Kenvue Inc. (NYSE:KVUE) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. decreased its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 1.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,589 shares of the company’s stock after selling 521 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Kenvue were worth $717,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in KVUE. Commonwealth Equity Services LLC grew its holdings in Kenvue by 7.1% in the 2nd quarter. Commonwealth Equity Services LLC now owns 278,747 shares of the company’s stock valued at $5,068,000 after buying an additional 18,506 shares during the period. National Bank of Canada FI boosted its position in shares of Kenvue by 23.8% in the second quarter. National Bank of Canada FI now owns 417,999 shares of the company’s stock worth $7,527,000 after acquiring an additional 80,272 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Kenvue by 54.9% in the second quarter. Victory Capital Management Inc. now owns 799,225 shares of the company’s stock valued at $14,530,000 after purchasing an additional 283,383 shares during the period. Candriam S.C.A. increased its position in Kenvue by 20.8% during the second quarter. Candriam S.C.A. now owns 85,878 shares of the company’s stock worth $1,561,000 after purchasing an additional 14,784 shares during the last quarter. Finally, Acadian Asset Management LLC purchased a new position in Kenvue during the second quarter worth approximately $412,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Kenvue stock opened at $21.08 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The firm’s fifty day moving average price is $22.81 and its 200 day moving average price is $21.53. The company has a market capitalization of $40.42 billion, a price-to-earnings ratio of 38.33, a price-to-earnings-growth ratio of 2.02 and a beta of 1.46. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46.

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

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date was Wednesday, November 13th. Kenvue’s payout ratio is currently 149.09%.

Analysts Set New Price Targets

KVUE has been the subject of a number of research analyst reports. Piper Sandler upgraded Kenvue from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $21.00 to $26.00 in a report on Monday. Bank of America raised their price objective on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Jefferies Financial Group initiated coverage on Kenvue in a report on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price for the company. Royal Bank of Canada raised shares of Kenvue from a “hold” rating to a “moderate buy” rating in a research report on Monday, December 9th. Finally, 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 research note on Thursday, December 12th. One equities research 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.com, the stock presently has a consensus rating of “Hold” and an average price target of $23.09.

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.