Maplelane Capital LLC Reduces Stock Position in Kenvue Inc. (NYSE:KVUE)

Maplelane Capital LLC cut its stake in shares of Kenvue Inc. (NYSE:KVUE) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 650,000 shares of the company’s stock after selling 10,000 shares during the period. Maplelane Capital LLC’s holdings in Kenvue were worth $11,817,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. US Bancorp DE increased its position in shares of Kenvue by 111.7% during the 4th quarter. US Bancorp DE now owns 103,733 shares of the company’s stock valued at $2,233,000 after purchasing an additional 54,729 shares during the last quarter. Parallel Advisors LLC raised its position in Kenvue by 75.4% in the fourth quarter. Parallel Advisors LLC now owns 18,182 shares of the company’s stock worth $391,000 after acquiring an additional 7,818 shares during the period. Stifel Financial Corp boosted its stake in shares of Kenvue by 60.4% during the 4th quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock worth $16,041,000 after acquiring an additional 280,591 shares during the last quarter. Focus Financial Network Inc. ADV purchased a new position in shares of Kenvue during the 4th quarter worth $1,526,000. Finally, Fiduciary Trust Co bought a new stake in shares of Kenvue during the 4th quarter valued at $272,000. 97.64% of the stock is owned by institutional investors.

Kenvue Trading Up 0.5 %

Kenvue stock opened at $23.12 on Friday. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $23.55. The firm’s 50 day moving average price is $21.21 and its 200-day moving average price is $20.03. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. The stock has a market cap of $44.27 billion, a P/E ratio of 29.64, a PEG ratio of 2.92 and a beta of 1.40.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the previous year, the firm posted $0.32 EPS. Kenvue’s revenue for the quarter was down .3% compared to the same quarter last year. On average, equities analysts predict that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a dividend of $0.205 per share. 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 dividend payout ratio is presently 105.13%.

Analysts Set New Price Targets

Several research firms recently weighed in on KVUE. Citigroup lowered their target price on 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 Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Piper Sandler increased their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday. UBS Group raised their target price on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group began coverage on shares of Kenvue in a research report on Tuesday. They issued a “buy” rating and a $27.00 price target for the company. One research 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, Kenvue has a consensus rating of “Hold” and a consensus target price of $22.10.

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.