Bleakley Financial Group LLC Sells 199,319 Shares of Kenvue Inc. (NYSE:KVUE)

Bleakley Financial Group LLC cut its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 79.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,582 shares of the company’s stock after selling 199,319 shares during the quarter. Bleakley Financial Group LLC’s holdings in Kenvue were worth $1,170,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Cornerstone Wealth Group LLC grew its position in shares of Kenvue by 176.2% during the first quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock valued at $7,519,000 after purchasing an additional 223,537 shares in the last quarter. NBC Securities Inc. grew its position in shares of Kenvue by 8.4% during the first quarter. NBC Securities Inc. now owns 11,301 shares of the company’s stock valued at $242,000 after purchasing an additional 879 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Kenvue by 56.2% during the first quarter. Janney Montgomery Scott LLC now owns 1,840,875 shares of the company’s stock valued at $39,505,000 after purchasing an additional 662,666 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new position in shares of Kenvue during the first quarter valued at about $1,050,000. Finally, Norden Group LLC purchased a new position in Kenvue in the first quarter worth about $1,792,000. 97.64% of the stock is owned by institutional investors.

Kenvue Stock Performance

Kenvue stock opened at $21.72 on Monday. The company has a 50 day moving average price of $22.26 and a 200-day moving average price of $20.20. 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 company has a market capitalization of $41.59 billion, a PE ratio of 27.85, a P/E/G ratio of 2.76 and a beta of 1.40.

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

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio is presently 105.13%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Citigroup dropped their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price target on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Jefferies Financial Group assumed coverage on Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target for the company. Piper Sandler lifted 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. Finally, Royal Bank of Canada lowered Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target for the company. in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.20.

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.