Cary Street Partners Asset Management LLC Sells 141,395 Shares of Kenvue Inc. (NYSE:KVUE)

Cary Street Partners Asset Management LLC lessened its stake in shares of Kenvue Inc. (NYSE:KVUE) by 90.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 14,123 shares of the company’s stock after selling 141,395 shares during the quarter. Cary Street Partners Asset Management LLC’s holdings in Kenvue were worth $327,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Leo Wealth LLC lifted its position in Kenvue by 0.3% during the third quarter. Leo Wealth LLC now owns 151,611 shares of the company’s stock worth $3,507,000 after acquiring an additional 481 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in Kenvue by 6.2% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 8,400 shares of the company’s stock worth $194,000 after purchasing an additional 492 shares during the last quarter. Wolff Wiese Magana LLC boosted its stake in 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. Marathon Capital Management grew its holdings in Kenvue by 0.3% in the 2nd quarter. Marathon Capital Management now owns 149,699 shares of the company’s stock valued at $2,722,000 after buying an additional 514 shares in the last quarter. Finally, Manchester Capital Management LLC increased 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 worth $25,000 after buying an additional 530 shares during the period. Institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KVUE. Citigroup reduced their target price on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Jefferies Financial Group started coverage on shares of Kenvue in a report on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price on the stock. Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target for the company. in a research note on Tuesday, September 24th. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.64.

Kenvue Price Performance

KVUE stock opened at $23.23 on Wednesday. The stock has a market cap of $44.48 billion, a price-to-earnings ratio of 40.04, a P/E/G ratio of 2.97 and a beta of 1.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. The company has a 50 day simple moving average of $22.57 and a 200 day simple moving average of $20.47. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $23.57.

Kenvue (NYSE:KVUE) last announced 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 company had revenue of $4 billion during 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%. Kenvue’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. Research analysts anticipate that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.53%. Kenvue’s dividend payout ratio is presently 141.38%.

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.