RNC Capital Management LLC Trims Position in Kenvue Inc. (NYSE:KVUE)

RNC Capital Management LLC cut its position in Kenvue Inc. (NYSE:KVUE) by 8.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,172,166 shares of the company’s stock after selling 101,504 shares during the period. RNC Capital Management LLC’s holdings in Kenvue were worth $25,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Clearstead Advisors LLC purchased a new position in Kenvue during the third quarter valued at $25,000. EverSource Wealth Advisors LLC bought a new position in Kenvue during the third quarter valued at $28,000. AdvisorNet Financial Inc bought a new position in Kenvue during the third quarter valued at $28,000. Global Retirement Partners LLC bought a new position in Kenvue during the third quarter valued at $28,000. Finally, Venturi Wealth Management LLC bought a new position in Kenvue during the third quarter valued at $28,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Stock Performance

KVUE stock opened at $21.45 on Thursday. Kenvue Inc. has a 12 month low of $17.82 and a 12 month high of $27.80. The firm’s 50-day moving average is $20.00 and its 200 day moving average is $20.25. 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 posted its quarterly earnings results on Thursday, February 8th. The company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.28 by $0.03. The company had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.78 billion. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The business’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, analysts anticipate that Kenvue Inc. will post 1.17 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 14th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend was Tuesday, February 13th.

Analyst Upgrades and Downgrades

KVUE has been the subject of several research reports. 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 research report on Friday, February 9th. UBS Group increased their price objective on shares of Kenvue from $20.00 to $23.00 and gave the company a “neutral” rating in a research report on Tuesday, December 19th. 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 objective for the company. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Kenvue presently has an average rating of “Moderate Buy” and a consensus target price of $25.42.

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, and other products under the Tylenol, Nicorette, and Zyrtec brands.