying an additional 604,953 shares during the last quarter. American Century Companies Inc. lifted its holdings in Kenvue by 22.4% in the third quarter. American Century Companies Inc. now owns 37,046,660 shares of the company’s stock valued at $601,267,000 after acquiring an additional 6,781,640 shares during the period. Independent Franchise Partners LLP grew 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 period. Finally, Norges Bank acquired a new position in shares of Kenvue in the 2nd quarter valued at $537,418,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group upped their price objective on shares of Kenvue from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Weiss Ratings restated a “hold (c-)” rating on shares of Kenvue in a research report on Friday, January 9th. Zacks Research upgraded Kenvue from a “strong sell” rating to a “hold” rating in a research report on Wednesday, November 26th. Canaccord Genuity Group lifted their price target on shares of Kenvue from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday, February 18th. Finally, Citigroup upped their price objective on shares of Kenvue from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $19.58.

Kenvue Trading Down 1.4%

Shares of Kenvue stock opened at $18.14 on Tuesday. The stock’s 50 day simple moving average is $17.87 and its 200-day simple moving average is $17.37. The stock has a market cap of $34.76 billion, a P/E ratio of 23.55, a P/E/G ratio of 4.21 and a beta of 0.51. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.96 and a quick ratio of 0.68. Kenvue Inc. has a 1-year low of $14.02 and a 1-year high of $25.17.

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

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were issued a $0.2075 dividend. This represents a $0.83 annualized dividend and a yield of 4.6%. The ex-dividend date was Wednesday, February 11th. Kenvue’s dividend payout ratio (DPR) is 107.79%.

Insider Activity at Kenvue

In other news, Director Jeffrey C. Smith acquired 3,200,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were purchased at an average price of $17.37 per share, for a total transaction of $55,584,000.00. Following the acquisition, the director owned 27,307,632 shares of the company’s stock, valued at $474,333,567.84. This represents a 13.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is currently owned by corporate insiders.

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.