Kenvue Inc. $KVUE Stock: Keybank National Association OH Decreases Holdings

Keybank National Association OH lowered its position in shares of Kenvue Inc. (NYSE:KVUE) by 16.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 709,413 shares of the company’s stock after selling 141,143 shares during the period. Keybank National Association OH’s holdings in Kenvue were worth $12,528,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Johnson Financial Group Inc. purchased a new stake in Kenvue in the second quarter valued at approximately $26,000. GK Wealth Management LLC acquired a new stake in shares of Kenvue in the third quarter valued at approximately $27,000. CoreCap Advisors LLC boosted its holdings in shares of Kenvue by 64.9% in the second quarter. CoreCap Advisors LLC now owns 1,502 shares of the company’s stock valued at $29,000 after acquiring an additional 591 shares during the period. Bell Investment Advisors Inc acquired a new stake in shares of Kenvue in the second quarter valued at approximately $35,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Kenvue during the third quarter worth approximately $36,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Price Performance

Kenvue stock opened at $19.31 on Thursday. Kenvue Inc. has a twelve month low of $14.06 and a twelve month high of $20.13. The stock has a 50 day moving average of $18.43 and a two-hundred day moving average of $18.27. The company has a current ratio of 1.01, a quick ratio of 0.71 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $37.09 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 1.77 and a beta of 0.48.

Kenvue (NYSE:KVUE) last released its earnings results on Friday, October 30th. The company reported $0.29 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.29. The business had revenue of $3.89 billion for the quarter, compared to analyst estimates of $3.86 billion. Kenvue had a return on equity of 21.22% and a net margin of 10.76%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.28 earnings per share. As a group, research analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 2nd. Investors of record on Monday, September 21st were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $0.84 annualized dividend and a dividend yield of 4.4%. Kenvue’s dividend payout ratio (DPR) is currently 95.45%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wall Street Zen downgraded shares of Kenvue from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. HSBC decreased their price target on shares of Kenvue from $20.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, August 10th. UBS Group raised their price objective on shares of Kenvue from $19.00 to $20.00 and gave the stock a “neutral” rating in a research report on Monday, November 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Kenvue in a research note on Friday, September 11th. Finally, Barclays upped their target price on shares of Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Tuesday, July 21st. Ten research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.29.

Kenvue Profile

Kenvue Inc. is a consumer health company that develops and sells products for everyday health and personal care. Its portfolio includes over-the-counter medicines, skin and hair care, oral care, wound care, and baby care products. Its well-known brands include Tylenol, Neutrogena, Aveeno, Listerine, Band-Aid, Johnson’s, and Zyrtec. Kenvue organizes its business around Self Care, Skin Health and Beauty, and Essential Health. The company became an independent business in 2023 after Johnson & Johnson completed the separation of its consumer health business.