Fifth Third Bancorp Increases Position in Kenvue Inc. (NYSE:KVUE)

Fifth Third Bancorp grew its position in shares of Kenvue Inc. (NYSE:KVUE) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,715 shares of the company’s stock after purchasing an additional 4,942 shares during the period. Fifth Third Bancorp’s holdings in Kenvue were worth $4,819,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Leo Wealth LLC boosted its holdings in Kenvue by 0.3% during the 3rd quarter. Leo Wealth LLC now owns 151,611 shares of the company’s stock valued at $3,507,000 after acquiring an additional 481 shares during the period. Alerus Financial NA lifted its position in shares of Kenvue by 0.3% during the third quarter. Alerus Financial NA now owns 191,345 shares of the company’s stock worth $4,426,000 after purchasing an additional 491 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of Kenvue by 6.2% in the third quarter. Massmutual Trust Co. FSB ADV now owns 8,400 shares of the company’s stock valued at $194,000 after purchasing an additional 492 shares during the period. Kiley Juergens Wealth Management LLC grew its holdings in shares of Kenvue by 1.9% in the fourth quarter. Kiley Juergens Wealth Management LLC now owns 27,110 shares of the company’s stock valued at $579,000 after purchasing an additional 500 shares in the last quarter. Finally, Wolff Wiese Magana LLC increased its stake in Kenvue by 0.7% during the 3rd quarter. Wolff Wiese Magana LLC now owns 76,999 shares of the company’s stock worth $1,781,000 after buying an additional 501 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Stock Performance

Shares of Kenvue stock opened at $20.79 on Monday. The firm’s fifty day simple moving average is $22.14 and its 200-day simple moving average is $21.80. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $24.46. The stock has a market capitalization of $39.85 billion, a price-to-earnings ratio of 37.79, a PEG ratio of 1.99 and a beta of 1.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business had revenue of $3.90 billion during the quarter, compared to analysts’ expectations of $3.92 billion. During the same period in the prior year, the company earned $0.31 earnings per share. The business’s revenue was down .4% compared to the same quarter last year. As a group, equities analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a $0.205 dividend. The ex-dividend date is Wednesday, February 12th. This represents a $0.82 annualized dividend and a dividend yield of 3.95%. Kenvue’s dividend payout ratio (DPR) is currently 149.09%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Citigroup dropped their price target on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. Barclays lowered their target price on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Piper Sandler raised Kenvue from a “neutral” rating to an “overweight” rating and increased their price target for the company from $21.00 to $26.00 in a research report on Monday, January 6th. Bank of America boosted their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, UBS Group dropped their price objective on shares of Kenvue from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $23.08.

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.