Allspring Global Investments Holdings LLC Decreases Stake in Kenvue Inc. (NYSE:KVUE)

Allspring Global Investments Holdings LLC lowered its holdings in Kenvue Inc. (NYSE:KVUE) by 92.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 86,955 shares of the company’s stock after selling 1,020,569 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Kenvue were worth $1,866,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in KVUE. Park Place Capital Corp increased its holdings in Kenvue by 18.4% during the 1st quarter. Park Place Capital Corp now owns 16,656 shares of the company’s stock valued at $357,000 after acquiring an additional 2,585 shares in the last quarter. Wolff Wiese Magana LLC lifted its stake in shares of Kenvue by 41.2% during the 1st quarter. Wolff Wiese Magana LLC now owns 76,462 shares of the company’s stock worth $1,641,000 after purchasing an additional 22,307 shares during the period. Aviance Capital Partners LLC purchased a new stake in shares of Kenvue during the 1st quarter valued at $230,000. Citizens Business Bank raised its holdings in shares of Kenvue by 3.3% in the 1st quarter. Citizens Business Bank now owns 124,139 shares of the company’s stock worth $2,664,000 after purchasing an additional 3,943 shares during the period. Finally, Cornerstone Wealth Group LLC lifted its position in Kenvue by 176.2% during the first quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock valued at $7,519,000 after buying an additional 223,537 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. William Blair began coverage on Kenvue in a research note on Wednesday, April 3rd. They set a “market perform” rating for the company. HSBC lifted their target price on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Sanford C. Bernstein assumed coverage on shares of Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective for the company. Finally, Citigroup restated a “neutral” rating and issued a $21.00 price target on shares of Kenvue in a research report on Tuesday, May 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.09.

Kenvue Stock Performance

Shares of KVUE opened at $18.24 on Wednesday. The company has a market capitalization of $34.93 billion, a PE ratio of 23.38, a PEG ratio of 1.93 and a beta of 1.41. 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 company’s 50 day moving average price is $19.14 and its 200 day moving average price is $19.93. Kenvue Inc. has a 52 week low of $17.75 and a 52 week high of $26.60.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.79 billion. The company’s revenue was down 24.9% on a year-over-year basis. Research analysts expect that Kenvue Inc. will post 1.17 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.39%. Kenvue’s 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.