Meritage Portfolio Management Sells 3,310 Shares of Kenvue Inc. (NYSE:KVUE)

Meritage Portfolio Management decreased its holdings in Kenvue Inc. (NYSE:KVUE) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,723 shares of the company’s stock after selling 3,310 shares during the quarter. Meritage Portfolio Management’s holdings in Kenvue were worth $2,492,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Clearstead Advisors LLC bought a new stake in Kenvue in the 3rd quarter worth about $25,000. Planned Solutions Inc. purchased a new stake in shares of Kenvue during the 4th quarter valued at about $27,000. AdvisorNet Financial Inc purchased a new stake in shares of Kenvue during the 3rd quarter valued at about $28,000. Global Retirement Partners LLC purchased a new stake in shares of Kenvue during the 3rd quarter valued at about $28,000. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Kenvue during the 3rd quarter valued at about $28,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Trading Down 0.6 %

NYSE KVUE traded down $0.11 during trading on Thursday, hitting $19.02. The company’s stock had a trading volume of 14,246,200 shares, compared to its average volume of 16,707,334. 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 fifty-two week low of $17.82 and a fifty-two week high of $27.80. The business’s 50 day simple moving average is $19.84 and its 200-day simple moving average is $20.15.

Kenvue (NYSE:KVUE) last released 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. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.78 billion. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. On average, analysts anticipate that Kenvue Inc. will post 1.15 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on KVUE. William Blair began coverage on Kenvue in a research note on Wednesday, April 3rd. They issued a “market perform” rating for the company. Sanford C. Bernstein began coverage on Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price target for the company. The Goldman Sachs Group initiated coverage on Kenvue in a research note on Friday, March 1st. They issued a “neutral” rating and a $20.00 price target for the company. JPMorgan Chase & Co. lowered their target price on Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Friday, February 9th. Finally, Royal Bank of Canada lowered their target price on Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a research report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company 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.