Sawgrass Asset Management LLC Sells 13,576 Shares of Kenvue Inc. (NYSE:KVUE)

Sawgrass Asset Management LLC lessened its position in Kenvue Inc. (NYSE:KVUE) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 447,308 shares of the company’s stock after selling 13,576 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Kenvue were worth $9,631,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Clearstead Advisors LLC bought a new position in Kenvue in the third quarter worth approximately $25,000. Planned Solutions Inc. acquired a new position in shares of Kenvue in the fourth quarter valued at about $27,000. Venturi Wealth Management LLC purchased a new position in shares of Kenvue in the third quarter worth about $28,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Kenvue during the third quarter worth about $28,000. Finally, Cullen Frost Bankers Inc. acquired a new position in Kenvue in the 3rd quarter worth approximately $29,000. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 1.8 %

KVUE traded up $0.37 during trading on Wednesday, reaching $20.45. The company’s stock had a trading volume of 23,642,579 shares, compared to its average volume of 17,121,814. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 0.78. The company’s fifty day moving average price is $19.85 and its 200-day moving average price is $20.11. Kenvue Inc. has a 52-week low of $17.82 and a 52-week high of $27.80.

Kenvue (NYSE:KVUE) last released its earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $3.79 billion. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The company’s revenue for the quarter was down 24.9% on a year-over-year basis. Research analysts forecast that Kenvue Inc. will post 1.15 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend is Tuesday, May 7th.

Analyst Ratings Changes

Several analysts recently commented on KVUE shares. William Blair initiated coverage on Kenvue in a report on Wednesday, April 3rd. They set a “market perform” rating on the stock. Sanford C. Bernstein started coverage on Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price target on the stock. JPMorgan Chase & Co. reduced their target price on Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Royal Bank of Canada reduced their target price on Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, February 9th. Finally, The Goldman Sachs Group started coverage on shares of Kenvue in a research note on Friday, March 1st. They issued a “neutral” rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.38.

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.