JPMorgan Chase & Co. Sells 7,138,646 Shares of Kenvue Inc. (NYSE:KVUE)

JPMorgan Chase & Co. lessened its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 24.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,314,306 shares of the company’s stock after selling 7,138,646 shares during the quarter. JPMorgan Chase & Co.’s holdings in Kenvue were worth $476,410,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of KVUE. Alerus Financial NA boosted its holdings in shares of Kenvue by 0.3% in the 3rd quarter. Alerus Financial NA now owns 191,345 shares of the company’s stock worth $4,426,000 after purchasing an additional 491 shares in the last quarter. Kiley Juergens Wealth Management LLC boosted its stake in shares of Kenvue by 1.9% during the fourth quarter. Kiley Juergens Wealth Management LLC now owns 27,110 shares of the company’s stock valued at $579,000 after purchasing an additional 500 shares during the period. Principle Wealth Partners LLC grew its holdings in Kenvue by 3.7% in the 4th quarter. Principle Wealth Partners LLC now owns 14,194 shares of the company’s stock worth $303,000 after acquiring an additional 500 shares during the last quarter. White Pine Capital LLC grew its stake in shares of Kenvue by 1.0% in the fourth quarter. White Pine Capital LLC now owns 54,572 shares of the company’s stock worth $1,165,000 after purchasing an additional 542 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators grew its position in shares of Kenvue by 29.0% in the 4th quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company’s stock worth $54,000 after buying an additional 568 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

NYSE KVUE opened at $23.74 on Friday. The company’s 50 day moving average is $22.32 and its two-hundred day moving average is $22.45. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The stock has a market cap of $45.36 billion, a price-to-earnings ratio of 44.78, a PEG ratio of 2.62 and a beta of 1.25. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $24.46.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. As a group, research analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.45%. Kenvue’s dividend payout ratio is currently 154.72%.

Wall Street Analyst Weigh In

KVUE has been the topic of a number of research reports. UBS Group cut their target price on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Evercore ISI assumed coverage on Kenvue in a research note on Monday, March 24th. They issued an “in-line” rating and a $25.00 target price on the stock. Barclays increased their price target on shares of Kenvue from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Thursday. Piper Sandler lifted their price objective on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 target price on shares of Kenvue in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kenvue presently has a consensus rating of “Hold” and a consensus price target of $24.00.

About Kenvue

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.