Lorne Steinberg Wealth Management Inc. Trims Stake in Kenvue Inc. $KVUE

Lorne Steinberg Wealth Management Inc. reduced its position in Kenvue Inc. (NYSE:KVUE) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,070 shares of the company’s stock after selling 1,225 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in Kenvue were worth $3,915,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. raised its position in Kenvue by 4.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 106,140 shares of the company’s stock worth $2,545,000 after purchasing an additional 4,034 shares during the period. Renaissance Capital LLC raised its position in Kenvue by 8.3% in the 2nd quarter. Renaissance Capital LLC now owns 629,177 shares of the company’s stock worth $13,169,000 after purchasing an additional 48,267 shares during the period. Farther Finance Advisors LLC raised its position in Kenvue by 80.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 36,196 shares of the company’s stock worth $758,000 after purchasing an additional 16,164 shares during the period. Arlington Partners LLC purchased a new stake in Kenvue in the 2nd quarter worth about $2,110,000. Finally, Cornell Pochily Investment Advisors Inc. raised its position in Kenvue by 144.6% in the 2nd quarter. Cornell Pochily Investment Advisors Inc. now owns 33,173 shares of the company’s stock worth $694,000 after purchasing an additional 19,609 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Bank of America reduced their price objective on shares of Kenvue from $25.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Redburn Partners set a $22.00 target price on shares of Kenvue in a research report on Friday, September 26th. Zacks Research raised shares of Kenvue to a “strong sell” rating in a research report on Monday, August 11th. Canaccord Genuity Group reduced their target price on shares of Kenvue from $29.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. Finally, Evercore ISI reduced their target price on shares of Kenvue from $23.00 to $18.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $21.18.

Kenvue Stock Performance

Shares of KVUE stock opened at $15.30 on Monday. The firm has a market cap of $29.37 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 2.20 and a beta of 0.72. The company’s 50 day moving average is $18.54 and its 200 day moving average is $21.02. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 52-week low of $14.05 and a 52-week high of $25.17.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.94 billion. Kenvue had a net margin of 9.37% and a return on equity of 20.06%. Kenvue’s revenue was down 4.0% compared to the same quarter last year. During the same period last year, the company posted $0.32 earnings per share. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. On average, sell-side analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were issued a dividend of $0.2075 per share. The ex-dividend date of this dividend was Wednesday, August 13th. This is a positive change from Kenvue’s previous quarterly dividend of $0.21. This represents a $0.83 annualized dividend and a yield of 5.4%. Kenvue’s dividend payout ratio is 112.16%.

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.