MetLife Investment Management LLC Sells 12,752 Shares of Kenvue Inc. (NYSE:KVUE)

MetLife Investment Management LLC cut its holdings in Kenvue Inc. (NYSE:KVUE) by 2.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 497,987 shares of the company’s stock after selling 12,752 shares during the period. MetLife Investment Management LLC’s holdings in Kenvue were worth $11,518,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Huntington National Bank raised its stake in shares of Kenvue by 26.5% in the third quarter. Huntington National Bank now owns 4,161 shares of the company’s stock valued at $96,000 after acquiring an additional 871 shares during the period. ING Groep NV grew its position in Kenvue by 23.6% in the 3rd quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock valued at $82,727,000 after acquiring an additional 681,954 shares during the last quarter. Lorne Steinberg Wealth Management Inc. lifted its position in shares of Kenvue by 59.0% during the second quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company’s stock worth $2,812,000 after purchasing an additional 57,375 shares during the last quarter. Kennon Green & Company LLC increased its stake in Kenvue by 140.7% in the 2nd quarter. Kennon Green & Company LLC now owns 159,106 shares of the company’s stock worth $2,893,000 after buying an additional 93,008 shares during the period. Finally, Czech National Bank increased its position in shares of Kenvue by 20.3% during the second quarter. Czech National Bank now owns 364,886 shares of the company’s stock worth $6,634,000 after acquiring an additional 61,635 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Trading Up 0.0 %

Kenvue stock opened at $24.13 on Friday. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.46. The stock has a market cap of $46.26 billion, a PE ratio of 43.87, a price-to-earnings-growth ratio of 2.19 and a beta of 1.36. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The stock has a 50-day moving average of $22.92 and a two-hundred day moving average of $20.96.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. Kenvue’s revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS. On average, research analysts anticipate that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.205 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.40%. Kenvue’s dividend payout ratio (DPR) is 149.09%.

Wall Street Analysts Forecast Growth

KVUE has been the subject of a number of research reports. Royal Bank of Canada lowered Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target for the company. in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft raised their price target on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Bank of America raised their target price on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. UBS Group boosted their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Kenvue currently 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.