River Global Investors LLP Sells 2,813 Shares of Kenvue Inc. (NYSE:KVUE)

River Global Investors LLP lessened its stake in shares of Kenvue Inc. (NYSE:KVUE) by 5.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 48,031 shares of the company’s stock after selling 2,813 shares during the period. River Global Investors LLP’s holdings in Kenvue were worth $1,111,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Lorne Steinberg Wealth Management Inc. boosted its stake in shares of Kenvue by 59.0% in the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company’s stock valued at $2,812,000 after purchasing an additional 57,375 shares in the last quarter. Kennon Green & Company LLC grew its stake in Kenvue by 140.7% during the second quarter. Kennon Green & Company LLC now owns 159,106 shares of the company’s stock worth $2,893,000 after buying an additional 93,008 shares during the last quarter. Czech National Bank increased its holdings in shares of Kenvue by 20.3% during the second quarter. Czech National Bank now owns 364,886 shares of the company’s stock worth $6,634,000 after buying an additional 61,635 shares in the last quarter. Crestwood Advisors Group LLC raised its stake in shares of Kenvue by 14.8% in the second quarter. Crestwood Advisors Group LLC now owns 1,537,348 shares of the company’s stock valued at $27,950,000 after acquiring an additional 198,607 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of Kenvue by 16,051.1% in the first quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock valued at $210,600,000 after acquiring an additional 9,752,836 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Trading Up 3.1 %

Shares of Kenvue stock traded up $0.71 during trading on Friday, hitting $23.68. 16,635,437 shares of the company were exchanged, compared to its average volume of 16,248,485. The firm’s fifty day moving average price is $22.65 and its 200 day moving average price is $20.54. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $23.72. The firm has a market capitalization of $45.35 billion, a P/E ratio of 40.83, a price-to-earnings-growth ratio of 2.94 and a beta of 1.36. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $0.31 earnings per share. As a group, sell-side analysts expect that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio is presently 141.38%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Jefferies Financial Group began coverage on Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target on the stock. Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price for the company. in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft upped their price objective on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. UBS Group lifted their target price on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. raised their price target on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Kenvue presently has an average rating of “Hold” and a consensus price target of $22.64.

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.