Sawgrass Asset Management LLC Has $9.63 Million Stake in Kenvue Inc. (NYSE:KVUE)

Sawgrass Asset Management LLC lowered its stake in shares of Kenvue Inc. (NYSE:KVUE) by 2.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 447,308 shares of the company’s stock after selling 13,576 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Kenvue were worth $9,631,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Clearstead Advisors LLC acquired a new stake in shares of Kenvue in the 3rd quarter valued at $25,000. Planned Solutions Inc. purchased a new position in Kenvue during the 4th quarter worth $27,000. Venturi Wealth Management LLC bought a new stake in shares of Kenvue in the 3rd quarter worth $28,000. EverSource Wealth Advisors LLC bought a new position in Kenvue during the third quarter valued at about $28,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in Kenvue during the third quarter valued at about $29,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Stock Up 1.8 %

Kenvue stock traded up $0.37 during midday trading on Wednesday, hitting $20.45. The stock had a trading volume of 23,642,579 shares, compared to its average volume of 17,121,814. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 52-week low of $17.82 and a 52-week high of $27.80. The firm’s fifty day moving average is $19.85 and its two-hundred day moving average is $20.11.

Kenvue (NYSE:KVUE) last posted its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.79 billion. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The firm’s revenue for the quarter was down 24.9% on a year-over-year basis. On average, equities analysts expect that Kenvue Inc. will post 1.15 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.80 annualized dividend and a dividend yield of 3.91%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on KVUE shares. The Goldman Sachs Group started coverage on shares of Kenvue in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price target on the stock. HSBC lifted their target price on shares of Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday. Royal Bank of Canada lowered 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. William Blair began coverage on shares of Kenvue in a report on Wednesday, April 3rd. They issued a “market perform” rating for the company. Finally, Sanford C. Bernstein began 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $24.38.

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.