Sterneck Capital Management LLC Sells 1,906 Shares of Kenvue Inc. (NYSE:KVUE)

Sterneck Capital Management LLC trimmed its holdings in Kenvue Inc. (NYSE:KVUE) by 6.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 30,018 shares of the company’s stock after selling 1,906 shares during the period. Sterneck Capital Management LLC’s holdings in Kenvue were worth $641,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Leo Wealth LLC boosted its stake in shares of Kenvue by 0.3% in the 3rd quarter. Leo Wealth LLC now owns 151,611 shares of the company’s stock worth $3,507,000 after buying an additional 481 shares during the last quarter. Alerus Financial NA lifted its holdings in Kenvue by 0.3% in the third quarter. Alerus Financial NA now owns 191,345 shares of the company’s stock valued at $4,426,000 after acquiring an additional 491 shares during the period. Massmutual Trust Co. FSB ADV boosted its position in Kenvue by 6.2% in the third quarter. Massmutual Trust Co. FSB ADV now owns 8,400 shares of the company’s stock worth $194,000 after purchasing an additional 492 shares during the last quarter. Wolff Wiese Magana LLC grew its stake in shares of Kenvue by 0.7% during the 3rd quarter. Wolff Wiese Magana LLC now owns 76,999 shares of the company’s stock valued at $1,781,000 after purchasing an additional 501 shares during the period. Finally, Marathon Capital Management increased its position in shares of Kenvue by 0.3% during the 2nd quarter. Marathon Capital Management now owns 149,699 shares of the company’s stock valued at $2,722,000 after purchasing an additional 514 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Piper Sandler raised shares of Kenvue from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $21.00 to $26.00 in a report on Monday. Royal Bank of Canada upgraded shares of Kenvue from a “hold” rating to a “moderate buy” rating in a research note on Monday, December 9th. Barclays raised Kenvue to a “hold” rating in a report on Thursday, December 12th. JPMorgan Chase & Co. boosted their price target on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Jefferies Financial Group began coverage on Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $23.09.

Kenvue Stock Down 0.4 %

Shares of KVUE opened at $21.03 on Wednesday. The business’s 50 day moving average is $22.77 and its 200 day moving average is $21.54. 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. The company has a market capitalization of $40.32 billion, a PE ratio of 38.24, a price-to-earnings-growth ratio of 2.02 and a beta of 1.46.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The firm had revenue of $3.90 billion for the quarter, compared to analysts’ expectations of $3.92 billion. During the same quarter last year, the business posted $0.31 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Research analysts expect that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend was Wednesday, November 13th. Kenvue’s payout ratio is currently 149.09%.

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.