Accent Capital Management LLC Sells 19,336 Shares of Kenvue Inc. (NYSE:KVUE)

Accent Capital Management LLC decreased its stake in shares of Kenvue Inc. (NYSE:KVUE) by 69.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,586 shares of the company’s stock after selling 19,336 shares during the quarter. Accent Capital Management LLC’s holdings in Kenvue were worth $199,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Riverview Trust Co bought a new position in shares of Kenvue in the 3rd quarter worth $30,000. Ashton Thomas Securities LLC bought a new stake in Kenvue during the 3rd quarter worth approximately $35,000. Deseret Mutual Benefit Administrators raised its stake in shares of Kenvue by 49.7% in the third 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. Studio Investment Management LLC lifted its holdings in shares of Kenvue by 52.1% in the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after purchasing an additional 845 shares in the last quarter. Finally, AlphaMark Advisors LLC bought a new position in Kenvue during the 3rd quarter valued at $77,000. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of NYSE KVUE opened at $23.82 on Friday. The stock’s 50-day moving average is $22.77 and its 200 day moving average is $20.69. The stock has a market cap of $45.67 billion, a price-to-earnings ratio of 43.31, a P/E/G ratio of 2.16 and a beta of 1.36. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.13. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last issued its quarterly 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 business had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the business earned $0.31 earnings per share. On average, sell-side analysts anticipate that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Announces Dividend

The firm 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 3.44%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s payout ratio is presently 149.09%.

Analysts Set New Price Targets

KVUE has been the subject of several recent analyst reports. UBS Group upped their target price on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Jefferies Financial Group started coverage on shares of Kenvue in a report on Tuesday, September 24th. They issued 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 price objective for the company. in a report on Tuesday, September 24th. Piper Sandler boosted their target price on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, Bank of America raised their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Kenvue presently has a consensus rating of “Hold” and an average target price of $22.64.

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.