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

Gates Capital Management Inc. lowered its stake in shares of Kenvue Inc. (NYSE:KVUE) by 16.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,460,529 shares of the company’s stock after selling 1,074,552 shares during the quarter. Kenvue makes up approximately 2.2% of Gates Capital Management Inc.’s portfolio, making the stock its 13th largest holding. Gates Capital Management Inc. owned about 0.28% of Kenvue worth $116,582,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Kenvue in the 4th quarter valued at about $521,348,000. Franklin Resources Inc. lifted its position in shares of Kenvue by 61.5% during the fourth quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company’s stock worth $912,059,000 after acquiring an additional 16,269,721 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Kenvue by 12.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company’s stock worth $2,085,070,000 after purchasing an additional 10,682,003 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Kenvue by 3.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company’s stock valued at $5,249,665,000 after acquiring an additional 8,211,748 shares during the period. Finally, Boston Partners increased its holdings in shares of Kenvue by 36.9% in the fourth quarter. Boston Partners now owns 23,595,963 shares of the company’s stock worth $503,145,000 after purchasing an additional 6,366,097 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

NYSE KVUE opened at $24.47 on Friday. The stock has a market capitalization of $46.95 billion, a price-to-earnings ratio of 46.17, a PEG ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $25.17. The business’s fifty day moving average price is $23.13 and its 200-day moving average price is $22.56.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, May 8th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.01. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The firm’s revenue was down 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 earnings per share. On average, equities analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be paid a $0.205 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.35%. Kenvue’s dividend payout ratio (DPR) is presently 154.72%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Redburn Atlantic assumed coverage on Kenvue in a report on Thursday, April 10th. They issued a “neutral” rating and a $23.50 price objective for the company. Barclays lowered their price objective on shares of Kenvue from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. UBS Group raised their price objective on Kenvue from $24.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday. Evercore ISI assumed coverage on shares of Kenvue in a research report on Monday, March 24th. They set an “in-line” rating and a $25.00 price target for the company. Finally, Citigroup upped their price objective on shares of Kenvue from $22.00 to $24.50 and gave the company a “neutral” rating in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $25.25.

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.