Cibc World Markets Corp Sells 2,200,537 Shares of Kenvue Inc. (NYSE:KVUE)

Cibc World Markets Corp trimmed its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 74.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 752,091 shares of the company’s stock after selling 2,200,537 shares during the period. Cibc World Markets Corp’s holdings in Kenvue were worth $16,057,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Huntington National Bank grew its position in Kenvue by 26.5% in the third quarter. Huntington National Bank now owns 4,161 shares of the company’s stock valued at $96,000 after acquiring an additional 871 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of Kenvue by 2.9% in the 4th quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company’s stock worth $15,846,000 after purchasing an additional 21,222 shares during the last quarter. Alberta Investment Management Corp increased its position in shares of Kenvue by 23.2% during the 4th quarter. Alberta Investment Management Corp now owns 582,895 shares of the company’s stock worth $12,445,000 after purchasing an additional 109,700 shares in the last quarter. Longbow Finance SA lifted its holdings in Kenvue by 5.0% during the 4th quarter. Longbow Finance SA now owns 280,568 shares of the company’s stock valued at $5,990,000 after purchasing an additional 13,287 shares during the last quarter. Finally, CORDA Investment Management LLC. boosted its position in Kenvue by 1.4% in the fourth quarter. CORDA Investment Management LLC. now owns 1,253,096 shares of the company’s stock valued at $26,754,000 after buying an additional 17,466 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Stock Up 2.6 %

Shares of NYSE:KVUE opened at $23.41 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The stock has a market cap of $44.73 billion, a price-to-earnings ratio of 44.16, a P/E/G ratio of 2.62 and a beta of 1.25. The company has a 50 day moving average of $21.89 and a 200-day moving average of $22.40. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.46.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. On average, sell-side analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue’s payout ratio is 154.72%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Citigroup cut their price objective on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and decreased their target price for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. Piper Sandler lifted their price target on Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Finally, Canaccord Genuity Group increased their price objective on shares of Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Kenvue has a consensus rating of “Hold” and a consensus price target of $23.75.

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.