Bank of New York Mellon Corp Cuts Holdings in Kenvue Inc. (NYSE:KVUE)

Bank of New York Mellon Corp decreased its position in Kenvue Inc. (NYSE:KVUE) by 13.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 41,251,650 shares of the company’s stock after selling 6,607,060 shares during the period. Bank of New York Mellon Corp’s holdings in Kenvue were worth $880,723,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. IFP Advisors Inc increased its position in shares of Kenvue by 168.4% during the fourth quarter. IFP Advisors Inc now owns 12,197 shares of the company’s stock valued at $263,000 after acquiring an additional 7,652 shares during the last quarter. Howard Capital Management Inc. grew its stake in Kenvue by 5.5% in the 4th quarter. Howard Capital Management Inc. now owns 11,697 shares of the company’s stock valued at $250,000 after purchasing an additional 607 shares during the period. TCW Group Inc. increased its position in shares of Kenvue by 2.6% during the 4th quarter. TCW Group Inc. now owns 24,328 shares of the company’s stock valued at $519,000 after purchasing an additional 621 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Kenvue by 2.4% during the 4th quarter. First Horizon Advisors Inc. now owns 25,047 shares of the company’s stock worth $535,000 after purchasing an additional 580 shares during the period. Finally, Sigma Planning Corp boosted its holdings in shares of Kenvue by 2.5% in the 4th quarter. Sigma Planning Corp now owns 39,641 shares of the company’s stock worth $846,000 after buying an additional 955 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of KVUE opened at $23.33 on Tuesday. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46. The stock’s 50-day simple moving average is $21.33 and its 200 day simple moving average is $22.21. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The stock has a market capitalization of $44.72 billion, a price-to-earnings ratio of 44.01, a price-to-earnings-growth ratio of 2.62 and a beta of 1.45.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Research analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be given a dividend of $0.205 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.52%. Kenvue’s dividend payout ratio (DPR) is currently 154.72%.

Analyst Ratings Changes

A number of research firms recently issued reports on KVUE. Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. Piper Sandler increased their target price on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price target on shares of Kenvue in a report on Monday, February 3rd. Canaccord Genuity Group reduced their price objective on Kenvue from $27.00 to $24.00 and set a “buy” rating for the company in a report on Friday, February 7th. Finally, UBS Group decreased their target price on Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $23.08.

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.