Fifth Third Wealth Advisors LLC Trims Stock Position in Kenvue Inc. (NYSE:KVUE)

Fifth Third Wealth Advisors LLC lowered its stake in Kenvue Inc. (NYSE:KVUE) by 23.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 44,152 shares of the company’s stock after selling 13,186 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Kenvue were worth $1,021,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in shares of Kenvue by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock worth $2,887,773,000 after purchasing an additional 25,238,112 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Kenvue by 9.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 79,863,967 shares of the company’s stock valued at $1,451,927,000 after buying an additional 7,023,047 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Kenvue by 21.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after purchasing an additional 7,546,362 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Kenvue by 20.7% during the second quarter. American Century Companies Inc. now owns 27,382,644 shares of the company’s stock worth $497,816,000 after purchasing an additional 4,700,697 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Kenvue by 110.9% during the 2nd quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock valued at $372,880,000 after buying an additional 10,783,258 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on KVUE shares. Bank of America increased their target price on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft raised their target price on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Jefferies Financial Group initiated coverage on Kenvue in a report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective on the stock. Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target for the company. in a research note on Tuesday, September 24th. Finally, UBS Group increased their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.64.

Kenvue Trading Down 0.1 %

Shares of NYSE KVUE opened at $23.69 on Wednesday. The stock’s 50 day simple moving average is $22.78 and its 200 day simple moving average is $20.75. The company has a market cap of $45.42 billion, a price-to-earnings ratio of 43.07, a price-to-earnings-growth ratio of 2.16 and a beta of 1.36. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.13.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.31 EPS. Equities research analysts expect that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

Kenvue Company Profile

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.