Kornitzer Capital Management Inc. KS Sells 109,195 Shares of Kenvue Inc. (NYSE:KVUE)

Kornitzer Capital Management Inc. KS lessened its position in shares of Kenvue Inc. (NYSE:KVUE) by 23.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 352,805 shares of the company’s stock after selling 109,195 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Kenvue were worth $7,596,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Empirical Finance LLC bought a new position in Kenvue during the 3rd quarter worth about $336,000. UniSuper Management Pty Ltd bought a new position in Kenvue during the 3rd quarter worth about $35,544,000. Howland Capital Management LLC bought a new position in Kenvue during the 3rd quarter worth about $7,764,000. Citizens Business Bank acquired a new position in shares of Kenvue during the 3rd quarter worth about $2,507,000. Finally, Fifth Third Bancorp boosted its stake in shares of Kenvue by 35.3% during the 4th quarter. Fifth Third Bancorp now owns 277,580 shares of the company’s stock worth $5,976,000 after buying an additional 72,435 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

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

Kenvue Price Performance

Kenvue stock remained flat at $19.58 during trading hours on Friday. 9,506,274 shares of the company’s stock traded hands, compared to its average volume of 12,499,857. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 52-week low of $17.82 and a 52-week high of $27.80. The business’s 50 day moving average is $19.84 and its 200-day moving average is $20.16.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, February 8th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.03. The firm had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.78 billion. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. Kenvue’s quarterly revenue was down 2.7% on a year-over-year basis. As a group, analysts expect that Kenvue Inc. will post 1.15 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 dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.80 annualized dividend and a dividend yield of 4.09%.

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.