Douglas Lane & Associates LLC Lowers Stock Position in Kenvue Inc. (NYSE:KVUE)

Douglas Lane & Associates LLC decreased its holdings in Kenvue Inc. (NYSE:KVUE) by 14.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 399,122 shares of the company’s stock after selling 65,771 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Kenvue were worth $7,256,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of KVUE. Vanguard Group Inc. raised its holdings in shares of Kenvue by 12.0% in the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after buying an additional 17,908,497 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Kenvue by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock worth $2,887,773,000 after acquiring an additional 25,238,112 shares during the period. Wellington Management Group LLP grew its stake in shares of Kenvue by 6.7% in the 4th quarter. Wellington Management Group LLP now owns 76,501,956 shares of the company’s stock valued at $1,647,087,000 after purchasing an additional 4,815,126 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Kenvue by 11.1% during the first quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock worth $1,466,147,000 after purchasing an additional 6,825,611 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Kenvue by 9.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 66,665,454 shares of the company’s stock valued at $1,435,307,000 after buying an additional 5,574,265 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Trading Up 14.6 %

Kenvue stock traded up $2.66 during midday trading on Tuesday, reaching $20.85. The stock had a trading volume of 44,391,949 shares, compared to its average volume of 19,245,387. The stock’s 50-day simple moving average is $18.47 and its 200 day simple moving average is $19.41. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.10. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.99. The stock has a market capitalization of $39.92 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 2.07 and a beta of 1.38.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.79 billion. The company’s revenue was down 24.9% compared to the same quarter last year. Analysts expect that Kenvue Inc. will post 1.13 EPS for the current year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be issued a $0.205 dividend. This is an increase from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a yield of 3.93%. The ex-dividend date of this dividend is Wednesday, August 14th. Kenvue’s dividend payout ratio is currently 105.13%.

Wall Street Analysts Forecast Growth

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

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.