Bruce G. Allen Investments LLC Trims Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Bruce G. Allen Investments LLC lowered its holdings in Kenvue Inc. (NYSE:KVUE) by 12.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 6,430 shares of the company’s stock after selling 925 shares during the period. Bruce G. Allen Investments LLC’s holdings in Kenvue were worth $149,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Kenvue by 12.0% in the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after purchasing an additional 17,908,497 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Kenvue by 23.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after buying an additional 25,238,112 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Kenvue by 9.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 79,863,967 shares of the company’s stock valued at $1,451,927,000 after buying an additional 7,023,047 shares in the last quarter. Wellington Management Group LLP raised its stake in Kenvue by 6.7% during the fourth quarter. Wellington Management Group LLP now owns 76,501,956 shares of the company’s stock valued at $1,647,087,000 after buying an additional 4,815,126 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Kenvue by 11.1% during the first quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock valued at $1,466,147,000 after buying an additional 6,825,611 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

KVUE has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their price objective on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Piper Sandler increased their price target on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. UBS Group increased their price target on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Citigroup dropped their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, Jefferies Financial Group began coverage on Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target 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’s stock. According to MarketBeat, Kenvue currently has an average rating of “Hold” and a consensus target price of $22.10.

Kenvue Stock Performance

Shares of NYSE KVUE opened at $21.53 on Thursday. The stock has a fifty day moving average price of $21.97 and a two-hundred day moving average price of $20.17. 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 firm has a market cap of $41.23 billion, a P/E ratio of 27.60, a PEG ratio of 2.92 and a beta of 1.40. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $23.55.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating 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 return on equity of 21.80% and a net margin of 7.23%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the company posted $0.32 EPS. Research analysts forecast that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were paid a dividend of $0.205 per share. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend was Wednesday, August 14th. Kenvue’s dividend payout ratio (DPR) is presently 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.