Wallington Asset Management LLC Trims Position in Kenvue Inc. (NYSE:KVUE)

Wallington Asset Management LLC reduced its holdings in Kenvue Inc. (NYSE:KVUE) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,019 shares of the company’s stock after selling 5,633 shares during the period. Wallington Asset Management LLC’s holdings in Kenvue were worth $4,057,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its stake in Kenvue by 2.3% during the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company’s stock worth $3,189,985,000 after purchasing an additional 3,075,019 shares during the last quarter. State Street Corp grew its position in shares of Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock valued at $2,942,458,000 after purchasing an additional 18,283,473 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Kenvue by 8.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after purchasing an additional 7,115,374 shares during the last quarter. Geode Capital Management LLC lifted its position in Kenvue by 0.9% during the third quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock worth $1,029,810,000 after buying an additional 399,846 shares in the last quarter. Finally, Harris Associates L P increased its stake in shares of Kenvue by 7.5% in the 3rd quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock worth $727,658,000 after acquiring an additional 2,186,114 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. 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 price target for the company. Royal Bank of Canada upgraded Kenvue from a “hold” rating to a “moderate buy” rating in a report on Monday, December 9th. Citigroup dropped their price target on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lowered shares of Kenvue from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. Finally, Piper Sandler raised Kenvue from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $21.00 to $26.00 in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.08.

Kenvue Trading Down 0.4 %

NYSE KVUE opened at $21.11 on Friday. The firm has a market cap of $40.46 billion, a PE ratio of 38.37, a P/E/G ratio of 1.99 and a beta of 1.46. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.46. The firm’s fifty day moving average is $22.42 and its two-hundred day moving average is $21.66. 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 announced its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period last year, the business posted $0.31 EPS. The company’s revenue was down .4% on a year-over-year basis. Analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.82 annualized dividend and a yield of 3.89%. Kenvue’s payout ratio is currently 149.09%.

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.