Keudell Morrison Wealth Management Sells 1,081 Shares of Kenvue Inc. (NYSE:KVUE)

Keudell Morrison Wealth Management reduced its holdings in Kenvue Inc. (NYSE:KVUE) by 9.2% in the fourth quarter, HoldingsChannel reports. The firm owned 10,707 shares of the company’s stock after selling 1,081 shares during the period. Keudell Morrison Wealth Management’s holdings in Kenvue were worth $229,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Norris Perne & French LLP MI increased its holdings in Kenvue by 2.5% in the fourth quarter. Norris Perne & French LLP MI now owns 727,432 shares of the company’s stock worth $15,531,000 after purchasing an additional 18,073 shares in the last quarter. OLD National Bancorp IN increased its holdings in Kenvue by 14.6% in the fourth quarter. OLD National Bancorp IN now owns 22,971 shares of the company’s stock worth $490,000 after purchasing an additional 2,927 shares in the last quarter. Drystone LLC bought a new stake in Kenvue in the fourth quarter worth approximately $2,062,000. Swedbank AB increased its holdings in Kenvue by 13.1% in the fourth quarter. Swedbank AB now owns 890,980 shares of the company’s stock worth $19,022,000 after purchasing an additional 103,117 shares in the last quarter. Finally, Valicenti Advisory Services Inc. increased its holdings in Kenvue by 1.6% in the fourth quarter. Valicenti Advisory Services Inc. now owns 108,455 shares of the company’s stock worth $2,316,000 after purchasing an additional 1,752 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Down 2.0 %

Shares of NYSE:KVUE opened at $21.29 on Friday. The stock has a market cap of $40.82 billion, a price-to-earnings ratio of 38.71, a PEG ratio of 2.05 and a beta of 1.46. 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. The business’s 50 day moving average is $21.90 and its 200 day moving average is $21.87.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. Kenvue’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.31 earnings per share. On average, sell-side 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 will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be given a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.82 annualized dividend and a yield of 3.85%. Kenvue’s dividend payout ratio is currently 149.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barclays lowered their target price on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Piper Sandler upgraded Kenvue from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $21.00 to $26.00 in a report on Monday, January 6th. Citigroup decreased their price objective on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. UBS Group decreased their price objective on Kenvue from $24.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Royal Bank of Canada upgraded Kenvue from a “hold” rating to a “moderate buy” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.08.

Kenvue Company 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.