Kenvue Inc. (NYSE:KVUE) Shares Sold by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC cut its holdings in Kenvue Inc. (NYSE:KVUE) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,321 shares of the company’s stock after selling 831 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Kenvue were worth $925,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in KVUE. Riverview Trust Co acquired a new stake in shares of Kenvue during the third quarter valued at about $30,000. Ashton Thomas Securities LLC acquired a new stake in Kenvue in the 3rd quarter valued at approximately $35,000. Fortitude Family Office LLC raised its position in Kenvue by 106.6% in the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after purchasing an additional 777 shares during the period. Versant Capital Management Inc lifted its stake in Kenvue by 300.8% during the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after purchasing an additional 1,441 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators boosted its position in shares of Kenvue by 49.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after buying an additional 651 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Barclays raised Kenvue to a “hold” rating in a research note on Thursday, December 12th. Jefferies Financial Group assumed coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target on the stock. Citigroup dropped their price objective on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday. Piper Sandler upgraded shares of Kenvue from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $21.00 to $26.00 in a report on Monday, January 6th. Finally, Bank of America boosted their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $23.18.

Kenvue Price Performance

Kenvue stock opened at $20.83 on Thursday. The stock has a market cap of $39.94 billion, a P/E ratio of 37.87, a price-to-earnings-growth ratio of 2.02 and a beta of 1.46. The company has a fifty day simple moving average of $22.50 and a 200-day simple moving average of $21.64. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share (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 during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the firm posted $0.31 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. Equities analysts expect that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

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.