Troy Asset Management Ltd Trims Position in Kenvue Inc. (NYSE:KVUE)

Troy Asset Management Ltd trimmed its position in Kenvue Inc. (NYSE:KVUE) by 26.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,045,436 shares of the company’s stock after selling 368,458 shares during the quarter. Kenvue makes up approximately 0.7% of Troy Asset Management Ltd’s portfolio, making the stock its 27th biggest holding. Troy Asset Management Ltd owned approximately 0.05% of Kenvue worth $22,320,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Handelsbanken Fonder AB grew its position in Kenvue by 2.9% during the fourth quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company’s stock worth $15,846,000 after buying an additional 21,222 shares in the last quarter. Alberta Investment Management Corp grew its holdings in shares of Kenvue by 23.2% during the fourth quarter. Alberta Investment Management Corp now owns 582,895 shares of the company’s stock worth $12,445,000 after purchasing an additional 109,700 shares in the last quarter. Longbow Finance SA increased its position in shares of Kenvue by 5.0% in the fourth quarter. Longbow Finance SA now owns 280,568 shares of the company’s stock worth $5,990,000 after purchasing an additional 13,287 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in Kenvue by 143.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 47,938 shares of the company’s stock valued at $1,023,000 after purchasing an additional 28,216 shares in the last quarter. Finally, CORDA Investment Management LLC. lifted its position in Kenvue by 1.4% during the fourth quarter. CORDA Investment Management LLC. now owns 1,253,096 shares of the company’s stock valued at $26,754,000 after purchasing an additional 17,466 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on KVUE. Deutsche Bank Aktiengesellschaft lowered shares of Kenvue from a “buy” rating to a “hold” rating and decreased their price target for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. 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 note on Friday, February 7th. Citigroup reduced their price objective on Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 price objective on shares of Kenvue in a report on Monday, February 3rd. Finally, Piper Sandler increased their price target on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $24.00.

Kenvue Price Performance

KVUE opened at $23.74 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The stock has a market capitalization of $45.36 billion, a PE ratio of 44.78, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. The stock’s 50 day moving average price is $22.32 and its 200-day moving average price is $22.46. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.26 EPS 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%. On average, equities research analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.45%. Kenvue’s dividend payout ratio (DPR) is 154.72%.

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.