Keudell Morrison Wealth Management Sells 1,081 Shares of Kenvue Inc. (NYSE:KVUE)

Keudell Morrison Wealth Management lowered its stake in Kenvue Inc. (NYSE:KVUE) by 9.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,707 shares of the company’s stock after selling 1,081 shares during the period. Keudell Morrison Wealth Management’s holdings in Kenvue were worth $229,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of KVUE. State Street Corp increased its position in shares of Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after purchasing an additional 18,283,473 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Kenvue by 8.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock worth $2,011,832,000 after purchasing an additional 7,115,374 shares during the period. Holocene Advisors LP increased its position in shares of Kenvue by 75.5% in the third quarter. Holocene Advisors LP now owns 13,886,454 shares of the company’s stock worth $321,194,000 after purchasing an additional 5,975,392 shares during the period. M&G PLC increased its position in shares of Kenvue by 538.0% in the third quarter. M&G PLC now owns 4,341,172 shares of the company’s stock worth $99,847,000 after purchasing an additional 3,660,730 shares during the period. Finally, FMR LLC increased its position in shares of Kenvue by 2.3% in the third quarter. FMR LLC now owns 137,915,493 shares of the company’s stock worth $3,189,985,000 after purchasing an additional 3,075,019 shares during the period. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of KVUE stock opened at $21.29 on Friday. The business’s 50-day moving average price is $21.90 and its 200-day moving average price is $21.87. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $24.46. The firm has a market capitalization of $40.82 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 2.05 and a beta of 1.46. 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 (NYSE:KVUE) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the company earned $0.31 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. Equities research analysts forecast that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a dividend of $0.205 per share. 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 3.85%. Kenvue’s dividend payout ratio (DPR) is 149.09%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. UBS Group reduced their price objective on Kenvue from $24.00 to $23.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Bank of America raised their price objective on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Piper Sandler raised Kenvue from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $21.00 to $26.00 in a research note on Monday, January 6th. JPMorgan Chase & Co. raised their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft lowered Kenvue from a “buy” rating to a “hold” rating and reduced their price objective for the company from $25.00 to $24.00 in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $23.08.

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.