Stonegate Investment Group LLC Reduces Holdings in Kenvue Inc. (NYSE:KVUE)

Stonegate Investment Group LLC decreased its position in shares of Kenvue Inc. (NYSE:KVUE) by 23.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 202,485 shares of the company’s stock after selling 62,749 shares during the period. Stonegate Investment Group LLC’s holdings in Kenvue were worth $4,683,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Kenvue by 1.8% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 198,300 shares of the company’s stock valued at $4,587,000 after acquiring an additional 3,428 shares during the last quarter. AlphaMark Advisors LLC acquired a new stake in Kenvue in the third quarter worth approximately $77,000. One Wealth Advisors LLC acquired a new stake in shares of Kenvue in the third quarter valued at $214,000. Culbertson A N & Co. Inc. lifted its holdings in Kenvue by 40.5% in the 3rd quarter. Culbertson A N & Co. Inc. now owns 16,300 shares of the company’s stock valued at $377,000 after acquiring an additional 4,700 shares during the last quarter. Finally, Wolff Wiese Magana LLC boosted its position in shares of Kenvue by 0.7% in the 3rd quarter. Wolff Wiese Magana LLC now owns 76,999 shares of the company’s stock valued at $1,781,000 after purchasing an additional 501 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KVUE. Piper Sandler boosted their price objective on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. upped their price target on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. UBS Group boosted their target price on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Citigroup reduced their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.20.

Kenvue Stock Up 0.1 %

KVUE stock traded up $0.02 during trading hours on Friday, hitting $21.47. The company’s stock had a trading volume of 1,800,179 shares, compared to its average volume of 18,076,479. The stock has a 50 day moving average price of $22.25 and a two-hundred day moving average price of $20.20. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $23.55. The company has a market capitalization of $41.11 billion, a PE ratio of 27.51, a price-to-earnings-growth ratio of 2.76 and a beta of 1.40. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

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

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date is Wednesday, November 13th. Kenvue’s payout ratio is 105.13%.

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.