CIBC Asset Management Inc Purchases 18,778 Shares of Kenvue Inc. (NYSE:KVUE)

CIBC Asset Management Inc raised its stake in shares of Kenvue Inc. (NYSE:KVUE) by 4.5% during the third quarter, HoldingsChannel reports. The firm owned 435,776 shares of the company’s stock after buying an additional 18,778 shares during the quarter. CIBC Asset Management Inc’s holdings in Kenvue were worth $10,079,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KVUE. Leo Wealth LLC raised its holdings in shares of Kenvue by 0.3% in the third quarter. Leo Wealth LLC now owns 151,611 shares of the company’s stock worth $3,507,000 after buying an additional 481 shares during the period. Massmutual Trust Co. FSB ADV increased its holdings in Kenvue by 6.2% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 8,400 shares of the company’s stock worth $194,000 after purchasing an additional 492 shares during the period. Wolff Wiese Magana LLC increased its holdings in Kenvue by 0.7% during the 3rd quarter. Wolff Wiese Magana LLC now owns 76,999 shares of the company’s stock worth $1,781,000 after purchasing an additional 501 shares during the period. Marathon Capital Management increased its holdings in Kenvue by 0.3% during the 2nd quarter. Marathon Capital Management now owns 149,699 shares of the company’s stock worth $2,722,000 after purchasing an additional 514 shares during the period. Finally, Poehling Capital Management INC. boosted its position in Kenvue by 0.5% during the 2nd quarter. Poehling Capital Management INC. now owns 104,934 shares of the company’s stock valued at $1,908,000 after acquiring an additional 547 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Stock Performance

NYSE KVUE opened at $23.82 on Friday. The stock has a 50-day simple moving average of $22.77 and a two-hundred day simple moving average of $20.69. The firm has a market capitalization of $45.67 billion, a P/E ratio of 43.31, a PEG ratio of 2.10 and a beta of 1.36. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $24.13. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00.

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

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.205 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 annualized dividend and a dividend yield of 3.44%. Kenvue’s dividend payout ratio is presently 149.09%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KVUE. Jefferies Financial Group began coverage on Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price on the stock. JPMorgan Chase & Co. raised their price objective on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft raised their price objective on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target for the company. in a research report on Tuesday, September 24th. Finally, UBS Group lifted their price target on Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. One 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 MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $22.64.

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.