Palouse Capital Management Inc. Sells 34,677 Shares of Kenvue Inc. (NYSE:KVUE)

Palouse Capital Management Inc. reduced its stake in shares of Kenvue Inc. (NYSE:KVUE) by 23.9% during the 4th quarter, Holdings Channel.com reports. The firm owned 110,613 shares of the company’s stock after selling 34,677 shares during the quarter. Kenvue comprises about 1.6% of Palouse Capital Management Inc.’s holdings, making the stock its 27th largest position. Palouse Capital Management Inc.’s holdings in Kenvue were worth $2,362,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Allworth Financial LP grew its stake in shares of Kenvue by 90.2% during the fourth quarter. Allworth Financial LP now owns 38,082 shares of the company’s stock valued at $790,000 after purchasing an additional 18,059 shares during the last quarter. Principal Securities Inc. boosted its stake in Kenvue by 1,103.6% in the fourth quarter. Principal Securities Inc. now owns 44,378 shares of the company’s stock valued at $947,000 after acquiring an additional 40,691 shares during the last quarter. Legacy Capital Wealth Partners LLC boosted its stake in Kenvue by 17.3% in the fourth quarter. Legacy Capital Wealth Partners LLC now owns 46,126 shares of the company’s stock valued at $985,000 after acquiring an additional 6,787 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Kenvue by 3.7% in the fourth quarter. New York State Teachers Retirement System now owns 1,562,421 shares of the company’s stock valued at $33,358,000 after acquiring an additional 56,078 shares during the last quarter. Finally, Asset Planning Inc bought a new position in Kenvue in the fourth quarter valued at approximately $42,000. 97.64% of the stock is owned by institutional investors.

Kenvue Trading Up 2.3 %

Shares of NYSE:KVUE opened at $21.94 on Friday. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $24.46. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company’s fifty day simple moving average is $21.32 and its 200 day simple moving average is $22.07. The firm has a market cap of $42.07 billion, a price-to-earnings ratio of 41.40, a PEG ratio of 2.16 and a beta of 1.45.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. As a group, research analysts forecast that Kenvue Inc. will post 1.05 EPS for the current fiscal year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.82 annualized dividend and a yield of 3.74%. Kenvue’s payout ratio is currently 154.72%.

Wall Street Analyst Weigh In

KVUE has been the topic of a number of recent research reports. UBS Group reduced their price objective on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Piper Sandler raised shares of Kenvue from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $21.00 to $26.00 in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft cut shares of Kenvue from a “buy” rating to a “hold” rating and reduced their price objective for the company from $25.00 to $24.00 in a research note on Thursday, December 12th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price objective on shares of Kenvue in a research note on Monday, February 3rd. Finally, Canaccord Genuity Group cut their target price on shares of Kenvue from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Kenvue has an average rating of “Hold” and an average price target of $23.00.

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.