Fulton Breakefield Broenniman LLC Cuts Position in Kenvue Inc. (NYSE:KVUE)

Fulton Breakefield Broenniman LLC lessened its holdings in Kenvue Inc. (NYSE:KVUE) by 7.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 455,872 shares of the company’s stock after selling 34,062 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Kenvue were worth $9,815,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Empirical Finance LLC purchased a new position in Kenvue in the third quarter valued at approximately $336,000. UniSuper Management Pty Ltd purchased a new position in Kenvue in the third quarter valued at approximately $35,544,000. Citizens Business Bank purchased a new position in Kenvue in the third quarter valued at approximately $2,507,000. Fifth Third Bancorp lifted its stake in Kenvue by 35.3% in the fourth quarter. Fifth Third Bancorp now owns 277,580 shares of the company’s stock valued at $5,976,000 after purchasing an additional 72,435 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its stake in Kenvue by 364.6% in the third quarter. Clearbridge Investments LLC now owns 484,321 shares of the company’s stock valued at $9,725,000 after purchasing an additional 380,071 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. William Blair assumed coverage on Kenvue in a research note on Wednesday, April 3rd. They issued a “market perform” rating on the stock. JPMorgan Chase & Co. lowered their target price on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Friday, February 9th. Sanford C. Bernstein assumed coverage on shares of Kenvue in a report on Thursday, April 11th. They set an “underperform” rating and a $18.00 target price on the stock. The Goldman Sachs Group assumed coverage on shares of Kenvue in a report on Friday, March 1st. They set a “neutral” rating and a $20.00 target price on the stock. Finally, Royal Bank of Canada lowered their target price on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $24.85.

Kenvue Stock Down 0.8 %

Shares of NYSE:KVUE opened at $18.86 on Friday. Kenvue Inc. has a 52-week low of $17.82 and a 52-week high of $27.80. The firm has a fifty day moving average of $19.84 and a 200 day moving average of $20.13. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, February 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.03. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.78 billion. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. Sell-side analysts forecast that Kenvue Inc. will post 1.15 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be given a $0.20 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.80 annualized dividend and a yield of 4.24%.

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.