Meridian Financial Partners LLC Cuts Holdings in Kenvue Inc. (NYSE:KVUE)

Meridian Financial Partners LLC lowered its position in Kenvue Inc. (NYSE:KVUE) by 15.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,218 shares of the company’s stock after selling 5,383 shares during the period. Meridian Financial Partners LLC’s holdings in Kenvue were worth $624,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Riverview Trust Co purchased a new stake in Kenvue in the 3rd quarter worth $30,000. Fortitude Family Office LLC grew its position in shares of Kenvue by 106.6% in the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after purchasing an additional 777 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Kenvue during the third quarter worth about $35,000. Versant Capital Management Inc increased its stake in shares of Kenvue by 300.8% during the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after purchasing an additional 1,441 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators raised its position in shares of Kenvue by 49.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after purchasing an additional 651 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KVUE has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. Bank of America lifted their price target on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Barclays upgraded Kenvue to a “hold” rating in a research report on Thursday, December 12th. Royal Bank of Canada upgraded Kenvue from a “hold” rating to a “moderate buy” rating in a report on Monday, December 9th. Finally, Jefferies Financial Group assumed coverage on shares of Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price on the stock. 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’s stock. According to MarketBeat.com, Kenvue has an average rating of “Hold” and an average price target of $23.09.

Kenvue Stock Up 0.4 %

KVUE stock opened at $21.06 on Wednesday. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.46. The firm has a market cap of $40.38 billion, a PE ratio of 38.29, a PEG ratio of 2.02 and a beta of 1.46. The firm’s 50 day moving average price is $22.54 and its 200-day moving average price is $21.65. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, equities research analysts anticipate that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

Kenvue Company 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.