Troy Asset Management Ltd Lowers Stake in Kenvue Inc. (NYSE:KVUE)

Troy Asset Management Ltd lessened its holdings in Kenvue Inc. (NYSE:KVUE) by 26.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,045,436 shares of the company’s stock after selling 368,458 shares during the quarter. Kenvue comprises about 0.7% of Troy Asset Management Ltd’s portfolio, making the stock its 27th largest holding. Troy Asset Management Ltd’s holdings in Kenvue were worth $22,320,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new position in Kenvue in the 4th quarter worth about $521,348,000. State Street Corp raised its holdings in Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after buying an additional 18,283,473 shares during the last quarter. Boston Partners lifted its stake in shares of Kenvue by 36.9% in the fourth quarter. Boston Partners now owns 23,595,963 shares of the company’s stock worth $503,145,000 after buying an additional 6,366,097 shares in the last quarter. Holocene Advisors LP grew its holdings in shares of Kenvue by 75.5% during the third quarter. Holocene Advisors LP now owns 13,886,454 shares of the company’s stock valued at $321,194,000 after buying an additional 5,975,392 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Kenvue during the fourth quarter valued at approximately $98,926,000. Institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on KVUE shares. Canaccord Genuity Group upped their price objective on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Barclays upped their price target on Kenvue from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Thursday. Piper Sandler boosted their target price on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. UBS Group dropped their price target on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, February 7th. Finally, Evercore ISI started coverage on shares of Kenvue in a report on Monday, March 24th. They set an “in-line” rating and a $25.00 price objective for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.00.

Kenvue Price Performance

Shares of Kenvue stock opened at $23.74 on Friday. The stock has a market cap of $45.36 billion, a P/E ratio of 44.78, a P/E/G ratio of 2.62 and a beta of 1.25. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The stock’s fifty day moving average is $22.32 and its 200 day moving average is $22.46. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.46.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Sell-side analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue’s dividend payout ratio is currently 154.72%.

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.