CIBC Asset Management Inc Buys 18,778 Shares of Kenvue Inc. (NYSE:KVUE)

CIBC Asset Management Inc grew its stake in Kenvue Inc. (NYSE:KVUE) by 4.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 435,776 shares of the company’s stock after acquiring an additional 18,778 shares during the quarter. CIBC Asset Management Inc’s holdings in Kenvue were worth $10,079,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in KVUE. Leo Wealth LLC raised its stake in shares of Kenvue by 0.3% in the third quarter. Leo Wealth LLC now owns 151,611 shares of the company’s stock worth $3,507,000 after purchasing an additional 481 shares during the last quarter. Massmutual Trust Co. FSB ADV raised its stake in shares of Kenvue by 6.2% in the third quarter. Massmutual Trust Co. FSB ADV now owns 8,400 shares of the company’s stock worth $194,000 after purchasing an additional 492 shares during the last quarter. Wolff Wiese Magana LLC raised its stake in shares of Kenvue by 0.7% in the third quarter. Wolff Wiese Magana LLC now owns 76,999 shares of the company’s stock worth $1,781,000 after purchasing an additional 501 shares during the last quarter. Marathon Capital Management raised its stake in shares of Kenvue by 0.3% in the second quarter. Marathon Capital Management now owns 149,699 shares of the company’s stock worth $2,722,000 after purchasing an additional 514 shares during the last quarter. Finally, Poehling Capital Management INC. raised its stake in shares of Kenvue by 0.5% in the second quarter. Poehling Capital Management INC. now owns 104,934 shares of the company’s stock worth $1,908,000 after purchasing an additional 547 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on KVUE. UBS Group boosted their price target on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their price objective on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. upped their price objective on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Piper Sandler upped their price objective on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Finally, Jefferies Financial Group initiated coverage on Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.64.

Kenvue Stock Performance

NYSE KVUE opened at $23.82 on Friday. The firm has a market cap of $45.67 billion, a price-to-earnings ratio of 43.31, a price-to-earnings-growth ratio of 2.10 and a beta of 1.36. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The business has a 50-day moving average price of $22.77 and a 200-day moving average price of $20.69. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.13.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The firm had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 earnings per share. As a group, equities research analysts predict that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is 149.09%.

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.