Kenvue Inc. (NYSE:KVUE) Shares Sold by Umpqua Bank

Umpqua Bank lessened its stake in shares of Kenvue Inc. (NYSE:KVUE) by 4.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,286 shares of the company’s stock after selling 508 shares during the quarter. Umpqua Bank’s holdings in Kenvue were worth $223,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in Kenvue by 23.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after purchasing an additional 25,238,112 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Kenvue by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after acquiring an additional 17,908,497 shares in the last quarter. Norges Bank acquired a new position in shares of Kenvue in the 4th quarter worth $282,100,000. Van ECK Associates Corp raised its position in shares of Kenvue by 110.9% during the second quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after purchasing an additional 10,783,258 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in shares of Kenvue by 16,051.1% during the first quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock valued at $210,600,000 after purchasing an additional 9,752,836 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KVUE. Deutsche Bank Aktiengesellschaft lifted their price target on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Citigroup decreased their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $24.00 price target on shares of Kenvue in a report on Wednesday, August 7th. Finally, UBS Group boosted their price objective on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Kenvue presently has a consensus rating of “Hold” and a consensus price target of $21.44.

Kenvue Stock Up 1.6 %

Kenvue stock opened at $22.86 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $23.00. The firm’s fifty day simple moving average is $19.92 and its 200-day simple moving average is $19.67. The company has a market capitalization of $43.77 billion, a P/E ratio of 29.31, a P/E/G ratio of 2.76 and a beta of 1.40.

Kenvue (NYSE:KVUE) last posted its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.04. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.93 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The business’s revenue was down .3% compared to the same quarter last year. During the same period last year, the company earned $0.32 earnings per share. Sell-side analysts forecast that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were given a dividend of $0.205 per share. The ex-dividend date was Wednesday, August 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.59%. This is a boost from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s dividend payout ratio is presently 105.13%.

Kenvue Company Profile

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.