Kenvue Inc. (NYSE:KVUE) Stock Holdings Lessened by RNC Capital Management LLC

RNC Capital Management LLC reduced its holdings in Kenvue Inc. (NYSE:KVUE) by 2.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,886,566 shares of the company’s stock after selling 54,587 shares during the quarter. Kenvue makes up 2.2% of RNC Capital Management LLC’s portfolio, making the stock its 21st biggest position. RNC Capital Management LLC’s holdings in Kenvue were worth $40,278,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Financial Advocates Investment Management lifted its position in shares of Kenvue by 208.3% in the 4th quarter. Financial Advocates Investment Management now owns 38,113 shares of the company’s stock worth $814,000 after buying an additional 25,752 shares during the last quarter. Bleakley Financial Group LLC lifted its position in Kenvue by 35.1% in the 4th quarter. Bleakley Financial Group LLC now owns 68,352 shares of the company’s stock valued at $1,459,000 after purchasing an additional 17,770 shares during the last quarter. Choreo LLC lifted its position in Kenvue by 36.2% in the 4th quarter. Choreo LLC now owns 50,792 shares of the company’s stock valued at $1,077,000 after purchasing an additional 13,506 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Kenvue by 38.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 406,467 shares of the company’s stock valued at $8,677,000 after purchasing an additional 113,157 shares during the last quarter. Finally, Y.D. More Investments Ltd lifted its position in Kenvue by 15.7% in the 4th quarter. Y.D. More Investments Ltd now owns 6,513 shares of the company’s stock valued at $139,000 after purchasing an additional 882 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KVUE. Bank of America lifted their price objective 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. JPMorgan Chase & Co. lifted their price objective 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. Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and cut their price objective for the company from $25.00 to $24.00 in a research report on Thursday, December 12th. Citigroup cut their price objective on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Finally, Barclays lowered their target price on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $23.08.

Kenvue Stock Performance

Shares of KVUE opened at $19.78 on Friday. The firm’s 50 day moving average is $21.70 and its 200-day moving average is $21.95. The stock has a market capitalization of $37.93 billion, a P/E ratio of 35.97, a P/E/G ratio of 2.05 and a beta of 1.45. 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 Inc. has a 12-month low of $17.67 and a 12-month high of $24.46.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. Equities research analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Wednesday, February 12th. Kenvue’s dividend payout ratio (DPR) is currently 149.09%.

Kenvue Company 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.