Citizens Business Bank Sells 4,653 Shares of Kenvue Inc. (NYSE:KVUE)

Citizens Business Bank reduced its position in shares of Kenvue Inc. (NYSE:KVUE) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 120,196 shares of the company’s stock after selling 4,653 shares during the quarter. Citizens Business Bank’s holdings in Kenvue were worth $2,588,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. purchased a new position in shares of Kenvue in the third quarter worth $2,944,816,000. FMR LLC lifted its holdings in Kenvue by 572.1% during the third quarter. FMR LLC now owns 89,182,980 shares of the company’s stock valued at $1,790,794,000 after purchasing an additional 75,913,107 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Kenvue by 576.1% in the 3rd quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock worth $1,439,472,000 after buying an additional 61,084,123 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Kenvue by 227.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock worth $1,226,711,000 after buying an additional 42,449,470 shares in the last quarter. Finally, Morgan Stanley raised its stake in Kenvue by 4,057.4% in the 3rd quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock valued at $625,745,000 after purchasing an additional 30,413,040 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

KVUE has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their price target on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Royal Bank of Canada decreased their price target on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, February 9th. William Blair started coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They issued a “market perform” rating for the company. The Goldman Sachs Group initiated coverage on Kenvue in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 target price for the company. Finally, Sanford C. Bernstein started coverage on Kenvue in a report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Kenvue has a consensus rating of “Hold” and an average price target of $24.85.

Kenvue Stock Down 1.3 %

Shares of NYSE:KVUE traded down $0.24 during midday trading on Tuesday, hitting $18.82. The company had a trading volume of 26,741,112 shares, compared to its average volume of 16,772,949. The firm has a fifty day simple moving average of $19.84 and a 200 day simple moving average of $20.14. Kenvue Inc. has a 12 month low of $17.82 and a 12 month high of $27.80. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, February 8th. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. The business had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.78 billion. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. As a group, equities research analysts expect that Kenvue Inc. will post 1.15 earnings per share for the current year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.80 annualized dividend and a dividend yield of 4.25%.

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.