Comerica Bank Cuts Stock Position in Kenvue Inc. $KVUE

Comerica Bank cut its holdings in Kenvue Inc. (NYSE:KVUE – Free Report) by 18.7% in the fourth quarter, HoldingsChannel reports. The firm owned 332,195 shares of the company’s stock after selling 76,180 shares during the quarter. Comerica Bank’s holdings in Kenvue were worth $5,730,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Kenvue by 27.1% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 310,686 shares of the company’s stock valued at $5,042,000 after buying an additional 66,192 shares in the last quarter. Allstate Corp bought a new position in Kenvue during the 3rd quarter valued at about $1,152,000. Aberdeen Group plc grew its holdings in Kenvue by 84.1% during the 3rd quarter. Aberdeen Group plc now owns 1,411,380 shares of the company’s stock valued at $22,914,000 after purchasing an additional 644,930 shares during the last quarter. Oak Thistle LLC bought a new position in Kenvue during the 4th quarter valued at about $1,563,000. Finally, Eubel Brady & Suttman Asset Management Inc. grew its holdings in Kenvue by 39.7% during the 3rd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 1,371,886 shares of the company’s stock valued at $22,266,000 after purchasing an additional 389,704 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on KVUE shares. Argus upgraded shares of Kenvue to a “hold” rating in a report on Friday, March 6th. Citigroup cut their price target on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, April 15th. Jefferies Financial Group downgraded shares of Kenvue from a “buy” rating to a “hold” rating and cut their price target for the company from $23.00 to $18.00 in a report on Friday, January 30th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Kenvue in a report on Wednesday, April 8th. Finally, UBS Group cut their price target on shares of Kenvue from $19.00 to $18.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Three investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $19.33.

Check Out Our Latest Stock Analysis on Kenvue

Kenvue Price Performance

Shares of KVUE stock opened at $17.58 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.96 and a quick ratio of 0.68. The company has a market capitalization of $33.74 billion, a P/E ratio of 22.82, a P/E/G ratio of 3.91 and a beta of 0.61. The company’s 50-day simple moving average is $17.72 and its two-hundred day simple moving average is $17.17. Kenvue Inc. has a one year low of $14.02 and a one year high of $25.17.

Kenvue (NYSE:KVUE – Get Free Report) last issued its earnings results on Tuesday, February 17th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. The business had revenue of $3.78 billion for the quarter, compared to the consensus estimate of $3.68 billion. Kenvue had a net margin of 9.72% and a return on equity of 19.72%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. As a group, equities analysts anticipate that Kenvue Inc. will post 1.1 EPS for the current year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th will be given a $0.2075 dividend. This represents a $0.83 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Wednesday, May 13th. Kenvue’s dividend payout ratio is presently 107.79%.

About Kenvue

(Free Report)

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.

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