Columbus Macro LLC Cuts Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Columbus Macro LLC reduced its position in Kenvue Inc. (NYSE:KVUE) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,769 shares of the company’s stock after selling 1,997 shares during the period. Columbus Macro LLC’s holdings in Kenvue were worth $1,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vest Financial LLC boosted its position in Kenvue by 16.5% during the third quarter. Vest Financial LLC now owns 2,695,546 shares of the company’s stock worth $62,348,000 after purchasing an additional 382,114 shares in the last quarter. Everett Harris & Co. CA lifted its position in shares of Kenvue by 39.4% during the 3rd quarter. Everett Harris & Co. CA now owns 36,471 shares of the company’s stock valued at $844,000 after buying an additional 10,304 shares in the last quarter. Friedenthal Financial purchased a new position in shares of Kenvue during the 3rd quarter valued at approximately $762,000. Capital Investment Advisors LLC grew its stake in Kenvue by 11.9% in the 3rd quarter. Capital Investment Advisors LLC now owns 11,309 shares of the company’s stock valued at $262,000 after acquiring an additional 1,201 shares during the period. Finally, Riverview Trust Co purchased a new stake in Kenvue in the 3rd quarter worth $30,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KVUE has been the topic of several research analyst reports. Citigroup dropped 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. Jefferies Financial Group started coverage on Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective on the stock. Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price for the company. in a report on Tuesday, September 24th. JPMorgan Chase & Co. lifted their price target on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Piper Sandler increased their price objective on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.20.

Kenvue Trading Up 1.3 %

Shares of KVUE traded up $0.27 during midday trading on Friday, reaching $21.72. The company had a trading volume of 13,309,715 shares, compared to its average volume of 18,133,455. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $23.55. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a 50 day simple moving average of $22.26 and a 200-day simple moving average of $20.20. The stock has a market cap of $41.59 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 2.76 and a beta of 1.40.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (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 during the quarter, compared to analysts’ expectations of $3.93 billion. During the same period last year, the business earned $0.32 earnings per share. Kenvue’s revenue was down .3% compared to the same quarter last year. Research analysts forecast that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s payout ratio is presently 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.