Sentry Investment Management LLC Lowers Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Sentry Investment Management LLC reduced its position in Kenvue Inc. (NYSE:KVUE) by 17.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 8,438 shares of the company’s stock after selling 1,728 shares during the quarter. Sentry Investment Management LLC’s holdings in Kenvue were worth $153,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of 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 acquiring an additional 17,908,497 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Kenvue by 23.1% in the 1st 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 purchasing an additional 25,238,112 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Kenvue by 6.7% in the 4th 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 during the period. JPMorgan Chase & Co. grew its position in shares of Kenvue by 11.1% during the first quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock worth $1,466,147,000 after buying an additional 6,825,611 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Kenvue by 21.0% during the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock worth $789,813,000 after buying an additional 7,546,362 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 analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a 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 note on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 target price on shares of Kenvue in a report on Wednesday, August 7th. Citigroup decreased their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th. Finally, UBS Group upped their price objective on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $21.44.

Kenvue Trading Down 0.0 %

NYSE:KVUE opened at $23.08 on Friday. The company has a market capitalization of $44.19 billion, a PE ratio of 29.59, a P/E/G ratio of 2.89 and a beta of 1.40. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $23.47. The stock’s 50 day moving average price is $20.31 and its 200 day moving average price is $19.78. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data 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. The business had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The company’s revenue was down .3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 earnings per share. On average, research analysts anticipate that Kenvue Inc. will post 1.08 EPS for the current year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were paid a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, August 14th. 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 3.55%. Kenvue’s payout ratio is currently 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.