Kenvue Inc. (NYSE:KVUE) Shares Sold by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC reduced its stake in Kenvue Inc. (NYSE:KVUE) by 4.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,821 shares of the company’s stock after selling 632 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Kenvue were worth $307,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Pittenger & Anderson Inc. purchased a new stake in shares of Kenvue in the first quarter valued at approximately $30,000. TruNorth Capital Management LLC purchased a new stake in Kenvue during the first quarter worth $36,000. Clarity Asset Management Inc. purchased a new stake in Kenvue during the fourth quarter worth $45,000. Continuum Advisory LLC boosted its position in Kenvue by 2,071.1% during the first quarter. Continuum Advisory LLC now owns 1,954 shares of the company’s stock worth $47,000 after purchasing an additional 1,864 shares in the last quarter. Finally, Rossby Financial LCC purchased a new stake in Kenvue during the first quarter worth $52,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Stock Down 0.6%

KVUE opened at $22.52 on Thursday. Kenvue Inc. has a 12 month low of $17.85 and a 12 month high of $25.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.60. The stock has a market cap of $43.22 billion, a P/E ratio of 40.95, a P/E/G ratio of 3.78 and a beta of 0.83. The stock’s 50 day moving average price is $22.08 and its 200 day moving average price is $22.32.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, May 8th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. Kenvue had a return on equity of 20.87% and a net margin of 6.90%. The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same period last year, the firm earned $0.28 EPS. The firm’s revenue was down 3.9% compared to the same quarter last year. As a group, research analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Analyst Upgrades and Downgrades

KVUE has been the topic of a number of recent analyst reports. Bank of America cut their price target on shares of Kenvue from $27.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, July 15th. Redburn Atlantic initiated coverage on Kenvue in a report on Thursday, April 10th. They issued a “neutral” rating and a $23.50 target price on the stock. Barclays lowered their price target on Kenvue from $23.00 to $22.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 15th. Citigroup cut their price objective on Kenvue from $24.50 to $22.00 and set a “neutral” rating on the stock in a report on Tuesday, July 15th. Finally, UBS Group decreased their target price on Kenvue from $25.00 to $23.00 and set a “neutral” rating for the company in a report on Thursday, July 17th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $24.71.

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.