Nuance Investments LLC Trims Stake in Kenvue Inc. (NYSE:KVUE)

Nuance Investments LLC lessened its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 67.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 379,568 shares of the company’s stock after selling 778,996 shares during the quarter. Nuance Investments LLC’s holdings in Kenvue were worth $8,779,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Riverview Trust Co bought a new stake in Kenvue during the third quarter valued at approximately $30,000. Ashton Thomas Securities LLC purchased a new position in Kenvue in the third quarter worth $35,000. Deseret Mutual Benefit Administrators increased its stake in Kenvue by 49.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after acquiring an additional 651 shares during the last quarter. Studio Investment Management LLC raised its position in Kenvue by 52.1% during the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after purchasing an additional 845 shares in the last quarter. Finally, AlphaMark Advisors LLC purchased a new stake in Kenvue during the third quarter valued at about $77,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

KVUE has been the topic of several recent research reports. Bank of America increased their price objective on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. UBS Group lifted their price target on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Jefferies Financial Group initiated coverage on shares of Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective for the company. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada lowered shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target for the company. in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Kenvue presently has a consensus rating of “Hold” and an average price target of $22.64.

Kenvue Stock Performance

Kenvue stock opened at $23.69 on Wednesday. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.13. The firm has a market cap of $45.42 billion, a P/E ratio of 43.07, a P/E/G ratio of 2.16 and a beta of 1.36. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average of $22.78 and a 200-day moving average of $20.75.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company earned $0.31 EPS. Sell-side analysts expect that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.46%. Kenvue’s dividend payout ratio (DPR) is 149.09%.

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.