Lazard Asset Management LLC Sells 925,250 Shares of Kenvue Inc. $KVUE

Lazard Asset Management LLC cut its holdings in Kenvue Inc. (NYSE:KVUE) by 17.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 4,286,035 shares of the company’s stock after selling 925,250 shares during the period. Lazard Asset Management LLC’s holdings in Kenvue were worth $73,891,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Montag A & Associates Inc. grew its stake in shares of Kenvue by 6.3% during the first quarter. Montag A & Associates Inc. now owns 10,156 shares of the company’s stock valued at $175,000 after buying an additional 600 shares during the last quarter. Cornerstone Wealth Group LLC lifted its stake in shares of Kenvue by 5.9% in the 1st quarter. Cornerstone Wealth Group LLC now owns 10,810 shares of the company’s stock valued at $187,000 after acquiring an additional 606 shares during the last quarter. Physician Wealth Advisors Inc. boosted its holdings in Kenvue by 67.5% during the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock valued at $26,000 after acquiring an additional 618 shares during the period. Mill Creek Capital Advisors LLC boosted its holdings in Kenvue by 0.6% during the 4th quarter. Mill Creek Capital Advisors LLC now owns 124,213 shares of the company’s stock valued at $2,143,000 after acquiring an additional 701 shares during the period. Finally, B & T Capital Management DBA Alpha Capital Management boosted its holdings in Kenvue by 0.3% during the 4th quarter. B & T Capital Management DBA Alpha Capital Management now owns 234,664 shares of the company’s stock valued at $4,048,000 after acquiring an additional 712 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Matthew Orlando sold 38,491 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $17.66, for a total value of $679,751.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.59% of the stock is currently owned by corporate insiders.

Kenvue Stock Performance

Kenvue stock opened at $19.43 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average of $18.42 and a 200-day moving average of $17.94. The firm has a market cap of $37.32 billion, a P/E ratio of 22.86, a P/E/G ratio of 1.46 and a beta of 0.47. Kenvue Inc. has a 1-year low of $14.02 and a 1-year high of $22.74.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. The company had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.84 billion. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.Kenvue’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.24 EPS. Sell-side analysts expect that Kenvue Inc. will post 1.16 EPS for the current year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were given a dividend of $0.2075 per share. The ex-dividend date was Wednesday, May 13th. This represents a $0.83 annualized dividend and a dividend yield of 4.3%. Kenvue’s payout ratio is currently 97.65%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. UBS Group lifted their price target on Kenvue from $18.00 to $20.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Weiss Ratings raised Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, June 15th. Barclays increased their price objective on Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 21st. Citigroup cut their target price on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, April 15th. Finally, Wall Street Zen raised shares of Kenvue to a “buy” rating in a research note on Sunday, July 12th. Three analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $19.58.

Kenvue Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.