US Bancorp DE Acquires 54,729 Shares of Kenvue Inc. (NYSE:KVUE)

US Bancorp DE lifted its stake in Kenvue Inc. (NYSE:KVUE) by 111.7% in the fourth quarter, Holdings Channel.com reports. The firm owned 103,733 shares of the company’s stock after acquiring an additional 54,729 shares during the quarter. US Bancorp DE’s holdings in Kenvue were worth $2,233,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Clearstead Advisors LLC bought a new position in Kenvue during the third quarter valued at about $25,000. Planned Solutions Inc. bought a new stake in Kenvue during the fourth quarter worth approximately $27,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of Kenvue in the fourth quarter valued at approximately $28,000. CVA Family Office LLC acquired a new stake in shares of Kenvue in the fourth quarter worth $32,000. Finally, Hollencrest Capital Management acquired a new position in Kenvue in the 3rd quarter valued at $33,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KVUE. Bank of America boosted their price objective on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their price objective on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Jefferies Financial Group began coverage on Kenvue in a research note on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price for the company. Citigroup lowered their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a 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 issued a buy rating to the company. According to data from MarketBeat.com, Kenvue has a consensus rating of “Hold” and an average price target of $22.64.

Kenvue Trading Up 1.5 %

Kenvue stock traded up $0.34 during midday trading on Tuesday, hitting $23.38. 2,193,108 shares of the stock were exchanged, compared to its average volume of 18,033,146. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $23.55. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $44.78 billion, a PE ratio of 39.72, a P/E/G ratio of 2.97 and a beta of 1.36. The company has a fifty day simple moving average of $22.55 and a two-hundred day simple moving average of $20.45.

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

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be given a dividend of $0.205 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.51%. Kenvue’s dividend payout ratio (DPR) is presently 141.38%.

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.