Avidity Partners Management LP Sells 32,400 Shares of Kenvue Inc. $KVUE

Avidity Partners Management LP lessened its stake in Kenvue Inc. (NYSE:KVUE) by 12.2% in the fourth quarter, HoldingsChannel reports. The fund owned 232,800 shares of the company’s stock after selling 32,400 shares during the period. Kenvue makes up about 1.2% of Avidity Partners Management LP’s portfolio, making the stock its 17th biggest position. Avidity Partners Management LP’s holdings in Kenvue were worth $4,016,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Elyxium Wealth LLC bought a new stake in shares of Kenvue in the 4th quarter valued at about $26,000. Physician Wealth Advisors Inc. lifted its stake in shares of Kenvue by 67.5% in 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 last quarter. SBI Securities Co. Ltd. lifted its stake in shares of Kenvue by 82.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company’s stock valued at $39,000 after acquiring an additional 1,027 shares during the last quarter. Leonteq Securities AG bought a new stake in shares of Kenvue in the 4th quarter valued at about $45,000. Finally, Hantz Financial Services Inc. lifted its stake in shares of Kenvue by 157.2% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,850 shares of the company’s stock valued at $46,000 after acquiring an additional 1,742 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Insider Activity

In other news, General Counsel Matthew Orlando sold 38,491 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $17.66, for a total value of $679,751.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.59% of the company’s stock.

Analysts Set New Price Targets

KVUE has been the subject of a number of recent research reports. Barclays lowered their target price on Kenvue from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 14th. Canaccord Genuity Group boosted their target price on Kenvue from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday, February 18th. UBS Group lowered their price target on Kenvue from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Weiss Ratings lowered Kenvue from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. Finally, Citigroup lowered their price target on Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $19.33.

Kenvue Trading Up 0.3%

KVUE opened at $18.13 on Friday. The business has a 50 day simple moving average of $17.43 and a two-hundred day simple moving average of $17.53. The firm has a market capitalization of $34.80 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 1.38 and a beta of 0.54. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.70. Kenvue Inc. has a one year low of $14.02 and a one year high of $22.87.

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

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th were given a $0.2075 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.83 annualized dividend and a dividend yield of 4.6%. Kenvue’s dividend payout ratio is currently 97.65%.

Kenvue Company 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.