TD Asset Management Inc Sells 1,931,369 Shares of Kenvue Inc. $KVUE

TD Asset Management Inc reduced its position in Kenvue Inc. (NYSE:KVUE) by 72.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 719,665 shares of the company’s stock after selling 1,931,369 shares during the period. TD Asset Management Inc’s holdings in Kenvue were worth $11,680,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Salomon & Ludwin LLC bought a new stake in Kenvue in the 3rd quarter worth approximately $25,000. NBT Bank N A NY grew its holdings in shares of Kenvue by 180.3% in the third quarter. NBT Bank N A NY now owns 1,564 shares of the company’s stock valued at $25,000 after purchasing an additional 1,006 shares in the last quarter. Cornerstone Planning Group LLC increased its position in Kenvue by 705.2% in the third quarter. Cornerstone Planning Group LLC now owns 1,554 shares of the company’s stock worth $25,000 after purchasing an additional 1,361 shares during the last quarter. Golden State Wealth Management LLC increased its position in 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 during the last quarter. Finally, Trust Co. of Vermont raised its stake in Kenvue by 50.9% during the third 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 in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

Shares of KVUE stock opened at $19.11 on Monday. The stock has a 50 day moving average price of $17.72 and a 200 day moving average price of $17.50. Kenvue Inc. has a 52-week low of $14.02 and a 52-week high of $25.17. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.96. The firm has a market capitalization of $36.62 billion, a P/E ratio of 24.81, a P/E/G ratio of 4.38 and a beta of 0.59.

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

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th were paid a $0.2075 dividend. This represents a $0.83 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Wednesday, February 11th. Kenvue’s dividend payout ratio (DPR) is currently 107.79%.

Analyst Ratings Changes

A number of brokerages have commented on KVUE. Jefferies Financial Group cut shares of Kenvue from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $23.00 to $18.00 in a research note on Friday, January 30th. Edward Jones downgraded shares of Kenvue from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Barclays lifted their price target on Kenvue from $17.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. UBS Group raised their price objective on Kenvue from $17.00 to $19.00 and gave the company a “neutral” rating in a research note on Wednesday, February 18th. Finally, Citigroup boosted their target price on Kenvue from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $19.50.

Insiders Place Their Bets

In related news, Director Jeffrey C. Smith acquired 3,200,000 shares of the stock in a transaction on Friday, December 12th. The stock was bought at an average cost of $17.37 per share, with a total value of $55,584,000.00. Following the transaction, the director directly owned 27,307,632 shares in the company, valued at approximately $474,333,567.84. This represents a 13.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.68% of the stock is owned by insiders.

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.