JPMorgan Chase & Co. Sells 35,141,362 Shares of Kenvue Inc. (NYSE:KVUE)

JPMorgan Chase & Co. decreased its stake in Kenvue Inc. (NYSE:KVUE) by 54.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 29,452,952 shares of the company’s stock after selling 35,141,362 shares during the quarter. JPMorgan Chase & Co.’s holdings in Kenvue were worth $681,247,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Huntington National Bank lifted its stake in Kenvue by 26.5% during the third quarter. Huntington National Bank now owns 4,161 shares of the company’s stock worth $96,000 after purchasing an additional 871 shares during the last quarter. ING Groep NV raised its holdings in shares of Kenvue by 23.6% during the 3rd quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock valued at $82,727,000 after buying an additional 681,954 shares in the last quarter. Kennon Green & Company LLC lifted its position in Kenvue by 140.7% in the 2nd quarter. Kennon Green & Company LLC now owns 159,106 shares of the company’s stock worth $2,893,000 after buying an additional 93,008 shares during the last quarter. Crestwood Advisors Group LLC boosted its stake in Kenvue by 14.8% in the second quarter. Crestwood Advisors Group LLC now owns 1,537,348 shares of the company’s stock worth $27,950,000 after buying an additional 198,607 shares in the last quarter. Finally, Saturna Capital Corp grew its position in Kenvue by 29.9% during the third quarter. Saturna Capital Corp now owns 1,334,860 shares of the company’s stock valued at $30,875,000 after acquiring an additional 307,039 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

KVUE has been the topic of several recent research reports. Bank of America increased their target price on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price objective on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Piper Sandler increased their target price on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Royal Bank of Canada raised Kenvue from a “hold” rating to a “moderate buy” rating in a research note on Monday, December 9th. Finally, Deutsche Bank Aktiengesellschaft lowered Kenvue from a “buy” rating to a “hold” rating and dropped their price objective for the company from $25.00 to $24.00 in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $22.64.

Kenvue Stock Performance

Shares of KVUE stock opened at $21.53 on Friday. The company’s fifty day moving average price is $22.96 and its 200-day moving average price is $21.38. The stock has a market cap of $41.28 billion, a PE ratio of 39.15, a price-to-earnings-growth ratio of 2.02 and a beta of 1.36. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $24.46.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, November 7th. 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 21.43% and a net margin of 6.88%. The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter in the previous year, the business earned $0.31 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. On average, equities analysts expect that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.81%. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

Kenvue Company 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.