abrdn plc Sells 3,988 Shares of Kenvue Inc. (NYSE:KVUE)

abrdn plc reduced its holdings in Kenvue Inc. (NYSE:KVUE) by 2.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 160,213 shares of the company’s stock after selling 3,988 shares during the quarter. abrdn plc’s holdings in Kenvue were worth $3,449,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. purchased a new position in shares of Kenvue in the 3rd quarter valued at approximately $2,944,816,000. FMR LLC raised its holdings in Kenvue by 572.1% in the third quarter. FMR LLC now owns 89,182,980 shares of the company’s stock worth $1,790,794,000 after purchasing an additional 75,913,107 shares in the last quarter. Wellington Management Group LLP lifted its position in Kenvue by 576.1% during the third quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock valued at $1,439,472,000 after buying an additional 61,084,123 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Kenvue by 227.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock valued at $1,226,711,000 after buying an additional 42,449,470 shares in the last quarter. Finally, Morgan Stanley grew its position in shares of Kenvue by 4,057.4% in the 3rd quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock worth $625,745,000 after buying an additional 30,413,040 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Kenvue in a research report on Friday, March 1st. They set a “neutral” rating and a $20.00 price target for the company. JPMorgan Chase & Co. lowered their target price 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. Sanford C. Bernstein began coverage on Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price target on the stock. Royal Bank of Canada reduced their price objective on Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, February 9th. Finally, William Blair started coverage on Kenvue in a report on Wednesday, April 3rd. They issued a “market perform” rating on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Kenvue currently has a consensus rating of “Hold” and an average target price of $24.85.

Kenvue Stock Down 0.8 %

Kenvue stock opened at $18.86 on Monday. Kenvue Inc. has a one year low of $17.82 and a one year high of $27.80. The business’s fifty day moving average is $19.84 and its 200 day moving average is $20.14. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

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

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.24%. The ex-dividend date of this dividend is Tuesday, May 7th.

Kenvue Profile

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.