Thrivent Financial for Lutherans Trims Holdings in Kenvue Inc. (NYSE:KVUE)

Thrivent Financial for Lutherans lessened its stake in Kenvue Inc. (NYSE:KVUE) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,426,800 shares of the company’s stock after selling 26,077 shares during the period. Thrivent Financial for Lutherans owned about 0.18% of Kenvue worth $62,300,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new position in Kenvue during the 4th quarter worth $467,000. Coldstream Capital Management Inc. acquired a new stake in Kenvue during the fourth quarter valued at approximately $365,000. D.A. Davidson & CO. lifted its holdings in Kenvue by 61.7% during the 4th quarter. D.A. Davidson & CO. now owns 57,386 shares of the company’s stock worth $1,236,000 after buying an additional 21,889 shares during the last quarter. Corient Private Wealth LLC grew its position in shares of Kenvue by 202.8% in the 4th quarter. Corient Private Wealth LLC now owns 365,667 shares of the company’s stock worth $7,873,000 after acquiring an additional 244,925 shares in the last quarter. Finally, Assetmark Inc. grew its position in shares of Kenvue by 2,337.2% in the 4th quarter. Assetmark Inc. now owns 39,995 shares of the company’s stock worth $861,000 after acquiring an additional 38,354 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Stock Up 0.5 %

KVUE stock opened at $23.02 on Friday. The stock has a market cap of $44.08 billion, a PE ratio of 29.51, a price-to-earnings-growth ratio of 2.92 and a beta of 1.40. The firm’s 50-day simple moving average is $20.92 and its 200 day simple moving average is $19.96. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $23.55. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

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

Kenvue Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were given a $0.205 dividend. This is a boost from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Wednesday, August 14th. Kenvue’s dividend payout ratio (DPR) is currently 105.13%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KVUE. Royal Bank of Canada reissued an “outperform” rating and set a $24.00 price target on shares of Kenvue in a research report on Wednesday, August 7th. JPMorgan Chase & Co. increased their target price on shares of Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, August 7th. Citigroup decreased their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Finally, UBS Group raised their target price on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.44.

Kenvue Company 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.