Independent Franchise Partners LLP Sells 462,883 Shares of Kenvue Inc. $KVUE

Independent Franchise Partners LLP lowered its holdings in Kenvue Inc. (NYSE:KVUE) by 1.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 30,802,691 shares of the company’s stock after selling 462,883 shares during the quarter. Kenvue accounts for about 3.3% of Independent Franchise Partners LLP’s holdings, making the stock its 17th biggest position. Independent Franchise Partners LLP’s holdings in Kenvue were worth $499,928,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. AlphaCore Capital LLC raised its holdings in Kenvue by 9.9% during the second quarter. AlphaCore Capital LLC now owns 5,287 shares of the company’s stock worth $111,000 after buying an additional 476 shares during the last quarter. Empirical Finance LLC grew its holdings in shares of Kenvue by 1.8% during the second quarter. Empirical Finance LLC now owns 28,309 shares of the company’s stock valued at $593,000 after buying an additional 491 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in shares of Kenvue by 3.8% during the second quarter. J.W. Cole Advisors Inc. now owns 15,488 shares of the company’s stock valued at $324,000 after buying an additional 574 shares during the last quarter. Versor Investments LP increased its position in shares of Kenvue by 2.8% during the third quarter. Versor Investments LP now owns 26,016 shares of the company’s stock worth $422,000 after acquiring an additional 716 shares in the last quarter. Finally, Patton Fund Management Inc. increased its position in shares of Kenvue by 8.1% during the third quarter. Patton Fund Management Inc. now owns 10,353 shares of the company’s stock worth $168,000 after acquiring an additional 780 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on KVUE. UBS Group raised their price target on shares of Kenvue from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Argus raised Kenvue to a “hold” rating in a report on Friday, March 6th. Citigroup increased their price objective on Kenvue from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 18th. Canaccord Genuity Group raised their target price on Kenvue from $17.00 to $18.00 and gave the company a “hold” rating in a report on Wednesday, February 18th. Finally, Jefferies Financial Group cut Kenvue from a “buy” rating to a “hold” rating and cut their target price for the company from $23.00 to $18.00 in a research report on Friday, January 30th. Three investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $19.58.

Kenvue Stock Up 0.7%

KVUE opened at $17.51 on Friday. Kenvue Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $25.17. The firm has a market capitalization of $33.55 billion, a P/E ratio of 22.73, a PEG ratio of 3.95 and a beta of 0.51. The company’s 50-day moving average is $17.89 and its 200 day moving average is $17.32. 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 (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The business had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.68 billion. Kenvue had a net margin of 9.72% and a return on equity of 19.72%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 EPS. Research analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

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

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.