Farther Finance Advisors LLC Sells 9,960 Shares of Kenvue Inc. (NYSE:KVUE)

Farther Finance Advisors LLC decreased its position in Kenvue Inc. (NYSE:KVUE) by 34.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,542 shares of the company’s stock after selling 9,960 shares during the quarter. Farther Finance Advisors LLC’s holdings in Kenvue were worth $429,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Manchester Capital Management LLC raised its stake in Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after purchasing an additional 530 shares in the last quarter. Riverview Trust Co bought a new position in shares of Kenvue in the 3rd quarter valued at about $30,000. Studio Investment Management LLC grew its position in Kenvue by 52.1% in the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after acquiring an additional 845 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Kenvue during the second quarter worth approximately $61,000. Finally, Mather Group LLC. raised its position in Kenvue by 230.9% during the second quarter. Mather Group LLC. now owns 4,232 shares of the company’s stock valued at $77,000 after purchasing an additional 2,953 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

KVUE has been the topic of several analyst reports. UBS Group boosted their target price on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Jefferies Financial Group initiated coverage on shares of Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Finally, Bank of America boosted their target price on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Kenvue presently has a consensus rating of “Hold” and a consensus price target of $22.64.

Kenvue Stock Up 2.1 %

Shares of NYSE:KVUE opened at $22.97 on Friday. The business’s 50 day moving average is $22.61 and its 200 day moving average is $20.50. The stock has a market cap of $43.99 billion, a P/E ratio of 39.60, a price-to-earnings-growth ratio of 3.01 and a beta of 1.36. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $23.57. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The business had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The business’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 EPS. Sell-side analysts predict that Kenvue Inc. will post 1.08 EPS for the current year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is 141.38%.

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.