iA Global Asset Management Inc. Sells 4,544 Shares of Kenvue Inc. (NYSE:KVUE)

iA Global Asset Management Inc. cut its holdings in Kenvue Inc. (NYSE:KVUE) by 6.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 64,615 shares of the company’s stock after selling 4,544 shares during the period. iA Global Asset Management Inc.’s holdings in Kenvue were worth $1,175,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in KVUE. Manchester Capital Management LLC grew its holdings in Kenvue by 80.8% during the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after buying an additional 530 shares in the last quarter. Tradition Wealth Management LLC grew its stake in Kenvue by 2.8% during the fourth quarter. Tradition Wealth Management LLC now owns 21,278 shares of the company’s stock valued at $458,000 after acquiring an additional 575 shares in the last quarter. MV Capital Management Inc. increased its holdings in Kenvue by 71.2% during the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock worth $33,000 after acquiring an additional 642 shares during the period. Royal Capital Wealth Management LLC lifted its stake in Kenvue by 2.3% in the 4th quarter. Royal Capital Wealth Management LLC now owns 29,746 shares of the company’s stock worth $640,000 after purchasing an additional 673 shares in the last quarter. Finally, Cove Private Wealth LLC boosted its holdings in Kenvue by 1.6% in the 2nd quarter. Cove Private Wealth LLC now owns 44,539 shares of the company’s stock valued at $810,000 after purchasing an additional 700 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Trading Up 0.9 %

KVUE stock opened at $21.94 on Friday. The company has a market capitalization of $42.01 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 2.07 and a beta of 1.38. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.99. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.33. The company’s 50 day moving average price is $19.54 and its two-hundred day moving average price is $19.56.

Kenvue (NYSE:KVUE) last issued its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same quarter last year, the company earned $0.32 EPS. The firm’s revenue was down .3% compared to the same quarter last year. As a group, analysts predict that Kenvue Inc. will post 1.13 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This is a boost from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a yield of 3.74%. Kenvue’s dividend payout ratio is currently 105.13%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. HSBC raised their price target on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Citigroup cut their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. JPMorgan Chase & Co. upped their price objective on shares of Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $24.00 target price on shares of Kenvue in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kenvue has a consensus rating of “Hold” and a consensus target price of $22.64.

About Kenvue

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.