Natixis Cuts Position in Kenvue Inc. (NYSE:KVUE)

Natixis cut its stake in Kenvue Inc. (NYSE:KVUE) by 64.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,935 shares of the company’s stock after selling 78,708 shares during the period. Natixis’ holdings in Kenvue were worth $921,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beaumont Financial Advisors LLC lifted its stake in Kenvue by 3.0% in the fourth quarter. Beaumont Financial Advisors LLC now owns 17,532 shares of the company’s stock worth $377,000 after purchasing an additional 509 shares during the last quarter. Pinnacle Bancorp Inc. lifted its stake in Kenvue by 51.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock worth $33,000 after purchasing an additional 526 shares during the last quarter. Manchester Capital Management LLC lifted its stake in Kenvue by 80.8% in the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after purchasing an additional 530 shares during the last quarter. Tradition Wealth Management LLC lifted its stake in Kenvue by 2.8% in the fourth quarter. Tradition Wealth Management LLC now owns 21,278 shares of the company’s stock worth $458,000 after purchasing an additional 575 shares during the last quarter. Finally, Mutual Advisors LLC lifted its stake in Kenvue by 6.1% in the fourth quarter. Mutual Advisors LLC now owns 10,606 shares of the company’s stock worth $228,000 after purchasing an additional 612 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KVUE has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Kenvue from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Monday. Citigroup lowered their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. HSBC upped their price objective on shares of Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Sanford C. Bernstein assumed coverage on shares of Kenvue in a research note on Thursday, April 11th. They set an “underperform” rating and a $18.00 price objective for the company. Finally, William Blair assumed coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They set a “market perform” rating for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.45.

Kenvue Stock Up 0.8 %

Shares of NYSE:KVUE traded up $0.15 during trading on Friday, reaching $18.40. 863,214 shares of the stock traded hands, compared to its average volume of 18,969,041. The stock has a 50-day moving average of $18.63 and a two-hundred day moving average of $19.58. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $25.00. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.99. The stock has a market cap of $35.23 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 1.99 and a beta of 1.40.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $3.79 billion. The business’s revenue was down 24.9% on a year-over-year basis. As a group, sell-side analysts expect that Kenvue Inc. will post 1.13 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be given a dividend of $0.205 per share. This is an increase from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a yield of 4.46%. Kenvue’s dividend payout ratio is 102.56%.

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.