Alpha DNA Investment Management LLC Sells 57,595 Shares of Kenvue Inc. (NYSE:KVUE)

Alpha DNA Investment Management LLC trimmed its position in Kenvue Inc. (NYSE:KVUE) by 50.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,972 shares of the company’s stock after selling 57,595 shares during the period. Alpha DNA Investment Management LLC’s holdings in Kenvue were worth $1,295,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its holdings in shares of Kenvue by 8.9% during 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 acquiring an additional 7,115,374 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Kenvue by 21.0% in the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock worth $789,813,000 after buying an additional 7,546,362 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Kenvue by 20.7% during the second quarter. American Century Companies Inc. now owns 27,382,644 shares of the company’s stock worth $497,816,000 after buying an additional 4,700,697 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Kenvue by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 24,411,207 shares of the company’s stock valued at $564,689,000 after buying an additional 547,874 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Kenvue by 110.9% in the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock valued at $372,880,000 after acquiring an additional 10,783,258 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Stock Performance

NYSE:KVUE opened at $24.08 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The stock has a market capitalization of $46.17 billion, a PE ratio of 43.78, a P/E/G ratio of 2.19 and a beta of 1.36. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $24.31. The company has a fifty day moving average of $22.84 and a two-hundred day moving average of $20.86.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter in the prior year, the firm earned $0.31 EPS. The company’s revenue for the quarter was down .4% on a year-over-year basis. As a group, research analysts forecast that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.41%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s payout ratio is 149.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a report on Tuesday, September 24th. Jefferies Financial Group initiated coverage on shares of Kenvue in a report on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price for the company. Bank of America increased their price target on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, UBS Group raised their target price on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Kenvue presently has an average rating of “Hold” and an average price target of $22.64.

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.