Cary Street Partners Asset Management LLC Purchases 6,334 Shares of Kenvue Inc. (NYSE:KVUE)

Cary Street Partners Asset Management LLC lifted its position in Kenvue Inc. (NYSE:KVUE) by 4.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 166,396 shares of the company’s stock after acquiring an additional 6,334 shares during the period. Cary Street Partners Asset Management LLC’s holdings in Kenvue were worth $3,583,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KVUE. Vanguard Group Inc. bought a new stake in Kenvue during the third quarter worth about $2,944,816,000. FMR LLC lifted its position in Kenvue by 572.1% during the third quarter. FMR LLC now owns 89,182,980 shares of the company’s stock worth $1,790,794,000 after purchasing an additional 75,913,107 shares during the period. Wellington Management Group LLP lifted its position in Kenvue by 576.1% during the third quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock worth $1,439,472,000 after purchasing an additional 61,084,123 shares during the period. Massachusetts Financial Services Co. MA lifted its position in Kenvue by 227.7% during the third quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock worth $1,226,711,000 after purchasing an additional 42,449,470 shares during the period. Finally, Morgan Stanley lifted its position in Kenvue by 4,057.4% during the third quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock worth $625,745,000 after purchasing an additional 30,413,040 shares during the period. 97.64% of the stock is owned by institutional investors.

Kenvue Trading Down 0.3 %

Shares of KVUE stock traded down $0.05 during trading hours on Wednesday, hitting $18.77. 2,649,887 shares of the company were exchanged, compared to its average volume of 16,602,338. Kenvue Inc. has a fifty-two week low of $17.82 and a fifty-two week high of $27.80. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.12. The company has a 50 day simple moving average of $19.83 and a two-hundred day simple moving average of $20.13.

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

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.26%. The ex-dividend date is Tuesday, May 7th.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Kenvue in a research report on Friday, March 1st. They set a “neutral” rating and a $20.00 price objective for the company. Sanford C. Bernstein began coverage on shares of Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 target price for the company. JPMorgan Chase & Co. dropped their target price on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Royal Bank of Canada dropped their target price on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, February 9th. Finally, William Blair began coverage on shares of Kenvue in a report on Wednesday, April 3rd. They issued a “market perform” rating for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Kenvue has a consensus rating of “Hold” and a consensus target price of $24.85.

Kenvue Company 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.