Beacon Investment Advisory Services Inc. Sells 3,290 Shares of Kenvue Inc. (NYSE:KVUE)

Beacon Investment Advisory Services Inc. cut its holdings in Kenvue Inc. (NYSE:KVUE) by 1.4% during the third quarter, Holdings Channel reports. The institutional investor owned 235,694 shares of the company’s stock after selling 3,290 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Kenvue were worth $5,452,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of KVUE. FMR LLC grew its holdings in Kenvue by 2.3% in the third 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 period. Massachusetts Financial Services Co. MA boosted its position in shares of Kenvue by 8.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock worth $2,011,832,000 after purchasing an additional 7,115,374 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Kenvue by 21.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock worth $789,813,000 after buying an additional 7,546,362 shares during the last quarter. American Century Companies Inc. increased its position in Kenvue by 20.7% during the 2nd quarter. American Century Companies Inc. now owns 27,382,644 shares of the company’s stock valued at $497,816,000 after buying an additional 4,700,697 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Kenvue by 2.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,411,207 shares of the company’s stock valued at $564,689,000 after buying an additional 547,874 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Kenvue Price Performance

KVUE stock opened at $24.08 on Monday. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The firm has a market capitalization of $46.17 billion, a P/E ratio of 43.78, a price-to-earnings-growth ratio of 2.19 and a beta of 1.36. The company has a fifty day simple moving average of $22.94 and a two-hundred day simple moving average of $20.99. 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) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The firm’s revenue was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.31 earnings per share. Analysts anticipate that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.41%. The ex-dividend date was Wednesday, November 13th. Kenvue’s payout ratio is 149.09%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on KVUE shares. 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 price objective on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Piper Sandler lifted their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target for the company. in a research report on Tuesday, September 24th. 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.