Chevy Chase Trust Holdings LLC Acquires 91,056 Shares of Kenvue Inc. (NYSE:KVUE)

Chevy Chase Trust Holdings LLC grew its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 9.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,046,754 shares of the company’s stock after buying an additional 91,056 shares during the quarter. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Kenvue worth $19,030,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of KVUE. Stephens Inc. AR raised its position in Kenvue by 86.1% during the fourth quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock worth $1,242,000 after acquiring an additional 26,700 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Kenvue by 60.4% in the 4th quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock valued at $16,041,000 after purchasing an additional 280,591 shares during the period. Raleigh Capital Management Inc. lifted its stake in Kenvue by 93,834.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 43,210 shares of the company’s stock valued at $930,000 after purchasing an additional 43,164 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Kenvue by 2.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock worth $34,417,000 after purchasing an additional 40,995 shares during the period. Finally, Cornerstone Wealth Group LLC increased its position in Kenvue by 176.2% during the first quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock worth $7,519,000 after buying an additional 223,537 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Price Performance

KVUE stock traded down $0.09 during midday trading on Tuesday, reaching $21.55. 11,278,561 shares of the stock were exchanged, compared to its average volume of 19,047,125. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.10. The company has a fifty day moving average price of $18.93 and a 200 day moving average price of $19.44. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The stock has a market capitalization of $41.26 billion, a PE ratio of 27.59, a P/E/G ratio of 2.07 and a beta of 1.38.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.04. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same quarter in the prior year, the firm posted $0.32 earnings per share. The firm’s revenue was down .3% compared to the same quarter last year. As a group, analysts expect that Kenvue Inc. will post 1.13 EPS for the current fiscal year.

Kenvue Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.81%. This is an increase from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, August 14th. Kenvue’s dividend payout ratio is presently 105.13%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. UBS Group raised their price objective on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price target on Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. HSBC upped their price objective on shares of Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Royal Bank of Canada restated an “outperform” rating and set a $24.00 target price on shares of Kenvue in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.64.

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.