Concurrent Investment Advisors LLC Trims Holdings in Kenvue Inc. (NYSE:KVUE)

Concurrent Investment Advisors LLC cut its holdings in Kenvue Inc. (NYSE:KVUE) by 69.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,608 shares of the company’s stock after selling 36,909 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Kenvue were worth $355,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its position in Kenvue by 16.8% during the 3rd 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 last quarter. Massachusetts Financial Services Co. MA grew its position in Kenvue by 8.9% during the 3rd 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 last quarter. Holocene Advisors LP grew its position in Kenvue by 75.5% during the 3rd quarter. Holocene Advisors LP now owns 13,886,454 shares of the company’s stock valued at $321,194,000 after purchasing an additional 5,975,392 shares during the last quarter. M&G PLC grew its position in Kenvue by 538.0% during the 3rd quarter. M&G PLC now owns 4,341,172 shares of the company’s stock valued at $99,847,000 after purchasing an additional 3,660,730 shares during the last quarter. Finally, FMR LLC grew its position in Kenvue by 2.3% during the 3rd 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 last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $23.33 on Tuesday. The firm’s 50 day moving average price is $21.33 and its 200-day moving average price is $22.21. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $44.72 billion, a PE ratio of 44.01, a price-to-earnings-growth ratio of 2.62 and a beta of 1.45.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Equities research analysts expect that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The firm also recently disclosed 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. This represents a $0.82 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Wednesday, February 12th. Kenvue’s dividend payout ratio (DPR) is presently 154.72%.

Analyst Ratings Changes

Several brokerages recently commented on KVUE. Citigroup cut their price objective on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Piper Sandler increased their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday. UBS Group cut their price objective on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Barclays lowered their target price on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $24.00 target price on shares of Kenvue in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Kenvue 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.