Griffin Asset Management Inc. Reduces Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Griffin Asset Management Inc. lessened its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 13.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,633 shares of the company’s stock after selling 3,091 shares during the period. Griffin Asset Management Inc.’s holdings in Kenvue were worth $477,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KVUE. Cornell Pochily Investment Advisors Inc. purchased a new position in Kenvue during the third quarter valued at approximately $215,000. Novare Capital Management LLC grew its stake in shares of Kenvue by 6.7% during the 3rd quarter. Novare Capital Management LLC now owns 463,354 shares of the company’s stock worth $10,717,000 after purchasing an additional 29,101 shares during the period. Paladin Wealth LLC purchased a new position in shares of Kenvue during the 3rd quarter valued at approximately $190,000. Thomasville National Bank increased its holdings in shares of Kenvue by 6.5% during the 3rd quarter. Thomasville National Bank now owns 696,641 shares of the company’s stock valued at $16,113,000 after purchasing an additional 42,504 shares in the last quarter. Finally, Willis Investment Counsel lifted its stake in shares of Kenvue by 19.8% in the 3rd quarter. Willis Investment Counsel now owns 883,752 shares of the company’s stock valued at $20,441,000 after purchasing an additional 146,075 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on KVUE shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Piper Sandler upped their price target on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Citigroup lowered their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group assumed coverage on Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price on the stock. One analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Kenvue currently has an average rating of “Hold” and an average target price of $22.20.

Kenvue Trading Down 0.1 %

Shares of KVUE stock opened at $21.73 on Thursday. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $23.55. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99. The stock’s fifty day moving average is $22.24 and its two-hundred day moving average is $20.19. The firm has a market capitalization of $41.61 billion, a P/E ratio of 27.86, a PEG ratio of 2.76 and a beta of 1.40.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share 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 for the quarter, compared to the consensus estimate of $3.93 billion. During the same period last year, the firm posted $0.32 earnings per share. The company’s revenue for the quarter was down .3% on a year-over-year basis. Research analysts expect that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.77%. The ex-dividend date of this dividend was Wednesday, August 14th. This is a boost from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio (DPR) is currently 105.13%.

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.