Lipe & Dalton Has $697,000 Stake in Kenvue Inc. (NYSE:KVUE)

Lipe & Dalton reduced its position in Kenvue Inc. (NYSE:KVUE) by 32.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,367 shares of the company’s stock after selling 15,608 shares during the period. Lipe & Dalton’s holdings in Kenvue were worth $697,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. bought a new stake in shares of Kenvue during the 3rd quarter worth $2,944,816,000. FMR LLC raised its stake in shares of Kenvue by 572.1% during the 3rd quarter. FMR LLC now owns 89,182,980 shares of the company’s stock worth $1,790,794,000 after purchasing an additional 75,913,107 shares during the period. Wellington Management Group LLP raised its stake in shares of Kenvue by 576.1% during the 3rd quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock worth $1,439,472,000 after purchasing an additional 61,084,123 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of Kenvue by 227.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock worth $1,226,711,000 after purchasing an additional 42,449,470 shares during the period. Finally, Morgan Stanley raised its stake in shares of Kenvue by 4,057.4% during the 3rd quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock worth $625,745,000 after purchasing an additional 30,413,040 shares during the period. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Down 0.1 %

Shares of KVUE traded down $0.02 on Tuesday, hitting $19.11. 20,219,873 shares of the stock traded hands, compared to its average volume of 16,870,912. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 0.78. Kenvue Inc. has a one year low of $17.82 and a one year high of $27.80. The business has a 50 day simple moving average of $19.88 and a 200 day simple moving average of $20.18.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, February 8th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. The business had revenue of $3.67 billion during 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 company’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities analysts forecast that Kenvue Inc. will post 1.17 EPS for the current year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 14th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.19%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KVUE. Sanford C. Bernstein began coverage on Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective for the company. Royal Bank of Canada cut their price objective on Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a report on Friday, February 9th. JPMorgan Chase & Co. dropped their target price 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. William Blair assumed coverage on shares of Kenvue in a report on Wednesday, April 3rd. They set a “market perform” rating for the company. Finally, UBS Group increased their target price on Kenvue from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, December 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Kenvue presently has an average rating of “Hold” and an average price target of $24.85.

Kenvue 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.