Horizon Investments LLC Trims Stock Position in Kenvue Inc. (NYSE:KVUE)

Horizon Investments LLC lessened its position in shares of Kenvue Inc. (NYSE:KVUE) by 47.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,917 shares of the company’s stock after selling 24,641 shares during the quarter. Horizon Investments LLC’s holdings in Kenvue were worth $575,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its position in Kenvue by 2.3% in the third quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after purchasing an additional 3,075,019 shares during the period. State Street Corp raised its position in Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock valued at $2,942,458,000 after purchasing an additional 18,283,473 shares during the period. Massachusetts Financial Services Co. MA raised its position in Kenvue by 8.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after purchasing an additional 7,115,374 shares during the period. Geode Capital Management LLC raised its position in Kenvue by 0.9% in the third quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock valued at $1,029,810,000 after purchasing an additional 399,846 shares during the period. Finally, Harris Associates L P raised its position in Kenvue by 7.5% in the third quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock valued at $727,658,000 after purchasing an additional 2,186,114 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of KVUE stock opened at $23.41 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The firm has a fifty day moving average price of $22.03 and a 200 day moving average price of $22.42. The company has a market cap of $44.74 billion, a P/E ratio of 44.17, a PEG ratio of 2.62 and a beta of 1.25. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $24.46.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Sell-side analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 annualized dividend and a yield of 3.50%. Kenvue’s dividend payout ratio is presently 154.72%.

Analysts Set New Price Targets

A number of analysts have issued reports on KVUE shares. UBS Group cut their target price on Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Barclays dropped their price target on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Citigroup dropped their price target on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Piper Sandler boosted their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and dropped their price target for the stock from $25.00 to $24.00 in a research note on Thursday, December 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Kenvue presently has an average rating of “Hold” and a consensus price target of $23.75.

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.