Kenvue Inc. (NYSE:KVUE) Shares Sold by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC reduced its stake in shares of Kenvue Inc. (NYSE:KVUE) by 25.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 133,184 shares of the company’s stock after selling 45,979 shares during the period. Princeton Global Asset Management LLC’s holdings in Kenvue were worth $3,081,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Kenvue in the 1st quarter valued at $1,050,000. Lorne Steinberg Wealth Management Inc. raised its position in shares of Kenvue by 59.0% in the second quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company’s stock worth $2,812,000 after acquiring an additional 57,375 shares during the period. Kennon Green & Company LLC boosted its stake in shares of Kenvue by 140.7% during the 2nd quarter. Kennon Green & Company LLC now owns 159,106 shares of the company’s stock worth $2,893,000 after acquiring an additional 93,008 shares in the last quarter. Czech National Bank grew its position in shares of Kenvue by 20.3% during the 2nd quarter. Czech National Bank now owns 364,886 shares of the company’s stock valued at $6,634,000 after acquiring an additional 61,635 shares during the period. Finally, Crestwood Advisors Group LLC increased its stake in shares of Kenvue by 14.8% in the 2nd quarter. Crestwood Advisors Group LLC now owns 1,537,348 shares of the company’s stock valued at $27,950,000 after purchasing an additional 198,607 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

KVUE opened at $22.73 on Friday. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $23.55. The firm has a market capitalization of $43.53 billion, a PE ratio of 39.19, a PEG ratio of 3.00 and a beta of 1.35. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. The firm’s 50-day moving average price is $22.53 and its 200 day moving average price is $20.41.

Kenvue (NYSE:KVUE) last issued its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the previous year, the firm posted $0.32 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. As a group, sell-side analysts expect that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.205 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 annualized dividend and a dividend yield of 3.61%. Kenvue’s dividend payout ratio is presently 141.38%.

Analysts Set New Price Targets

A number of brokerages have issued reports on KVUE. Piper Sandler increased their price target on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Bank of America increased their target price on 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. boosted their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. UBS Group increased their price objective on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. 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 company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.64.

About Kenvue

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.