Allspring Global Investments Holdings LLC Cuts Stock Position in Kenvue Inc. (NYSE:KVUE)

Allspring Global Investments Holdings LLC reduced its holdings in Kenvue Inc. (NYSE:KVUE) by 92.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 86,955 shares of the company’s stock after selling 1,020,569 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Kenvue were worth $1,866,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in KVUE. Ameriprise Financial Inc. raised its holdings in Kenvue by 181.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 12,380,767 shares of the company’s stock valued at $248,625,000 after buying an additional 7,975,952 shares during the period. Legal & General Group Plc bought a new stake in Kenvue in the third quarter worth about $94,030,000. Lake Street Advisors Group LLC purchased a new position in shares of Kenvue during the third quarter valued at approximately $206,000. Kenfarb & CO. bought a new position in shares of Kenvue during the third quarter valued at approximately $50,000. Finally, Seven Eight Capital LP purchased a new stake in shares of Kenvue in the third quarter worth approximately $535,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Stock Up 1.6 %

NYSE:KVUE opened at $18.24 on Wednesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The company’s fifty day moving average price is $19.14 and its 200-day moving average price is $19.93. Kenvue Inc. has a 1-year low of $17.75 and a 1-year high of $26.60. The firm has a market capitalization of $34.93 billion, a P/E ratio of 23.38, a PEG ratio of 1.93 and a beta of 1.41.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.79 billion. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. Kenvue’s quarterly revenue was down 24.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Kenvue Inc. will post 1.17 EPS for the current year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were given a $0.20 dividend. The ex-dividend date was Tuesday, May 7th. This represents a $0.80 annualized dividend and a yield of 4.39%. Kenvue’s dividend payout ratio is presently 102.56%.

Analysts Set New Price Targets

Several equities analysts have commented on KVUE shares. HSBC upped their price objective on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Sanford C. Bernstein began coverage on shares of Kenvue in a report on Thursday, April 11th. They set an “underperform” rating and a $18.00 target price on the stock. Citigroup reiterated a “neutral” rating and issued a $21.00 price target on shares of Kenvue in a report on Tuesday, May 28th. Finally, William Blair assumed coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They set a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Kenvue currently has an average rating of “Hold” and a consensus price target of $23.09.

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.