Clearbridge Investments LLC Sells 4,656,428 Shares of Kenvue Inc. (NYSE:KVUE)

by · The Markets Daily

Clearbridge Investments LLC lowered its position in shares of Kenvue Inc. (NYSE:KVUE – Free Report) by 98.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 62,420 shares of the company’s stock after selling 4,656,428 shares during the quarter. Clearbridge Investments LLC’s holdings in Kenvue were worth $1,333,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Grove Bank & Trust grew its holdings in shares of Kenvue by 438.4% in the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock valued at $25,000 after buying an additional 947 shares during the period. Geneos Wealth Management Inc. acquired a new position in Kenvue in the fourth quarter valued at about $29,000. SRS Capital Advisors Inc. increased its holdings in shares of Kenvue by 67.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after acquiring an additional 571 shares in the last quarter. Fortitude Family Office LLC raised its position in shares of Kenvue by 106.6% during the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock worth $32,000 after purchasing an additional 777 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Kenvue by 300.8% during the 4th quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock valued at $41,000 after purchasing an additional 1,441 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KVUE. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and lowered their target price for the stock from $25.00 to $24.00 in a research note on Thursday, December 12th. Barclays boosted their price objective on shares of Kenvue from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Thursday, March 27th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 target price on shares of Kenvue in a research note on Monday, February 3rd. Citigroup dropped their price target on Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Finally, Canaccord Genuity Group upped their price objective on Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $24.00.

Get Our Latest Stock Analysis on Kenvue

Kenvue Stock Down 0.9 %

KVUE stock opened at $23.65 on Friday. The company has a market cap of $45.19 billion, a price-to-earnings ratio of 44.61, a P/E/G ratio of 2.62 and a beta of 1.25. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. The business has a 50 day moving average price of $22.56 and a two-hundred day moving average price of $22.48. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE – Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were paid a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 annualized dividend and a yield of 3.47%. Kenvue’s dividend payout ratio (DPR) is currently 154.72%.

Kenvue Company Profile

(Free Report)

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.

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