Susquehanna Portfolio Strategies LLC Cuts Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Susquehanna Portfolio Strategies LLC cut its stake in Kenvue Inc. (NYSE:KVUE) by 22.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,232,693 shares of the company’s stock after selling 1,491,218 shares during the period. Kenvue comprises about 3.9% of Susquehanna Portfolio Strategies LLC’s investment portfolio, making the stock its largest position. Susquehanna Portfolio Strategies LLC’s holdings in Kenvue were worth $95,130,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in KVUE. Manchester Capital Management LLC increased its position in 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 during the period. Mather Group LLC. purchased a new position in Kenvue during the 1st quarter valued at about $28,000. Riverview Trust Co purchased a new position in Kenvue during the 1st quarter valued at about $33,000. MV Capital Management Inc. increased its position in Kenvue by 71.2% during the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock valued at $33,000 after purchasing an additional 642 shares during the period. Finally, Salomon & Ludwin LLC purchased a new position in Kenvue during the 1st quarter valued at about $33,000. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Up 0.6 %

KVUE stock opened at $23.27 on Friday. The firm has a 50 day moving average of $21.31 and a 200 day moving average of $20.05. The stock has a market capitalization of $44.55 billion, a PE ratio of 29.83, a price-to-earnings-growth ratio of 2.92 and a beta of 1.40. 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 Inc. has a 52 week low of $17.67 and a 52 week high of $23.55.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS 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 business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the previous year, the business posted $0.32 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts forecast that Kenvue Inc. will post 1.08 earnings per share 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 dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.52%. This is a boost from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, August 14th. Kenvue’s payout ratio is presently 105.13%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective 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. Citigroup cut their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lifted their price objective 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. UBS Group lifted their price objective 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. Finally, Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a research report on Tuesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.10.

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.