Kenvue Inc. (NYSE:KVUE) Shares Sold by Griffin Asset Management Inc.

Griffin Asset Management Inc. reduced its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 4.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,392 shares of the company’s stock after selling 3,293 shares during the period. Griffin Asset Management Inc.’s holdings in Kenvue were worth $1,554,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Planned Solutions Inc. acquired a new stake in Kenvue in the fourth quarter valued at approximately $27,000. Mather Group LLC. acquired a new stake in shares of Kenvue in the 1st quarter valued at $28,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Kenvue during the fourth quarter worth $28,000. CVA Family Office LLC purchased a new position in Kenvue in the fourth quarter valued at $32,000. Finally, Pinnacle Bancorp Inc. raised its stake in Kenvue by 51.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock valued at $33,000 after buying an additional 526 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Stock Down 1.3 %

Shares of Kenvue stock traded down $0.24 during trading on Friday, reaching $18.18. The company had a trading volume of 57,323,267 shares, compared to its average volume of 21,130,516. The company has a market cap of $34.81 billion and a price-to-earnings ratio of 23.31. Kenvue Inc. has a fifty-two week low of $17.75 and a fifty-two week high of $26.66. The firm’s fifty day moving average is $19.19 and its 200-day moving average is $19.98. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.99.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.03. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.79 billion. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The firm’s quarterly revenue was down 24.9% on a year-over-year basis. On average, analysts anticipate that Kenvue Inc. will post 1.17 EPS for the current year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend was Tuesday, May 7th. Kenvue’s payout ratio is 102.56%.

Wall Street Analysts Forecast Growth

KVUE has been the subject of a number of research reports. The Goldman Sachs Group started coverage on shares of Kenvue in a research report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price target for the company. Citigroup reissued a “neutral” rating and issued a $21.00 target price on shares of Kenvue in a research report on Tuesday, May 28th. Sanford C. Bernstein began coverage on Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price target on the stock. HSBC increased their price objective on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Finally, William Blair began coverage on shares of Kenvue in a report on Wednesday, April 3rd. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.09.

Kenvue 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.