Oppenheimer & Co. Inc. Lowers Position in Kenvue Inc. (NYSE:KVUE)

Oppenheimer & Co. Inc. trimmed its stake in Kenvue Inc. (NYSE:KVUE) by 8.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 177,384 shares of the company’s stock after selling 16,528 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Kenvue were worth $3,225,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Stephens Inc. AR grew its holdings in Kenvue by 86.1% in the fourth quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock valued at $1,242,000 after purchasing an additional 26,700 shares during the period. Stifel Financial Corp grew its stake in Kenvue by 60.4% during the fourth quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock worth $16,041,000 after buying an additional 280,591 shares during the period. Raleigh Capital Management Inc. grew its stake in Kenvue by 93,834.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 43,210 shares of the company’s stock worth $930,000 after buying an additional 43,164 shares during the period. The Manufacturers Life Insurance Company grew its stake in Kenvue by 2.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock worth $34,417,000 after buying an additional 40,995 shares during the period. Finally, Cornerstone Wealth Group LLC grew its stake in Kenvue by 176.2% during the first quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock worth $7,519,000 after buying an additional 223,537 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Kenvue Trading Up 1.3 %

KVUE opened at $23.39 on Monday. The stock has a market capitalization of $44.80 billion, a PE ratio of 29.99, a P/E/G ratio of 2.92 and a beta of 1.40. The firm’s fifty day moving average price is $20.41 and its 200 day moving average price is $19.82. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $23.47.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.04. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The firm’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. As a group, research analysts expect that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Increases Dividend

The firm 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. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.51%. This is a boost from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, August 14th. Kenvue’s dividend payout ratio is 105.13%.

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.