Manning & Napier Advisors LLC Sells 126,714 Shares of Kenvue Inc. (NYSE:KVUE)

Manning & Napier Advisors LLC cut its holdings in Kenvue Inc. (NYSE:KVUE) by 24.6% during the 4th quarter, Holdings Channel reports. The firm owned 389,426 shares of the company’s stock after selling 126,714 shares during the period. Manning & Napier Advisors LLC’s holdings in Kenvue were worth $8,314,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Grove Bank & Trust lifted its position in shares of Kenvue by 438.4% in the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after purchasing an additional 947 shares during the period. Geneos Wealth Management Inc. bought a new position in Kenvue in the fourth quarter worth about $29,000. Riverview Trust Co purchased a new stake in Kenvue in the third quarter worth about $30,000. Fortitude Family Office LLC boosted its position in Kenvue by 106.6% during the 4th quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after acquiring an additional 777 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Kenvue during the 3rd quarter worth approximately $35,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KVUE. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and lowered their target price for the company from $25.00 to $24.00 in a research note on Thursday, December 12th. UBS Group dropped their target price on shares of Kenvue from $24.00 to $23.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. JPMorgan Chase & Co. increased their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Citigroup dropped their price objective on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Piper Sandler raised shares of Kenvue from a “neutral” rating to an “overweight” rating and raised their target price for the company from $21.00 to $26.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $23.08.

Kenvue Stock Performance

KVUE stock opened at $21.35 on Thursday. The stock’s 50 day simple moving average is $22.05 and its 200 day simple moving average is $21.85. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46. The stock has a market capitalization of $40.92 billion, a PE ratio of 38.81, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was down .4% on a year-over-year basis. As a group, research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.84%. Kenvue’s dividend payout ratio is presently 149.09%.

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.