1832 Asset Management L.P. Sells 2,100,410 Shares of Kenvue Inc. (NYSE:KVUE)

1832 Asset Management L.P. cut its stake in shares of Kenvue Inc. (NYSE:KVUE) by 72.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 794,672 shares of the company’s stock after selling 2,100,410 shares during the quarter. 1832 Asset Management L.P.’s holdings in Kenvue were worth $14,447,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Manchester Capital Management LLC boosted its position in shares of Kenvue by 80.8% during the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after purchasing an additional 530 shares in the last quarter. Mather Group LLC. acquired a new position in Kenvue in the first quarter valued at approximately $28,000. MV Capital Management Inc. boosted its holdings in shares of Kenvue by 71.2% during the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock worth $33,000 after buying an additional 642 shares in the last quarter. Salomon & Ludwin LLC acquired a new stake in Kenvue in the first quarter worth $33,000. Finally, Riverview Trust Co acquired a new stake in Kenvue in the first quarter worth $33,000. Institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

KVUE opened at $23.02 on Tuesday. 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 of $21.02 and a 200 day moving average of $19.99. 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 $44.08 billion, a P/E ratio of 29.51, a PEG ratio of 2.92 and a beta of 1.40.

Kenvue (NYSE:KVUE) last released its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the firm earned $0.32 EPS. The company’s revenue was down .3% compared to the same quarter last year. On average, research analysts expect that Kenvue Inc. will post 1.08 EPS for the current year.

Kenvue Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 3.56%. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, August 14th. Kenvue’s dividend payout ratio is 105.13%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on KVUE shares. JPMorgan Chase & Co. upped their price objective on shares of Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Citigroup dropped their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $24.00 target price on shares of Kenvue in a research note on Wednesday, August 7th. Piper Sandler raised their price target on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday. Finally, UBS Group boosted their price target on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and a consensus price target of $21.56.

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.