Lake Street Advisors Group LLC Has $314,000 Position in Kenvue Inc. (NYSE:KVUE)

Lake Street Advisors Group LLC cut its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 8.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,558 shares of the company’s stock after selling 1,198 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Kenvue were worth $314,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Kenvue by 12.0% during the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after purchasing an additional 17,908,497 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 buying an additional 25,238,112 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Kenvue by 9.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 79,863,967 shares of the company’s stock valued at $1,451,927,000 after buying an additional 7,023,047 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in 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 during the last quarter. Finally, Bank of New York Mellon Corp raised its position in 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 acquiring an additional 7,546,362 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KVUE. Piper Sandler boosted their price objective on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. UBS Group raised their price objective on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Bank of America boosted their target price on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Citigroup cut 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, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.64.

Kenvue Stock Down 1.4 %

NYSE KVUE opened at $22.64 on Friday. The company has a market cap of $43.36 billion, a price-to-earnings ratio of 39.03, a PEG ratio of 3.00 and a beta of 1.40. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $23.55. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. The company has a 50 day moving average of $22.41 and a 200-day moving average of $20.29.

Kenvue (NYSE:KVUE) last released its 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 company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. Kenvue’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.32 EPS. On average, equities research analysts expect that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is presently 141.38%.

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.