Park Place Capital Corp Sells 1,055 Shares of Kenvue Inc. (NYSE:KVUE)

Park Place Capital Corp cut its stake in shares of Kenvue Inc. (NYSE:KVUE) by 8.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,358 shares of the company’s stock after selling 1,055 shares during the period. Park Place Capital Corp’s holdings in Kenvue were worth $263,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Manchester Capital Management LLC increased its position in shares of Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after buying an additional 530 shares during the period. Mather Group LLC. bought a new stake in Kenvue during the first quarter valued at approximately $28,000. MV Capital Management Inc. lifted its position in Kenvue by 71.2% during the first 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 during the last quarter. Salomon & Ludwin LLC bought a new stake in Kenvue during the first quarter valued at approximately $33,000. Finally, Riverview Trust Co bought a new stake in Kenvue during the first quarter valued at approximately $33,000. 97.64% of the stock is currently owned by institutional investors.

Kenvue Trading Down 0.6 %

Shares of KVUE opened at $21.85 on Wednesday. The firm has a market cap of $41.84 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 2.92 and a beta of 1.40. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $23.55. The firm has a 50 day moving average price of $21.97 and a 200-day moving average price of $20.17.

Kenvue (NYSE:KVUE) last issued 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. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the firm earned $0.32 earnings per share. The firm’s revenue for the quarter was down .3% on a year-over-year basis. As a group, equities research analysts forecast that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.75%. This is an increase from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, August 14th. Kenvue’s payout ratio is presently 105.13%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on KVUE shares. Jefferies Financial Group started coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price for the company. Piper Sandler lifted their target price on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada lowered shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price for the company. in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their target price 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. Finally, Citigroup dropped their target price on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.10.

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.