Exchange Capital Management Inc. Sells 1,797 Shares of Kenvue Inc. (NYSE:KVUE)

Exchange Capital Management Inc. reduced its stake in shares of Kenvue Inc. (NYSE:KVUE) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 192,770 shares of the company’s stock after selling 1,797 shares during the quarter. Exchange Capital Management Inc.’s holdings in Kenvue were worth $4,116,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Huntington National Bank grew its holdings in Kenvue by 26.5% during the third quarter. Huntington National Bank now owns 4,161 shares of the company’s stock worth $96,000 after acquiring an additional 871 shares during the period. ING Groep NV grew its stake in shares of Kenvue by 23.6% in the third quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock valued at $82,727,000 after buying an additional 681,954 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Kenvue by 2.9% during the 4th quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company’s stock worth $15,846,000 after purchasing an additional 21,222 shares in the last quarter. Alberta Investment Management Corp boosted its position in shares of Kenvue by 23.2% during the 4th quarter. Alberta Investment Management Corp now owns 582,895 shares of the company’s stock worth $12,445,000 after acquiring an additional 109,700 shares in the last quarter. Finally, Empower Advisory Group LLC purchased a new stake in shares of Kenvue in the 4th quarter valued at about $48,252,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Stock Performance

NYSE:KVUE opened at $23.33 on Tuesday. Kenvue Inc. has a 12-month low of $17.67 and a 12-month 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 firm has a market capitalization of $44.72 billion, a PE ratio of 44.01, a price-to-earnings-growth ratio of 2.62 and a beta of 1.45. The firm has a 50-day moving average price of $21.33 and a 200 day moving average price of $22.21.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Research analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be paid a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.82 annualized dividend and a dividend yield of 3.52%. Kenvue’s dividend payout ratio (DPR) is currently 154.72%.

Analyst Ratings Changes

Several analysts have recently commented on KVUE shares. Barclays reduced their price target on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Piper Sandler raised their price objective on Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday. Canaccord Genuity Group dropped their price objective on Kenvue from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, February 7th. UBS Group dropped their price target on Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, February 7th. Finally, 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.08.

About Kenvue

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.