Rhumbline Advisers Trims Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Rhumbline Advisers trimmed its holdings in Kenvue Inc. (NYSE:KVUE) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,337,978 shares of the company’s stock after selling 23,961 shares during the quarter. Rhumbline Advisers owned approximately 0.17% of Kenvue worth $71,266,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. FMR LLC raised its holdings in shares of Kenvue by 2.3% in the third quarter. FMR LLC now owns 137,915,493 shares of the company’s stock worth $3,189,985,000 after buying an additional 3,075,019 shares during the period. State Street Corp raised its holdings in shares of Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after buying an additional 18,283,473 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Kenvue by 8.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock worth $2,011,832,000 after buying an additional 7,115,374 shares during the period. Geode Capital Management LLC raised its holdings in shares of Kenvue by 0.9% in the third quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock worth $1,029,810,000 after buying an additional 399,846 shares during the period. Finally, Harris Associates L P raised its holdings in shares of Kenvue by 7.5% in the third quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock worth $727,658,000 after buying an additional 2,186,114 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Trading Up 2.3 %

Shares of NYSE:KVUE opened at $21.94 on Monday. 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 company has a market capitalization of $42.07 billion, a PE ratio of 41.40, a P/E/G ratio of 2.16 and a beta of 1.45. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46. The business’s fifty day simple moving average is $21.32 and its 200-day simple moving average is $22.09.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share 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%. As a group, equities research analysts predict that Kenvue Inc. will post 1.05 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a $0.205 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.74%. Kenvue’s payout ratio is 154.72%.

Analyst Upgrades and Downgrades

Several research firms have commented on KVUE. UBS Group reduced their price objective on Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, February 7th. Bank of America raised their price objective on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft downgraded Kenvue from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. Citigroup reduced their price objective on Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Finally, Piper Sandler upgraded Kenvue from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $21.00 to $26.00 in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Kenvue presently has an average rating of “Hold” and an average price target of $23.00.

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.