Northeast Investment Management Reduces Position in Kenvue Inc. (NYSE:KVUE)

Northeast Investment Management decreased its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 51.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,663 shares of the company’s stock after selling 44,500 shares during the quarter. Northeast Investment Management’s holdings in Kenvue were worth $999,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of KVUE. SRS Capital Advisors Inc. grew its holdings in shares of Kenvue by 67.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock valued at $30,000 after purchasing an additional 571 shares during the period. Asset Planning Inc purchased a new stake in shares of Kenvue in the fourth quarter valued at about $42,000. Clarity Asset Management Inc. purchased a new stake in shares of Kenvue in the fourth quarter valued at about $45,000. SBI Securities Co. Ltd. purchased a new position in Kenvue during the fourth quarter worth about $46,000. Finally, Deseret Mutual Benefit Administrators boosted its stake in Kenvue by 29.0% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company’s stock worth $54,000 after buying an additional 568 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on KVUE shares. Canaccord Genuity Group increased their target price on shares of Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Evercore ISI started coverage on shares of Kenvue in a research note on Monday, March 24th. They set an “in-line” rating and a $25.00 target price for the company. Citigroup increased their target price on shares of Kenvue from $22.00 to $24.50 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Redburn Atlantic started coverage on shares of Kenvue in a research note on Thursday, April 10th. They set a “neutral” rating and a $23.50 target price for the company. Finally, UBS Group increased their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $25.33.

Kenvue Stock Up 1.0%

Shares of KVUE opened at $21.51 on Wednesday. The stock has a market capitalization of $41.26 billion, a PE ratio of 40.58, a P/E/G ratio of 2.62 and a beta of 0.98. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $25.17. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The company’s 50-day simple moving average is $23.03 and its 200-day simple moving average is $22.54.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The firm had revenue of $3.74 billion for 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 earnings per share. Analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were issued a $0.205 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.82 annualized dividend and a yield of 3.81%. Kenvue’s dividend payout ratio (DPR) is 149.09%.

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.