Hsbc Holdings PLC Decreases Stock Position in Kenvue Inc. (NYSE:KVUE)

Hsbc Holdings PLC decreased its position in shares of Kenvue Inc. (NYSE:KVUE) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,592,567 shares of the company’s stock after selling 12,511 shares during the period. Hsbc Holdings PLC owned approximately 0.14% of Kenvue worth $47,185,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Manchester Capital Management LLC boosted its stake in Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after buying an additional 530 shares during the last quarter. Mather Group LLC. bought a new position in shares of Kenvue during the 1st quarter valued at approximately $28,000. Riverview Trust Co purchased a new position in shares of Kenvue in the first quarter valued at $33,000. MV Capital Management Inc. grew its holdings in shares of Kenvue by 71.2% in the first quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock valued at $33,000 after purchasing an additional 642 shares in the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in Kenvue in the first quarter worth $33,000. 97.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on KVUE. Citigroup lowered their price objective 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. UBS Group increased their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and set a $24.00 price objective on shares of Kenvue in a research note on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $21.44.

Kenvue Trading Up 0.5 %

KVUE opened at $23.02 on Friday. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.55. 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 stock has a market cap of $44.08 billion, a price-to-earnings ratio of 29.51, a P/E/G ratio of 2.92 and a beta of 1.40. The stock’s 50 day moving average price is $20.92 and its 200-day moving average price is $19.96.

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

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.56%. This is a boost from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, August 14th. Kenvue’s payout ratio is 105.13%.

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.