King Luther Capital Management Corp Trims Position in Kenvue Inc. (NYSE:KVUE)

King Luther Capital Management Corp decreased its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,596 shares of the company’s stock after selling 1,631 shares during the period. King Luther Capital Management Corp’s holdings in Kenvue were worth $1,065,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KVUE. Manchester Capital Management LLC raised its position in Kenvue by 80.8% during 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 during the last quarter. Poehling Capital Management INC. raised its holdings in Kenvue by 0.5% during the second quarter. Poehling Capital Management INC. now owns 104,934 shares of the company’s stock worth $1,908,000 after purchasing an additional 547 shares in the last quarter. Tradition Wealth Management LLC lifted its position in Kenvue by 2.8% in the fourth quarter. Tradition Wealth Management LLC now owns 21,278 shares of the company’s stock valued at $458,000 after purchasing an additional 575 shares during the period. MV Capital Management Inc. boosted its holdings in Kenvue by 71.2% in the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock valued at $33,000 after purchasing an additional 642 shares in the last quarter. Finally, Cove Private Wealth LLC increased its position in Kenvue by 1.6% during the 2nd quarter. Cove Private Wealth LLC now owns 44,539 shares of the company’s stock worth $810,000 after purchasing an additional 700 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

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

Kenvue Trading Up 0.5 %

Shares of KVUE opened at $23.02 on Monday. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $23.55. The stock has a fifty day moving average of $20.92 and a two-hundred day moving average of $19.96. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99. The company has a market capitalization 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.

Kenvue (NYSE:KVUE) last released its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating 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 firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same period in the prior year, the firm posted $0.32 earnings per share. The business’s quarterly revenue was down .3% compared to the same quarter last year. As a group, analysts forecast that Kenvue Inc. will post 1.08 EPS for the current year.

Kenvue Increases Dividend

The business 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. The ex-dividend date of this dividend was Wednesday, August 14th. This is a boost from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a dividend yield of 3.56%. Kenvue’s dividend payout ratio (DPR) is currently 105.13%.

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.