K.J. Harrison & Partners Inc Decreases Stake in Kenvue Inc. (NYSE:KVUE)

K.J. Harrison & Partners Inc lessened its stake in shares of Kenvue Inc. (NYSE:KVUE) by 84.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 66,348 shares of the company’s stock after selling 366,160 shares during the period. K.J. Harrison & Partners Inc’s holdings in Kenvue were worth $1,428,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of KVUE. Vanguard Group Inc. acquired a new stake in shares of Kenvue during the 3rd quarter worth approximately $2,944,816,000. FMR LLC raised its position in shares of Kenvue by 572.1% in the third quarter. FMR LLC now owns 89,182,980 shares of the company’s stock worth $1,790,794,000 after acquiring an additional 75,913,107 shares during the period. Wellington Management Group LLP boosted its stake in shares of Kenvue by 576.1% during the 3rd quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock worth $1,439,472,000 after acquiring an additional 61,084,123 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Kenvue by 227.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock valued at $1,226,711,000 after acquiring an additional 42,449,470 shares during the period. Finally, Morgan Stanley increased its stake in shares of Kenvue by 4,057.4% in the 3rd quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock valued at $625,745,000 after purchasing an additional 30,413,040 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on KVUE shares. William Blair began coverage on Kenvue in a research report on Wednesday, April 3rd. They set a “market perform” rating on the stock. Sanford C. Bernstein initiated coverage on shares of Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. The Goldman Sachs Group assumed coverage on shares of Kenvue in a research report on Friday, March 1st. They set a “neutral” rating and a $20.00 price target for the company. Finally, Royal Bank of Canada lowered their price objective on Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, February 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $24.85.

Kenvue Price Performance

KVUE traded down $0.16 during mid-day trading on Friday, hitting $18.86. 15,454,689 shares of the stock were exchanged, compared to its average volume of 13,458,618. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 0.78. The firm’s fifty day moving average is $19.84 and its two-hundred day moving average is $20.13. Kenvue Inc. has a 1-year low of $17.82 and a 1-year high of $27.80.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, February 8th. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. The business had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.78 billion. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. As a group, sell-side analysts expect that Kenvue Inc. will post 1.15 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Tuesday, May 7th.

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.