Mackenzie Financial Corp Sells 3,099,080 Shares of Kenvue Inc. (NYSE:KVUE)

Mackenzie Financial Corp lowered its stake in Kenvue Inc. (NYSE:KVUE) by 88.9% in the fourth quarter, Holdings Channel reports. The fund owned 386,450 shares of the company’s stock after selling 3,099,080 shares during the quarter. Mackenzie Financial Corp’s holdings in Kenvue were worth $8,320,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in KVUE. Clearstead Advisors LLC bought a new position in shares of Kenvue in the third quarter worth about $25,000. Planned Solutions Inc. bought a new position in shares of Kenvue in the fourth quarter worth about $27,000. AdvisorNet Financial Inc bought a new position in Kenvue in the 3rd quarter valued at approximately $28,000. Global Retirement Partners LLC bought a new position in Kenvue in the 3rd quarter valued at approximately $28,000. Finally, Venturi Wealth Management LLC bought a new position in Kenvue in the 3rd quarter valued at approximately $28,000. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of KVUE stock opened at $19.58 on Friday. Kenvue Inc. has a 52 week low of $17.82 and a 52 week high of $27.80. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average of $19.84 and a 200-day moving average of $20.16.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.28 by $0.03. The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.78 billion. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. Sell-side analysts predict that Kenvue Inc. will post 1.15 earnings per share for the current year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend was Tuesday, February 13th.

Wall Street Analysts Forecast Growth

KVUE has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price objective on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, February 9th. Royal Bank of Canada dropped their price objective on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, February 9th. 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 objective for the company. William Blair initiated coverage on shares of Kenvue in a report on Wednesday, April 3rd. They issued a “market perform” rating for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Kenvue in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $24.85.

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.