Westpac Banking Corp Sells 192,981 Shares of Kenvue Inc. $KVUE

Westpac Banking Corp decreased its stake in shares of Kenvue Inc. (NYSE:KVUE) by 88.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,302 shares of the company’s stock after selling 192,981 shares during the period. Westpac Banking Corp’s holdings in Kenvue were worth $411,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Cornerstone Planning Group LLC grew its stake in Kenvue by 705.2% in the 3rd quarter. Cornerstone Planning Group LLC now owns 1,554 shares of the company’s stock worth $25,000 after buying an additional 1,361 shares in the last quarter. NBT Bank N A NY boosted its holdings in Kenvue by 180.3% in the third quarter. NBT Bank N A NY now owns 1,564 shares of the company’s stock worth $25,000 after purchasing an additional 1,006 shares during the last quarter. Salomon & Ludwin LLC bought a new stake in shares of Kenvue during the 3rd quarter valued at $25,000. Golden State Wealth Management LLC increased its stake in shares of Kenvue by 150.1% in the third quarter. Golden State Wealth Management LLC now owns 1,983 shares of the company’s stock worth $32,000 after purchasing an additional 1,190 shares in the last quarter. Finally, Trust Co. of Vermont raised its stake in Kenvue by 50.9% during the 3rd quarter. Trust Co. of Vermont now owns 2,385 shares of the company’s stock valued at $39,000 after purchasing an additional 804 shares during the period. 97.64% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Jeffrey C. Smith acquired 3,200,000 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were purchased at an average cost of $17.37 per share, for a total transaction of $55,584,000.00. Following the acquisition, the director owned 27,307,632 shares in the company, valued at $474,333,567.84. The trade was a 13.27% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.68% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on KVUE. UBS Group upped their target price on Kenvue from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Wednesday, February 18th. Edward Jones lowered shares of Kenvue from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Barclays lifted their price target on shares of Kenvue from $17.00 to $18.00 and gave the stock an “equal weight” rating in a report on Monday, November 10th. Canaccord Genuity Group upped their price target on shares of Kenvue from $17.00 to $18.00 and gave the company a “hold” rating in a report on Wednesday, February 18th. Finally, Zacks Research raised Kenvue from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 26th. Three investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.50.

Kenvue Stock Performance

NYSE KVUE opened at $19.00 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.96 and a quick ratio of 0.69. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $25.17. The firm has a market cap of $36.42 billion, a price-to-earnings ratio of 24.68, a PEG ratio of 4.30 and a beta of 0.59. The company has a fifty day moving average price of $17.68 and a 200-day moving average price of $17.57.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Tuesday, February 17th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The company had revenue of $3.78 billion during the quarter, compared to the consensus estimate of $3.68 billion. Kenvue had a net margin of 9.72% and a return on equity of 19.72%. Kenvue’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 earnings per share. As a group, equities research analysts predict that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were issued a $0.2075 dividend. This represents a $0.83 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Wednesday, February 11th. Kenvue’s payout ratio is 107.79%.

Kenvue Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.