Bank of New York Mellon Corp Sells 223,497 Shares of Kenvue Inc. $KVUE

Key Points

• Bank of New York Mellon trimmed its Kenvue stake by 2.0% in the first quarter, selling 223,497 shares and still holding about 10.86 million shares worth roughly $187.3 million.
• Kenvue’s latest quarterly results beat expectations, with EPS of $0.32 versus the $0.27 consensus and revenue of $3.91 billion, up 4.5% year over year.
• The stock also pays a sizable dividend, with a quarterly payout of $0.2075 per share that annualizes to $0.83 and implies a 4.4% yield, though the payout ratio is high at 97.65%.

Bank of New York Mellon Corp lowered its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 2.0% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 10,864,537 shares of the company's stock after selling 223,497 shares during the period. Bank of New York Mellon Corp owned approximately 0.57% of Kenvue worth $187,305,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Oak Thistle LLC bought a new position in Kenvue during the 4th quarter worth $1,563,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Kenvue by 25.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 410,874 shares of the company's stock valued at $7,088,000 after acquiring an additional 84,219 shares in the last quarter. SG Americas Securities LLC increased its position in Kenvue by 3,889.9% during the fourth quarter. SG Americas Securities LLC now owns 3,075,723 shares of the company's stock worth $53,056,000 after acquiring an additional 2,998,635 shares during the period. Cohen Capital Management Inc. bought a new position in Kenvue during the fourth quarter worth about $2,448,000. Finally, State of Wyoming raised its stake in Kenvue by 233.5% in the 4th quarter. State of Wyoming now owns 97,992 shares of the company's stock worth $1,690,000 after purchasing an additional 68,609 shares in the last quarter. 97.64% of the stock is owned by institutional investors.

Kenvue Trading Down 0.4%

KVUE opened at $18.94 on Friday. Kenvue Inc. has a twelve month low of $14.02 and a twelve month high of $22.87. The company has a 50-day simple moving average of $18.20 and a 200 day simple moving average of $17.85. The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $36.37 billion, a price-to-earnings ratio of 22.28, a P/E/G ratio of 1.44 and a beta of 0.47.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.05. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The firm had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the prior year, the company posted $0.24 earnings per share. The business's revenue for the quarter was up 4.5% on a year-over-year basis. Analysts predict that Kenvue Inc. will post 1.16 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were paid a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Wednesday, May 13th. Kenvue's dividend payout ratio (DPR) is 97.65%.

Insider Buying and Selling

In other Kenvue news, General Counsel Matthew Orlando sold 38,491 shares of the business's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $17.66, for a total transaction of $679,751.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.59% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Wall Street Zen raised shares of Kenvue to a "buy" rating in a report on Sunday, July 12th. Zacks Research cut shares of Kenvue from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. UBS Group lifted their price target on shares of Kenvue from $18.00 to $20.00 and gave the company a "neutral" rating in a research report on Thursday. Barclays cut their price target on Kenvue from $19.00 to $18.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 14th. Finally, Weiss Ratings raised Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 15th. Three research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, Kenvue presently has an average rating of "Hold" and an average price target of $19.50.

Kenvue Profile

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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