Kenvue Inc. (NYSE:KVUE) Shares Bought by Huntington National Bank

Huntington National Bank boosted its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 26.5% during the third quarter, HoldingsChannel.com reports. The firm owned 4,161 shares of the company’s stock after purchasing an additional 871 shares during the period. Huntington National Bank’s holdings in Kenvue were worth $96,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Lorne Steinberg Wealth Management Inc. lifted its position in shares of Kenvue by 59.0% during the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company’s stock valued at $2,812,000 after buying an additional 57,375 shares in the last quarter. Kennon Green & Company LLC lifted its holdings in Kenvue by 140.7% during the second quarter. Kennon Green & Company LLC now owns 159,106 shares of the company’s stock valued at $2,893,000 after purchasing an additional 93,008 shares in the last quarter. Czech National Bank grew its position in shares of Kenvue by 20.3% in the second quarter. Czech National Bank now owns 364,886 shares of the company’s stock valued at $6,634,000 after purchasing an additional 61,635 shares during the period. Crestwood Advisors Group LLC increased its stake in shares of Kenvue by 14.8% during the second quarter. Crestwood Advisors Group LLC now owns 1,537,348 shares of the company’s stock worth $27,950,000 after purchasing an additional 198,607 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in shares of Kenvue by 16,051.1% during the 1st quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock worth $210,600,000 after purchasing an additional 9,752,836 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Bank of America lifted their price target on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada downgraded Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a research note on Tuesday, September 24th. Piper Sandler lifted their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Finally, UBS Group increased their target price on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $22.64.

Kenvue Price Performance

Kenvue stock opened at $23.82 on Monday. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $22.77 and a 200 day moving average price of $20.70. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.13. The stock has a market cap of $45.67 billion, a P/E ratio of 43.31, a PEG ratio of 2.16 and a beta of 1.36.

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. 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 the consensus estimate of $3.92 billion. During the same quarter last year, the firm earned $0.31 EPS. The business’s revenue was down .4% compared to the same quarter last year. Sell-side analysts anticipate that Kenvue Inc. will post 1.07 earnings per share for the current 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. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.44%. Kenvue’s dividend payout ratio is currently 149.09%.

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.