Wallington Asset Management LLC Cuts Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Wallington Asset Management LLC decreased its position in shares of Kenvue Inc. (NYSE:KVUE) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 195,652 shares of the company’s stock after selling 583 shares during the quarter. Wallington Asset Management LLC’s holdings in Kenvue were worth $4,525,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Leo Wealth LLC boosted its holdings in Kenvue by 0.3% in the third quarter. Leo Wealth LLC now owns 151,611 shares of the company’s stock worth $3,507,000 after purchasing an additional 481 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in Kenvue by 6.2% in the third quarter. Massmutual Trust Co. FSB ADV now owns 8,400 shares of the company’s stock worth $194,000 after purchasing an additional 492 shares during the last quarter. Wolff Wiese Magana LLC boosted its holdings in Kenvue by 0.7% in the third quarter. Wolff Wiese Magana LLC now owns 76,999 shares of the company’s stock worth $1,781,000 after purchasing an additional 501 shares during the last quarter. Marathon Capital Management boosted its holdings in Kenvue by 0.3% in the second quarter. Marathon Capital Management now owns 149,699 shares of the company’s stock worth $2,722,000 after purchasing an additional 514 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its holdings in Kenvue by 80.8% in the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after purchasing an additional 530 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Down 0.8 %

Shares of KVUE stock opened at $22.75 on Thursday. The company has a market capitalization of $43.56 billion, a price-to-earnings ratio of 29.17, a PEG ratio of 2.76 and a beta of 1.40. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.55. The company’s fifty day moving average price is $22.36 and its 200-day moving average price is $20.26. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.28 by $0.04. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company’s revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.32 EPS. Sell-side analysts expect that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be issued a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.60%. Kenvue’s dividend payout ratio is currently 105.13%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada cut shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price on the stock. in a report on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. UBS Group increased their price target on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Piper Sandler increased their price target on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, Bank of America increased their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $22.64.

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.