Envestnet Portfolio Solutions Inc. Cuts Holdings in Kenvue Inc. (NYSE:KVUE)

Envestnet Portfolio Solutions Inc. lowered its holdings in Kenvue Inc. (NYSE:KVUE) by 38.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 299,336 shares of the company’s stock after selling 188,922 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Kenvue were worth $7,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its holdings in shares of Kenvue by 3.5% during the 4th 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 buying an additional 8,211,748 shares during the period. Vanguard Group Inc. increased its position in Kenvue by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 218,543,705 shares of the company’s stock valued at $4,665,908,000 after acquiring an additional 1,636,741 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Kenvue by 12.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company’s stock valued at $2,085,070,000 after acquiring an additional 10,682,003 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Kenvue by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 46,068,931 shares of the company’s stock valued at $980,989,000 after acquiring an additional 1,391,854 shares during the period. Finally, Franklin Resources Inc. boosted its position in Kenvue by 61.5% in the fourth quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company’s stock worth $912,059,000 after purchasing an additional 16,269,721 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Trading Up 0.1%

Shares of KVUE stock opened at $21.39 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 0.86. The stock has a fifty day simple moving average of $23.00 and a two-hundred day simple moving average of $22.43. The firm has a market capitalization of $41.03 billion, a PE ratio of 38.88, a PEG ratio of 3.32 and a beta of 0.98. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $25.17.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. Kenvue had a return on equity of 20.87% and a net margin of 6.90%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.28 earnings per share. On average, analysts predict that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.83%. The ex-dividend date of this dividend was Wednesday, May 14th. Kenvue’s payout ratio is currently 149.09%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KVUE. Redburn Atlantic assumed coverage on shares of Kenvue in a research report on Thursday, April 10th. They set a “neutral” rating and a $23.50 price target for the company. Evercore ISI initiated coverage on shares of Kenvue in a report on Monday, March 24th. They set an “in-line” rating and a $25.00 target price for the company. Barclays increased their price target on shares of Kenvue from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. UBS Group boosted their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, May 9th. Finally, Canaccord Genuity Group upped their price objective on Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Kenvue presently has a consensus rating of “Hold” and an average price target of $25.33.

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.