Palouse Capital Management Inc. Decreases Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Palouse Capital Management Inc. decreased its holdings in Kenvue Inc. (NYSE:KVUE) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 87,090 shares of the company’s stock after selling 3,467 shares during the quarter. Palouse Capital Management Inc.’s holdings in Kenvue were worth $1,875,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of KVUE. Citigroup Inc. purchased a new position in Kenvue in the 2nd quarter worth about $57,000. Osaic Holdings Inc. purchased a new stake in shares of Kenvue during the 2nd quarter valued at about $144,000. Northern Trust Corp purchased a new stake in shares of Kenvue during the 2nd quarter valued at about $1,244,000. PNC Financial Services Group Inc. purchased a new stake in shares of Kenvue during the 2nd quarter valued at about $73,000. Finally, BlackRock Inc. purchased a new stake in shares of Kenvue during the 2nd quarter valued at about $164,895,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

NYSE:KVUE remained flat at $19.58 during midday trading on Friday. The company had a trading volume of 9,504,809 shares, compared to its average volume of 16,610,629. The firm has a 50-day moving average price of $19.83 and a two-hundred day moving average price of $20.16. Kenvue Inc. has a one year low of $17.82 and a one year high of $27.80. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.12.

Kenvue (NYSE:KVUE) last released 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. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.78 billion. The business’s revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Kenvue Inc. will post 1.15 earnings per share for the current year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.80 dividend on an annualized basis and a yield of 4.09%.

Wall Street Analysts Forecast Growth

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

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.