Kenvue Inc. $KVUE Stock Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lowered its position in shares of Kenvue Inc. (NYSE:KVUE) by 19.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 273,722 shares of the company’s stock after selling 65,441 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Kenvue were worth $4,834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Johnson Financial Group Inc. acquired a new position in Kenvue in the second quarter valued at approximately $26,000. CoreCap Advisors LLC increased its stake in Kenvue by 64.9% during the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock worth $29,000 after acquiring an additional 591 shares during the last quarter. GK Wealth Management LLC purchased a new stake in Kenvue in the third quarter valued at $27,000. Bell Investment Advisors Inc purchased a new stake in Kenvue in the second quarter valued at $35,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in Kenvue in the second quarter valued at $38,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 4.4%

NYSE:KVUE opened at $19.89 on Friday. Kenvue Inc. has a 52 week low of $14.02 and a 52 week high of $20.13. The stock’s fifty day moving average is $18.34 and its two-hundred day moving average is $18.26. The stock has a market capitalization of $38.19 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 1.74 and a beta of 0.48. The company has a quick ratio of 0.71, a current ratio of 1.01 and a debt-to-equity ratio of 0.67.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.31 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.01). The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.97 billion. Kenvue had a net margin of 10.76% and a return on equity of 21.22%. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.29 earnings per share. Research analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Monday, September 21st were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Monday, September 21st. Kenvue’s dividend payout ratio (DPR) is 96.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wall Street Zen cut Kenvue from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kenvue in a research report on Friday, September 11th. UBS Group lowered their target price on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Tuesday, August 11th. Barclays lifted their price target on shares of Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 21st. Finally, Zacks Research downgraded shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 7th. Ten research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $18.43.

Kenvue Profile

Kenvue Inc is a consumer health company that develops, markets and sells products designed to support everyday health and personal care. Its portfolio spans over-the-counter medicines, skin health and beauty, and essential health products, serving consumers through retail, e-commerce and other distribution channels.

The company’s brands include Tylenol, Motrin, Zyrtec and Benadryl in self-care; Neutrogena, Aveeno and Clean & Clear in skin health and beauty; and Listerine, Johnson’s and OGX in oral care, baby care and hair care.