Kenvue Inc. (NYSE:KVUE) Shares Sold by Evoke Wealth LLC

Evoke Wealth LLC lessened its stake in Kenvue Inc. (NYSE:KVUE) by 39.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 18,863 shares of the company’s stock after selling 12,329 shares during the period. Evoke Wealth LLC’s holdings in Kenvue were worth $403,000 as of its most recent filing with the Securities & Exchange Commission.

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

Kenvue Price Performance

Shares of NYSE:KVUE opened at $23.49 on Thursday. The business’s 50 day simple moving average is $21.98 and its 200-day simple moving average is $22.42. The firm has a market capitalization of $44.89 billion, a price-to-earnings ratio of 44.31, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $24.46.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting 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 analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue’s payout ratio is currently 154.72%.

Wall Street Analyst Weigh In

Several research firms have issued reports on KVUE. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and dropped their target price for the stock from $25.00 to $24.00 in a research report on Thursday, December 12th. UBS Group dropped their target price on Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 target price on shares of Kenvue in a research report on Monday, February 3rd. Canaccord Genuity Group boosted their target price on Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Finally, Barclays dropped their target price on Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kenvue currently has an average rating of “Hold” and an average target price of $23.75.

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.