Sio Capital Management LLC Sells 10,259 Shares of Kenvue Inc. (NYSE:KVUE)

Sio Capital Management LLC trimmed its holdings in Kenvue Inc. (NYSE:KVUE) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 474,741 shares of the company’s stock after selling 10,259 shares during the quarter. Kenvue makes up about 4.4% of Sio Capital Management LLC’s holdings, making the stock its 6th biggest position. Sio Capital Management LLC’s holdings in Kenvue were worth $10,981,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Advisors Asset Management Inc. purchased a new position in Kenvue in the 1st quarter valued at $206,000. Janus Henderson Group PLC boosted its holdings in shares of Kenvue by 53.7% in the first quarter. Janus Henderson Group PLC now owns 165,162 shares of the company’s stock valued at $3,541,000 after acquiring an additional 57,679 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Kenvue by 47.5% during the first quarter. Tidal Investments LLC now owns 131,764 shares of the company’s stock worth $2,828,000 after acquiring an additional 42,418 shares during the period. LRI Investments LLC purchased a new position in Kenvue during the first quarter worth about $106,000. Finally, Swedbank AB acquired a new stake in Kenvue in the first quarter valued at about $27,856,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on KVUE. JPMorgan Chase & Co. increased their target price on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. UBS Group increased their target price on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target on the stock. in a report on Tuesday, September 24th. Bank of America raised their price objective on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $22.64.

Kenvue Price Performance

Kenvue stock opened at $24.13 on Friday. 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 company has a market cap of $46.26 billion, a price-to-earnings ratio of 43.87, a PEG ratio of 2.19 and a beta of 1.36. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $24.46. The firm has a 50 day moving average price of $22.92 and a 200 day moving average price of $20.96.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 earnings per share. Sell-side analysts predict that Kenvue Inc. will post 1.07 earnings per share for the current year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.205 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.40%. Kenvue’s dividend 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.