Wallington Asset Management LLC Sells 583 Shares of Kenvue Inc. (NYSE:KVUE)

Wallington Asset Management LLC reduced its stake in Kenvue Inc. (NYSE:KVUE) by 0.3% during the third quarter, HoldingsChannel.com reports. The fund owned 195,652 shares of the company’s stock after selling 583 shares during the quarter. Wallington Asset Management LLC’s holdings in Kenvue were worth $4,525,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Manchester Capital Management LLC grew its stake in shares of Kenvue by 80.8% in the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after buying an additional 530 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Kenvue in the 1st quarter worth $28,000. Riverview Trust Co purchased a new position in shares of Kenvue in the 3rd quarter worth $30,000. MV Capital Management Inc. grew its stake in shares of Kenvue by 71.2% in the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock worth $33,000 after buying an additional 642 shares in the last quarter. Finally, Salomon & Ludwin LLC purchased a new position in shares of Kenvue in the 1st quarter worth $33,000. 97.64% of the stock is currently owned by institutional investors.

Kenvue Trading Down 0.8 %

Shares of KVUE opened at $22.75 on Thursday. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $23.55. The company has a 50-day moving average of $22.36 and a 200 day moving average of $20.26. The firm has a market capitalization of $43.56 billion, a price-to-earnings ratio of 29.17, a PEG ratio of 2.76 and a beta of 1.40. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter last year, the business posted $0.32 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. On average, research analysts expect that Kenvue Inc. will post 1.08 EPS for the current year.

Kenvue Announces Dividend

The firm 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 $0.205 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 annualized dividend and a dividend yield of 3.60%. Kenvue’s dividend payout ratio is currently 105.13%.

Analysts Set New Price Targets

A number of equities analysts have commented on KVUE shares. UBS Group lifted their price objective on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Piper Sandler lifted their price target on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Deutsche Bank Aktiengesellschaft lifted their price target 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. Citigroup dropped their price target 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. Finally, Bank of America lifted 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average 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.