Kornitzer Capital Management Inc. KS Reduces Stake in Kenvue Inc. (NYSE:KVUE)

Kornitzer Capital Management Inc. KS trimmed its stake in Kenvue Inc. (NYSE:KVUE) by 23.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 352,805 shares of the company’s stock after selling 109,195 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Kenvue were worth $7,596,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Empirical Finance LLC purchased a new position in Kenvue in the third quarter valued at about $336,000. UniSuper Management Pty Ltd purchased a new stake in shares of Kenvue during the 3rd quarter valued at approximately $35,544,000. Howland Capital Management LLC purchased a new stake in shares of Kenvue during the 3rd quarter valued at approximately $7,764,000. Citizens Business Bank purchased a new stake in shares of Kenvue during the 3rd quarter valued at approximately $2,507,000. Finally, Fifth Third Bancorp lifted its stake in shares of Kenvue by 35.3% during the 4th quarter. Fifth Third Bancorp now owns 277,580 shares of the company’s stock valued at $5,976,000 after buying an additional 72,435 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KVUE has been the topic of a number of recent research reports. Sanford C. Bernstein initiated coverage on shares of Kenvue in a research note on Thursday, April 11th. They set an “underperform” rating and a $18.00 price target on the stock. Royal Bank of Canada dropped their price target on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, February 9th. William Blair initiated coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They set a “market perform” rating on the stock. JPMorgan Chase & Co. dropped their price target on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Finally, The Goldman Sachs Group started coverage on shares of Kenvue in a research note on Friday, March 1st. They set a “neutral” rating and a $20.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seven 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 $24.85.

Kenvue Price Performance

Shares of NYSE:KVUE remained flat at $19.58 during trading on Friday. 9,506,274 shares of the stock were exchanged, compared to its average volume of 12,499,857. The company has a 50 day moving average price of $19.84 and a two-hundred day moving average price of $20.16. Kenvue Inc. has a 1 year low of $17.82 and a 1 year high of $27.80. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 0.78.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.78 billion. The company’s revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts anticipate that Kenvue Inc. will post 1.15 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Tuesday, February 13th.

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.