TD Asset Management Inc Sells 1,931,369 Shares of Kenvue Inc. $KVUE

TD Asset Management Inc reduced its position in Kenvue Inc. (NYSE:KVUE) by 72.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 719,665 shares of the company’s stock after selling 1,931,369 shares during the period. TD Asset Management Inc’s holdings in Kenvue were worth $11,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new position in Kenvue in the second quarter worth about $537,418,000. Independent Franchise Partners LLP increased its position in shares of Kenvue by 233.4% during the 2nd quarter. Independent Franchise Partners LLP now owns 31,265,574 shares of the company’s stock valued at $654,388,000 after purchasing an additional 21,886,537 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Kenvue by 38.6% in the 2nd quarter. American Century Companies Inc. now owns 30,265,020 shares of the company’s stock worth $633,447,000 after purchasing an additional 8,436,166 shares during the period. Amundi boosted its holdings in shares of Kenvue by 82.5% in the second quarter. Amundi now owns 14,509,890 shares of the company’s stock worth $305,446,000 after buying an additional 6,559,261 shares during the last quarter. Finally, Mondrian Investment Partners LTD bought a new stake in Kenvue during the third quarter valued at approximately $79,269,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Insider Buying and Selling at Kenvue

In related news, Director Jeffrey C. Smith bought 3,200,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was purchased at an average price of $17.37 per share, for a total transaction of $55,584,000.00. Following the completion of the transaction, the director owned 27,307,632 shares in the company, valued at $474,333,567.84. The trade was a 13.27% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.68% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on KVUE shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Kenvue in a research report on Friday, January 9th. Zacks Research raised Kenvue from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 26th. UBS Group lifted their target price on Kenvue from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Edward Jones cut Kenvue from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Finally, Canaccord Genuity Group raised their price objective on Kenvue from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Wednesday, February 18th. Three investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.50.

Kenvue Price Performance

Shares of Kenvue stock opened at $19.11 on Monday. The company has a market capitalization of $36.62 billion, a price-to-earnings ratio of 24.81, a PEG ratio of 4.38 and a beta of 0.59. The company has a quick ratio of 0.68, a current ratio of 0.96 and a debt-to-equity ratio of 0.66. The stock’s 50-day simple moving average is $17.72 and its 200-day simple moving average is $17.50. Kenvue Inc. has a 52 week low of $14.02 and a 52 week high of $25.17.

Kenvue (NYSE:KVUE) last released its earnings results on Tuesday, February 17th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.05. Kenvue had a return on equity of 19.72% and a net margin of 9.72%.The firm had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.68 billion. During the same quarter last year, the business posted $0.26 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. As a group, analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were issued a $0.2075 dividend. This represents a $0.83 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend was Wednesday, February 11th. Kenvue’s payout ratio is 107.79%.

Kenvue Company Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.