iA Global Asset Management Inc. Trims Stock Position in Kenvue Inc. (NYSE:KVUE)

iA Global Asset Management Inc. cut its stake in Kenvue Inc. (NYSE:KVUE) by 8.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,159 shares of the company’s stock after selling 6,379 shares during the period. iA Global Asset Management Inc.’s holdings in Kenvue were worth $1,484,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Manchester Capital Management LLC grew its position in Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after buying an additional 530 shares during the period. Pacific Capital Wealth Advisors Inc. acquired a new position in Kenvue during the fourth quarter worth about $28,000. Mather Group LLC. acquired a new position in Kenvue during the first quarter worth about $28,000. Oakworth Capital Inc. acquired a new position in Kenvue during the first quarter worth about $31,000. Finally, Pinnacle Bancorp Inc. grew its position in 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 buying an additional 526 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KVUE has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Kenvue from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. HSBC upped their price objective on shares of Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Citigroup reduced their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Sanford C. Bernstein initiated coverage on shares of Kenvue in a research note on Thursday, April 11th. They set an “underperform” rating and a $18.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Kenvue from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Kenvue presently has a consensus rating of “Hold” and an average price target of $22.45.

Kenvue Trading Up 0.1 %

Shares of Kenvue stock traded up $0.01 during trading hours on Friday, hitting $18.64. The company’s stock had a trading volume of 9,464,852 shares, compared to its average volume of 19,003,236. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.43. The business has a fifty day moving average of $18.50 and a 200 day moving average of $19.47. The company has a market capitalization of $35.69 billion, a PE ratio of 23.88, a P/E/G ratio of 2.05 and a beta of 1.38. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.79 billion. Kenvue’s revenue was down 24.9% on a year-over-year basis. As a group, equities analysts forecast that Kenvue Inc. will post 1.13 EPS for the current year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be given a $0.205 dividend. This is an increase from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date is Wednesday, August 14th. Kenvue’s dividend payout ratio (DPR) is presently 102.56%.

Kenvue 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.