Parthenon LLC Sells 10,518 Shares of Kenvue Inc. (NYSE:KVUE)

Parthenon LLC trimmed its position in shares of Kenvue Inc. (NYSE:KVUE) by 8.4% in the fourth quarter, Holdings Channel reports. The fund owned 115,283 shares of the company’s stock after selling 10,518 shares during the quarter. Parthenon LLC’s holdings in Kenvue were worth $2,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Alberta Investment Management Corp raised its stake in Kenvue by 23.2% during the 4th quarter. Alberta Investment Management Corp now owns 582,895 shares of the company’s stock valued at $12,445,000 after purchasing an additional 109,700 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of Kenvue by 651.0% during the fourth quarter. Global Retirement Partners LLC now owns 39,365 shares of the company’s stock valued at $840,000 after buying an additional 34,123 shares during the last quarter. Lorne Steinberg Wealth Management Inc. lifted its stake in shares of Kenvue by 3.1% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 186,280 shares of the company’s stock valued at $3,977,000 after buying an additional 5,650 shares during the period. New York State Common Retirement Fund grew its position in Kenvue by 26.3% during the fourth quarter. New York State Common Retirement Fund now owns 2,811,743 shares of the company’s stock worth $60,031,000 after buying an additional 585,420 shares in the last quarter. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Kenvue during the fourth quarter valued at about $128,000. Institutional investors own 97.64% of the company’s stock.

Kenvue Trading Up 1.2 %

Shares of KVUE opened at $22.26 on Thursday. 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 $42.68 billion, a price-to-earnings ratio of 42.00, a PEG ratio of 2.57 and a beta of 1.45. The stock has a fifty day moving average price of $21.28 and a two-hundred day moving average price of $22.14. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46.

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

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a dividend of $0.205 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.68%. Kenvue’s payout ratio is 154.72%.

Wall Street Analysts Forecast Growth

KVUE has been the subject of a number of research reports. Barclays reduced their price objective on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Canaccord Genuity Group decreased their price target on shares of Kenvue from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. UBS Group lowered 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. Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 target price on shares of Kenvue in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.00.

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.