Rudius Management LP Sells 1,060,000 Shares of Kenvue Inc. (NYSE:KVUE)

Rudius Management LP cut its position in Kenvue Inc. (NYSE:KVUE) by 80.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 251,894 shares of the company’s stock after selling 1,060,000 shares during the period. Kenvue accounts for approximately 1.2% of Rudius Management LP’s investment portfolio, making the stock its 6th biggest holding. Rudius Management LP’s holdings in Kenvue were worth $5,826,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KVUE. FMR LLC grew its holdings in shares of Kenvue by 2.3% during the third quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after buying an additional 3,075,019 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Kenvue by 8.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after purchasing an additional 7,115,374 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Kenvue by 21.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock worth $789,813,000 after purchasing an additional 7,546,362 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Kenvue by 20.7% in the second quarter. American Century Companies Inc. now owns 27,382,644 shares of the company’s stock worth $497,816,000 after purchasing an additional 4,700,697 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Kenvue by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 24,411,207 shares of the company’s stock valued at $564,689,000 after buying an additional 547,874 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Stock Performance

Shares of KVUE stock opened at $24.12 on Wednesday. The firm’s 50 day moving average is $22.87 and its 200 day moving average is $20.92. The stock has a market capitalization of $46.24 billion, a P/E ratio of 43.85, a PEG ratio of 2.20 and a beta of 1.36. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $24.46. 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 (NYSE:KVUE) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The company had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the previous year, the business earned $0.31 earnings per share. The firm’s quarterly revenue was down .4% compared to the same quarter last year. On average, sell-side analysts anticipate that Kenvue Inc. will post 1.07 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s payout ratio is 149.09%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Bank of America raised their price objective on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. UBS Group raised their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Piper Sandler upped their target price on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. JPMorgan Chase & Co. lifted their price target on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.64.

Kenvue Company 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.