Kenvue Inc. (NYSE:KVUE) Stock Position Reduced by Anchor Capital Advisors LLC

Anchor Capital Advisors LLC lessened its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 647,078 shares of the company’s stock after selling 20,223 shares during the period. Anchor Capital Advisors LLC’s holdings in Kenvue were worth $13,932,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in KVUE. Vanguard Group Inc. bought a new stake in Kenvue during the third quarter worth approximately $2,944,816,000. FMR LLC lifted its stake in Kenvue by 572.1% in the third quarter. FMR LLC now owns 89,182,980 shares of the company’s stock valued at $1,790,794,000 after acquiring an additional 75,913,107 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Kenvue by 576.1% in 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 in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Kenvue by 227.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock valued at $1,226,711,000 after acquiring an additional 42,449,470 shares in the last quarter. Finally, Morgan Stanley grew its stake in Kenvue by 4,057.4% in the 3rd quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock valued at $625,745,000 after buying an additional 30,413,040 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Stock Performance

Shares of NYSE:KVUE traded down $0.15 during trading on Tuesday, hitting $18.91. 2,370,692 shares of the company were exchanged, compared to its average volume of 16,469,029. Kenvue Inc. has a 52-week low of $17.82 and a 52-week high of $27.80. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average of $19.84 and a 200 day moving average of $20.14.

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

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.23%. The ex-dividend date of this dividend is Tuesday, May 7th.

Analyst Upgrades and Downgrades

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

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.