Franklin Resources Inc. Lowers Holdings in Kenvue Inc. (NYSE:KVUE)

Franklin Resources Inc. reduced its position in shares of Kenvue Inc. (NYSE:KVUE) by 6.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,449,656 shares of the company’s stock after selling 1,714,826 shares during the quarter. Franklin Resources Inc.’s holdings in Kenvue were worth $571,313,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of KVUE. Tidal Investments LLC grew its holdings in Kenvue by 9.9% during the 3rd quarter. Tidal Investments LLC now owns 131,128 shares of the company’s stock worth $3,033,000 after acquiring an additional 11,849 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Kenvue in the 3rd quarter worth approximately $1,057,000. Sanctuary Advisors LLC boosted its stake in shares of Kenvue by 166.3% during the third quarter. Sanctuary Advisors LLC now owns 544,890 shares of the company’s stock valued at $13,121,000 after purchasing an additional 340,266 shares in the last quarter. Boyar Asset Management Inc. boosted its stake in shares of Kenvue by 7.2% during the third quarter. Boyar Asset Management Inc. now owns 29,171 shares of the company’s stock valued at $675,000 after purchasing an additional 1,948 shares in the last quarter. Finally, Bard Financial Services Inc. increased its holdings in Kenvue by 5.7% during the third quarter. Bard Financial Services Inc. now owns 106,790 shares of the company’s stock valued at $2,470,000 after buying an additional 5,750 shares during the period. 97.64% of the stock is owned by institutional investors.

Kenvue Stock Down 0.5 %

NYSE:KVUE opened at $22.21 on Friday. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. The company has a market cap of $42.58 billion, a PE ratio of 40.38, a P/E/G ratio of 2.02 and a beta of 1.36. The company’s 50 day moving average is $22.95 and its two-hundred day moving average is $21.17.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.31 earnings per share. Analysts anticipate that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.69%. The ex-dividend date was Wednesday, November 13th. Kenvue’s payout ratio is 149.09%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Bank of America upped their target price on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. upped their price objective on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Piper Sandler lifted their target price on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Jefferies Financial Group assumed coverage on shares of Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft cut shares of Kenvue from a “buy” rating to a “hold” rating and lowered their price target for the company from $25.00 to $24.00 in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and an average price target of $22.64.

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.