Sterneck Capital Management LLC Decreases Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Sterneck Capital Management LLC reduced its position in shares of Kenvue Inc. (NYSE:KVUE) by 6.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,018 shares of the company’s stock after selling 1,906 shares during the quarter. Sterneck Capital Management LLC’s holdings in Kenvue were worth $641,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Riverview Trust Co bought a new position in shares of Kenvue during the third quarter valued at about $30,000. Ashton Thomas Securities LLC bought a new position in Kenvue during the 3rd quarter valued at approximately $35,000. Versant Capital Management Inc lifted its holdings in Kenvue by 300.8% in the 4th quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after buying an additional 1,441 shares during the period. Studio Investment Management LLC lifted its holdings in Kenvue by 52.1% in the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after buying an additional 845 shares during the period. Finally, Deseret Mutual Benefit Administrators grew its position in shares of Kenvue by 49.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after buying an additional 651 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Royal Bank of Canada upgraded Kenvue from a “hold” rating to a “moderate buy” rating in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft lowered shares of Kenvue from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. Bank of America lifted their target price on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Piper Sandler raised shares of Kenvue from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $21.00 to $26.00 in a research note on Monday. Finally, JPMorgan Chase & Co. lifted their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Kenvue has an average rating of “Hold” and a consensus price target of $23.09.

Kenvue Stock Performance

Kenvue stock opened at $21.03 on Wednesday. The stock’s 50 day moving average is $22.77 and its 200 day moving average is $21.54. The company has a market capitalization of $40.32 billion, a P/E ratio of 38.24, a PEG ratio of 2.02 and a beta of 1.46. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. 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 (NYSE:KVUE) last released its earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm 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%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.31 earnings per share. On average, equities research analysts predict that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.205 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.90%. Kenvue’s dividend payout ratio is currently 149.09%.

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.