Orion Portfolio Solutions LLC Trims Stock Position in Kenvue Inc. (NYSE:KVUE)

Orion Portfolio Solutions LLC lessened its stake in shares of Kenvue Inc. (NYSE:KVUE) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 202,811 shares of the company’s stock after selling 11,183 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Kenvue were worth $4,691,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of KVUE. Riverview Trust Co purchased a new stake in Kenvue in the 3rd quarter valued at $30,000. Ashton Thomas Securities LLC purchased a new stake in Kenvue in the 3rd quarter valued at $35,000. Studio Investment Management LLC raised its position in Kenvue by 52.1% in the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after purchasing an additional 845 shares during the last quarter. Deseret Mutual Benefit Administrators raised its position in Kenvue by 49.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after purchasing an additional 651 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Kenvue in the 2nd quarter valued at $61,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

NYSE:KVUE opened at $22.81 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $24.46. The stock has a market cap of $43.73 billion, a PE ratio of 41.47, a price-to-earnings-growth ratio of 2.07 and a beta of 1.37. The firm’s fifty day simple moving average is $22.96 and its 200-day simple moving average is $21.13.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the company posted $0.31 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. Analysts expect that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 annualized dividend and a dividend yield of 3.59%. Kenvue’s dividend payout ratio is presently 149.09%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Bank of America upped their price target on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group began coverage on shares of Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price objective 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 price objective on the stock. in a research note on Tuesday, September 24th. JPMorgan Chase & Co. boosted their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Piper Sandler boosted their price objective on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Kenvue presently has a consensus rating of “Hold” and an average price target of $22.64.

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.