Cullen Capital Management LLC Decreases Stock Position in Kenvue Inc. (NYSE:KVUE)

Cullen Capital Management LLC decreased its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 2.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,100,496 shares of the company’s stock after selling 185,517 shares during the period. Kenvue accounts for approximately 2.2% of Cullen Capital Management LLC’s holdings, making the stock its 19th biggest holding. Cullen Capital Management LLC’s holdings in Kenvue were worth $194,296,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of KVUE. Norges Bank purchased a new stake in Kenvue during the 4th quarter worth approximately $521,348,000. State Street Corp lifted its stake in shares of Kenvue by 16.8% during 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. Franklin Resources Inc. grew its holdings in shares of Kenvue by 61.5% during the fourth quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company’s stock valued at $912,059,000 after buying an additional 16,269,721 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Kenvue by 12.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company’s stock valued at $2,085,070,000 after acquiring an additional 10,682,003 shares during the period. Finally, Boston Partners lifted its position in Kenvue by 36.9% during the 4th quarter. Boston Partners now owns 23,595,963 shares of the company’s stock worth $503,145,000 after acquiring an additional 6,366,097 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft cut 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 research note on Thursday, December 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 price target on shares of Kenvue in a research report on Monday, February 3rd. Canaccord Genuity Group upped their price objective on shares of Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Barclays raised their target price on shares of Kenvue from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Thursday, March 27th. Finally, Piper Sandler upped their price target on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, February 24th. One research 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, the company presently has an average rating of “Hold” and an average price target of $24.00.

Kenvue Price Performance

NYSE:KVUE opened at $22.33 on Friday. The stock has a market capitalization of $42.68 billion, a PE ratio of 42.14, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. Kenvue Inc. has a 52 week low of $17.67 and a 52 week 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. The stock’s 50-day moving average price is $22.59 and its 200-day moving average price is $22.47.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.26 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 expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue’s payout ratio is 154.72%.

Kenvue 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.