Canandaigua National Bank & Trust Co. Cuts Stake in Kenvue Inc. (NYSE:KVUE)

Canandaigua National Bank & Trust Co. decreased its holdings in Kenvue Inc. (NYSE:KVUE) by 5.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,110 shares of the company’s stock after selling 2,125 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Kenvue were worth $789,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in KVUE. Manchester Capital Management LLC boosted its stake in shares of Kenvue by 80.8% in the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after purchasing an additional 530 shares in the last quarter. Mather Group LLC. purchased a new stake in shares of Kenvue in the 1st quarter valued at $28,000. Riverview Trust Co purchased a new stake in Kenvue during the 1st quarter valued at $33,000. MV Capital Management Inc. boosted its position in Kenvue by 71.2% during the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock valued at $33,000 after buying an additional 642 shares during the period. Finally, Salomon & Ludwin LLC purchased a new stake in Kenvue during the 1st quarter valued at $33,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Down 0.5 %

Shares of Kenvue stock traded down $0.11 during trading on Friday, hitting $22.16. The company’s stock had a trading volume of 8,451,647 shares, compared to its average volume of 18,410,244. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99. The company has a fifty day simple moving average of $21.84 and a two-hundred day simple moving average of $20.16. The company has a market capitalization of $42.43 billion, a PE ratio of 28.41, a P/E/G ratio of 2.92 and a beta of 1.40. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $23.55.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.04. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. Kenvue’s quarterly revenue was down .3% compared to the same quarter last year. During the same period last year, the business earned $0.32 EPS. Equities research analysts predict that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.70%. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, August 14th. Kenvue’s dividend payout ratio (DPR) is presently 105.13%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Jefferies Financial Group assumed 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 increased their price target on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada cut shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target for the company. in a research report on Tuesday, September 24th. Citigroup dropped their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $22.10.

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.