Brown Brothers Harriman & Co. Lowers Holdings in Kenvue Inc. (NYSE:KVUE)

Brown Brothers Harriman & Co. cut its stake in shares of Kenvue Inc. (NYSE:KVUE) by 8.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 487,881 shares of the company’s stock after selling 43,447 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Kenvue were worth $8,870,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Manchester Capital Management LLC grew its position in Kenvue by 80.8% during the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after purchasing an additional 530 shares during the last quarter. Poehling Capital Management INC. raised its stake in Kenvue by 0.5% during the 2nd quarter. Poehling Capital Management INC. now owns 104,934 shares of the company’s stock valued at $1,908,000 after buying an additional 547 shares during the last quarter. Tradition Wealth Management LLC lifted its holdings in shares of Kenvue by 2.8% during the 4th quarter. Tradition Wealth Management LLC now owns 21,278 shares of the company’s stock valued at $458,000 after buying an additional 575 shares during the period. MV Capital Management Inc. boosted its stake in shares of Kenvue by 71.2% in the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock worth $33,000 after buying an additional 642 shares during the last quarter. Finally, Cove Private Wealth LLC grew its holdings in shares of Kenvue by 1.6% in the second quarter. Cove Private Wealth LLC now owns 44,539 shares of the company’s stock worth $810,000 after acquiring an additional 700 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Up 1.3 %

Shares of KVUE stock opened at $23.39 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.47. The company’s fifty day moving average price is $20.41 and its 200-day moving average price is $19.82. The company has a market capitalization of $44.80 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 2.92 and a beta of 1.40.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.32 earnings per share. Sell-side analysts expect that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.51%. This is an increase from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, August 14th. Kenvue’s dividend payout ratio is presently 105.13%.

Analyst Ratings Changes

Several brokerages have issued reports on KVUE. UBS Group raised their target price on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Citigroup dropped their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $24.00 price target on shares of Kenvue in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Kenvue has an average rating of “Hold” and a consensus target price of $21.44.

Kenvue 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.