Kenvue Inc. (NYSE:KVUE) Shares Sold by Raymond James & Associates

Raymond James & Associates reduced its stake in Kenvue Inc. (NYSE:KVUE) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,710,359 shares of the company’s stock after selling 420,987 shares during the quarter. Raymond James & Associates’ holdings in Kenvue were worth $108,951,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KVUE. B. Riley Wealth Advisors Inc. boosted its stake in shares of Kenvue by 7.0% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 27,210 shares of the company’s stock worth $586,000 after acquiring an additional 1,770 shares in the last quarter. NBC Securities Inc. raised its stake in shares of Kenvue by 8.4% during the 1st quarter. NBC Securities Inc. now owns 11,301 shares of the company’s stock worth $242,000 after buying an additional 879 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Kenvue in the 1st quarter worth about $28,000. Park Avenue Securities LLC grew its stake in Kenvue by 11.1% in the 1st quarter. Park Avenue Securities LLC now owns 36,322 shares of the company’s stock valued at $779,000 after acquiring an additional 3,625 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in Kenvue in the 1st quarter valued at about $654,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on KVUE. Royal Bank of Canada lowered shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target on the stock. in a research report on Tuesday, September 24th. Jefferies Financial Group initiated coverage on Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target for the company. UBS Group increased their price objective on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Citigroup cut their target price 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. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Kenvue has a consensus rating of “Hold” and a consensus target price of $22.20.

Kenvue Stock Performance

Shares of NYSE:KVUE opened at $21.72 on Monday. The company has a market cap of $41.59 billion, a P/E ratio of 27.85, a PEG ratio of 2.76 and a beta of 1.40. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.55. The business’s 50-day simple moving average is $22.26 and its 200 day simple moving average is $20.20. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.04. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted $0.32 EPS. On average, sell-side analysts forecast that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.205 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.78%. Kenvue’s dividend payout ratio (DPR) is presently 105.13%.

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.