Kenvue Inc. (NYSE:KVUE) Shares Sold by Equity Investment Corp

Equity Investment Corp reduced its position in Kenvue Inc. (NYSE:KVUE) by 2.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,417,639 shares of the company’s stock after selling 152,903 shares during the quarter. Kenvue comprises about 3.2% of Equity Investment Corp’s investment portfolio, making the stock its 5th biggest position. Equity Investment Corp owned 0.33% of Kenvue worth $137,017,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KVUE. Grove Bank & Trust increased its position in shares of Kenvue by 438.4% in the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after acquiring an additional 947 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in Kenvue during the 4th quarter worth $29,000. Fortitude Family Office LLC increased its holdings in Kenvue by 106.6% in the 4th quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after purchasing an additional 777 shares in the last quarter. Ashton Thomas Securities LLC acquired a new stake in Kenvue in the 3rd quarter valued at $35,000. Finally, Versant Capital Management Inc raised its position in Kenvue by 300.8% in the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock valued at $41,000 after purchasing an additional 1,441 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of Kenvue stock opened at $23.22 on Thursday. The firm has a market cap of $44.52 billion, a PE ratio of 43.81, a price-to-earnings-growth ratio of 2.62 and a beta of 1.45. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $24.46. The firm’s 50-day simple moving average is $21.36 and its 200-day simple moving average is $22.23. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Equities analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue’s dividend payout ratio is presently 154.72%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on KVUE. Barclays lowered their target price on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. UBS Group lowered their price objective on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, February 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 price objective on shares of Kenvue in a research note on Monday, February 3rd. Canaccord Genuity Group decreased their target price on shares of Kenvue from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and dropped their price target for the stock from $25.00 to $24.00 in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $23.08.

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.