Dark Forest Capital Management LP Decreases Stock Position in Kenvue Inc. (NYSE:KVUE)

Dark Forest Capital Management LP cut its stake in shares of Kenvue Inc. (NYSE:KVUE) by 49.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 13,965 shares of the company’s stock after selling 13,735 shares during the quarter. Dark Forest Capital Management LP’s holdings in Kenvue were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in KVUE. Daymark Wealth Partners LLC bought a new position in Kenvue in the 2nd quarter worth $401,000. DoubleLine ETF Adviser LP raised its position in shares of Kenvue by 3.0% during the 2nd quarter. DoubleLine ETF Adviser LP now owns 76,270 shares of the company’s stock valued at $1,387,000 after buying an additional 2,198 shares in the last quarter. APG Asset Management N.V. raised its position in shares of Kenvue by 305.7% during the 2nd quarter. APG Asset Management N.V. now owns 196,766 shares of the company’s stock valued at $3,338,000 after buying an additional 148,263 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Kenvue by 427.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,178,988 shares of the company’s stock valued at $21,434,000 after buying an additional 955,283 shares in the last quarter. Finally, Armistice Capital LLC raised its position in Kenvue by 10.1% in the 2nd quarter. Armistice Capital LLC now owns 1,588,358 shares of the company’s stock worth $28,876,000 after purchasing an additional 145,329 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on KVUE shares. Citigroup reduced their target price 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. 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 report on Tuesday, September 24th. UBS Group lifted their price target on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Jefferies Financial Group started coverage on shares of Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $22.10.

Kenvue Stock Performance

Kenvue stock opened at $23.26 on Monday. The firm has a 50 day simple moving average of $21.41 and a 200-day simple moving average of $20.07. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $23.55. 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 $44.54 billion, a price-to-earnings ratio of 29.82, a price-to-earnings-growth ratio of 2.92 and a beta of 1.40.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping 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 firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same period in the prior year, the business posted $0.32 EPS. The business’s revenue for the quarter was down .3% compared to the same quarter last year. On average, analysts expect that Kenvue Inc. will post 1.08 EPS for the current year.

Kenvue Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were issued a dividend of $0.205 per share. The ex-dividend date 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 3.53%. Kenvue’s dividend payout ratio is 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.