Kenvue Inc. (NYSE:KVUE) Stock Position Cut by iA Global Asset Management Inc.

iA Global Asset Management Inc. trimmed its stake in shares of Kenvue Inc. (NYSE:KVUE) by 82.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,035 shares of the company’s stock after selling 53,580 shares during the quarter. iA Global Asset Management Inc.’s holdings in Kenvue were worth $255,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Riverview Trust Co bought a new stake in Kenvue during the third quarter worth approximately $30,000. Ashton Thomas Securities LLC acquired a new position in shares of Kenvue during the 3rd quarter valued at $35,000. Studio Investment Management LLC raised its stake in shares of Kenvue by 52.1% in the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after buying an additional 845 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its holdings in shares of Kenvue by 49.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after buying an additional 651 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in Kenvue during the second quarter valued at about $61,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Price Performance

KVUE opened at $22.74 on Wednesday. The firm has a market capitalization of $43.60 billion, a P/E ratio of 41.35, a PEG ratio of 2.07 and a beta of 1.37. The stock has a fifty day moving average of $22.96 and a 200-day moving average of $21.15. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The firm had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the prior year, the business earned $0.31 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. Equities analysts forecast that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date was Wednesday, November 13th. Kenvue’s payout ratio is presently 149.09%.

Analyst Upgrades and Downgrades

Several brokerages have commented on KVUE. JPMorgan Chase & Co. boosted their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Jefferies Financial Group began coverage on shares of Kenvue in a research note on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price for the company. Piper Sandler lifted their price target on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada downgraded Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a research report on Tuesday, September 24th. Finally, Bank of America lifted 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.64.

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.