Troy Asset Management Ltd Has $27.79 Million Stake in Kenvue Inc. (NYSE:KVUE)

Troy Asset Management Ltd lowered its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 13.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,528,455 shares of the company’s stock after selling 227,974 shares during the period. Kenvue comprises 0.9% of Troy Asset Management Ltd’s portfolio, making the stock its 27th largest holding. Troy Asset Management Ltd owned approximately 0.08% of Kenvue worth $27,787,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Pathway Financial Advisers LLC boosted its holdings in Kenvue by 12.0% during the second quarter. Pathway Financial Advisers LLC now owns 5,131 shares of the company’s stock valued at $93,000 after purchasing an additional 549 shares in the last quarter. Brandes Investment Partners LP lifted its position in shares of Kenvue by 3,620.9% during the 2nd quarter. Brandes Investment Partners LP now owns 1,615,904 shares of the company’s stock worth $29,407,000 after buying an additional 1,572,476 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in shares of Kenvue by 7.2% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 27,278 shares of the company’s stock worth $496,000 after buying an additional 1,838 shares during the period. Sunbelt Securities Inc. boosted its stake in Kenvue by 28.3% in the 2nd quarter. Sunbelt Securities Inc. now owns 28,766 shares of the company’s stock valued at $523,000 after buying an additional 6,353 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Kenvue by 13.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 62,687 shares of the company’s stock valued at $1,140,000 after acquiring an additional 7,564 shares during the period. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Down 0.6 %

Shares of NYSE:KVUE opened at $23.13 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. The stock has a market cap of $44.29 billion, a price-to-earnings ratio of 29.65, a P/E/G ratio of 2.92 and a beta of 1.40. The company has a 50 day moving average of $21.41 and a 200-day moving average of $20.07. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.55.

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

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.55%. This is a boost from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio (DPR) is 105.13%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target for the company. in a report on Tuesday, September 24th. Piper Sandler upped their price objective 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. Citigroup dropped their price objective 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. Finally, Jefferies Financial Group started coverage on Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $22.10.

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.