Fifth Third Bancorp Buys 377,133 Shares of Kenvue Inc. $KVUE

Fifth Third Bancorp lifted its stake in Kenvue Inc. (NYSE:KVUE) by 167.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 602,532 shares of the company’s stock after buying an additional 377,133 shares during the period. Fifth Third Bancorp’s holdings in Kenvue were worth $10,388,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of KVUE. Simplicity Wealth LLC boosted its holdings in Kenvue by 88.2% during the first quarter. Simplicity Wealth LLC now owns 40,557 shares of the company’s stock valued at $699,000 after purchasing an additional 19,006 shares in the last quarter. Candriam S.C.A. grew its holdings in Kenvue by 5.0% during the 1st quarter. Candriam S.C.A. now owns 134,736 shares of the company’s stock worth $2,323,000 after acquiring an additional 6,356 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Kenvue by 13.9% during the first quarter. Sequoia Financial Advisors LLC now owns 72,458 shares of the company’s stock valued at $1,249,000 after purchasing an additional 8,838 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Kenvue by 10.0% in the 1st quarter. Hsbc Holdings PLC now owns 5,618,177 shares of the company’s stock valued at $96,555,000 after buying an additional 511,809 shares during the period. Finally, Kestra Advisory Services LLC increased its position in Kenvue by 0.8% in the first quarter. Kestra Advisory Services LLC now owns 175,192 shares of the company’s stock worth $3,020,000 after purchasing an additional 1,385 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Wall Street Zen raised shares of Kenvue to a “buy” rating in a research note on Sunday. Zacks Research lowered Kenvue from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 7th. Barclays cut their price target on shares of Kenvue from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 14th. Citigroup cut their price objective on Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, April 15th. Finally, UBS Group reduced their price target on Kenvue from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Three investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.33.

Insider Transactions at Kenvue

In other Kenvue news, General Counsel Matthew Orlando sold 38,491 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $17.66, for a total transaction of $679,751.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.59% of the stock is owned by company insiders.

Kenvue Trading Down 2.4%

KVUE stock opened at $18.76 on Wednesday. The company’s 50-day simple moving average is $18.12 and its 200 day simple moving average is $17.82. Kenvue Inc. has a 52 week low of $14.02 and a 52 week high of $22.87. The company has a market capitalization of $36.02 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 1.46 and a beta of 0.47. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.70 and a current ratio of 0.98.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, May 7th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.27 by $0.05. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The company had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same period last year, the firm earned $0.24 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Kenvue Inc. will post 1.16 earnings per share for the current year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were issued a $0.2075 dividend. This represents a $0.83 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Wednesday, May 13th. Kenvue’s dividend payout ratio (DPR) is currently 97.65%.

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.