Kenvue Inc. (NYSE:KVUE) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN trimmed its position in Kenvue Inc. (NYSE:KVUE) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,044 shares of the company’s stock after selling 1,084 shares during the period. OLD National Bancorp IN’s holdings in Kenvue were worth $464,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of KVUE. Cornerstone Wealth Group LLC grew its position in shares of Kenvue by 176.2% in the first quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock valued at $7,519,000 after purchasing an additional 223,537 shares during the period. Janney Montgomery Scott LLC boosted its stake in Kenvue by 56.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,840,875 shares of the company’s stock worth $39,505,000 after buying an additional 662,666 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Kenvue during the 1st quarter valued at about $1,050,000. Norden Group LLC purchased a new position in shares of Kenvue during the 1st quarter worth about $1,792,000. Finally, Lorne Steinberg Wealth Management Inc. boosted its position in shares of Kenvue by 59.0% in the second quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company’s stock worth $2,812,000 after acquiring an additional 57,375 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Price Performance

Shares of KVUE stock opened at $22.93 on Wednesday. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $23.55. The company has a market capitalization of $43.91 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 2.76 and a beta of 1.40. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. The firm has a fifty day simple moving average of $22.33 and a 200-day simple moving average of $20.24.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the prior year, the company posted $0.32 EPS. The firm’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts anticipate that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s payout ratio is 105.13%.

Analysts Set New Price Targets

Several equities analysts recently commented on KVUE shares. Jefferies Financial Group began coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target for the company. Piper Sandler lifted their target price on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Citigroup lowered their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. UBS Group raised their price objective on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price for the company. in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $22.64.

Kenvue 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.