DAVENPORT & Co LLC Sells 186,412 Shares of Kenvue Inc. $KVUE

DAVENPORT & Co LLC trimmed its position in shares of Kenvue Inc. (NYSE:KVUE) by 47.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 205,607 shares of the company’s stock after selling 186,412 shares during the period. DAVENPORT & Co LLC’s holdings in Kenvue were worth $3,349,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KVUE. Norges Bank bought a new stake in shares of Kenvue during the second quarter valued at approximately $537,418,000. Independent Franchise Partners LLP lifted its position in Kenvue by 233.4% during the second quarter. Independent Franchise Partners LLP now owns 31,265,574 shares of the company’s stock valued at $654,388,000 after buying an additional 21,886,537 shares during the period. Third Point LLC purchased a new position in Kenvue during the first quarter valued at $213,422,000. Maverick Capital Ltd. bought a new stake in shares of Kenvue during the 1st quarter valued at $203,036,000. Finally, American Century Companies Inc. grew its position in shares of Kenvue by 38.6% in the 2nd quarter. American Century Companies Inc. now owns 30,265,020 shares of the company’s stock worth $633,447,000 after buying an additional 8,436,166 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KVUE. Evercore ISI set a $18.00 price target on shares of Kenvue in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Kenvue in a report on Tuesday, October 14th. JPMorgan Chase & Co. cut their price target on Kenvue from $24.00 to $21.00 and set an “overweight” rating on the stock in a research note on Friday, October 10th. Citigroup lowered their price objective on Kenvue from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Thursday, October 9th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $15.00 target price (down from $26.00) on shares of Kenvue in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $20.23.

Kenvue Stock Performance

Shares of KVUE opened at $17.20 on Friday. The company has a market cap of $32.95 billion, a price-to-earnings ratio of 22.93 and a beta of 0.60. The business’s fifty day simple moving average is $16.44 and its two-hundred day simple moving average is $18.73. Kenvue Inc. has a 12 month low of $14.02 and a 12 month high of $25.17. The company has a current ratio of 0.98, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a return on equity of 20.02% and a net margin of 9.55%.The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the prior year, the company posted $0.28 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. Research analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Wednesday, November 12th were issued a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend was Wednesday, November 12th. Kenvue’s dividend payout ratio (DPR) is presently 110.67%.

Insider Activity at Kenvue

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 stock was purchased at an average cost of $17.37 per share, with a total value of $55,584,000.00. Following the completion of the acquisition, the director directly owned 27,307,632 shares of the company’s stock, valued at approximately $474,333,567.84. This trade represents a 13.27% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.68% of the stock is owned by corporate insiders.

Kenvue Company 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.