Modus Advisors LLC Has $2.39 Million Stake in Kenvue Inc. (NYSE:KVUE)

Modus Advisors LLC reduced its stake in shares of Kenvue Inc. (NYSE:KVUE) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 112,095 shares of the company’s stock after selling 2,221 shares during the quarter. Modus Advisors LLC’s holdings in Kenvue were worth $2,393,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. State Street Corp grew its position in Kenvue by 16.8% during the 3rd quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after acquiring an additional 18,283,473 shares during the last quarter. Massachusetts Financial Services Co. MA grew 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 worth $2,011,832,000 after purchasing an additional 7,115,374 shares during the last quarter. Holocene Advisors LP grew its holdings in shares of Kenvue by 75.5% during the third quarter. Holocene Advisors LP now owns 13,886,454 shares of the company’s stock worth $321,194,000 after purchasing an additional 5,975,392 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Kenvue by 20.7% in the second quarter. American Century Companies Inc. now owns 27,382,644 shares of the company’s stock valued at $497,816,000 after buying an additional 4,700,697 shares during the last quarter. Finally, M&G PLC lifted its position in Kenvue by 538.0% during the 3rd quarter. M&G PLC now owns 4,341,172 shares of the company’s stock worth $99,847,000 after buying an additional 3,660,730 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Trading Down 0.4 %

KVUE traded down $0.09 during mid-day trading on Friday, hitting $21.19. The stock had a trading volume of 733,396 shares, compared to its average volume of 4,322,962. The stock’s fifty day simple moving average is $22.83 and its 200-day simple moving average is $21.47. The firm has a market capitalization of $40.63 billion, a price-to-earnings ratio of 38.53, a price-to-earnings-growth ratio of 2.02 and a beta of 1.36. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69.

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

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a dividend of $0.205 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.87%. Kenvue’s payout ratio is 149.09%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on KVUE shares. Royal Bank of Canada raised shares of Kenvue from a “hold” rating to a “moderate buy” rating in a research note on Monday, December 9th. Barclays raised Kenvue to a “hold” rating in a report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft downgraded Kenvue from a “buy” rating to a “hold” rating and dropped their target price for the stock from $25.00 to $24.00 in a research report on Thursday, December 12th. Jefferies Financial Group began coverage on Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective for the company. Finally, Bank of America upped their target price on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.64.

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.