Bank of New York Mellon Corp Sells 5,465,449 Shares of Kenvue Inc. (NYSE:KVUE)

Bank of New York Mellon Corp decreased its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 13.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 35,786,201 shares of the company's stock after selling 5,465,449 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.87% of Kenvue worth $858,153,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in KVUE. Fulton Bank N.A. lifted its holdings in Kenvue by 0.6% during the 1st quarter. Fulton Bank N.A. now owns 78,888 shares of the company's stock worth $1,892,000 after purchasing an additional 465 shares in the last quarter. Scott & Selber Inc. raised its holdings in shares of Kenvue by 0.4% during the 1st quarter. Scott & Selber Inc. now owns 106,621 shares of the company's stock valued at $2,557,000 after buying an additional 475 shares in the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Kenvue by 67.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock valued at $30,000 after buying an additional 571 shares in the last quarter. Keystone Financial Group raised its holdings in shares of Kenvue by 4.8% during the 4th quarter. Keystone Financial Group now owns 12,736 shares of the company's stock valued at $272,000 after buying an additional 578 shares in the last quarter. Finally, Transatlantique Private Wealth LLC raised its holdings in shares of Kenvue by 5.7% during the 4th quarter. Transatlantique Private Wealth LLC now owns 10,680 shares of the company's stock valued at $228,000 after buying an additional 580 shares in the last quarter. Institutional investors own 97.64% of the company's stock.

Kenvue Trading Up 0.6%

NYSE KVUE opened at $21.02 on Friday. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $25.17. The stock has a market cap of $40.32 billion, a P/E ratio of 38.21, a P/E/G ratio of 3.27 and a beta of 0.83. The stock's fifty day moving average price is $22.61 and its 200-day moving average price is $22.31. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.23 by $0.01. Kenvue had a return on equity of 20.87% and a net margin of 6.90%. The company had revenue of $3.74 billion for the quarter, compared to analysts' expectations of $3.69 billion. During the same period last year, the firm posted $0.28 earnings per share. Kenvue's revenue was down 3.9% compared to the same quarter last year. As a group, equities analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were given a dividend of $0.205 per share. The ex-dividend date was Wednesday, May 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.90%. Kenvue's dividend payout ratio (DPR) is presently 149.09%.

Analysts Set New Price Targets

A number of brokerages have commented on KVUE. Citigroup reaffirmed a "neutral" rating on shares of Kenvue in a research note on Friday, June 13th. UBS Group boosted their target price on Kenvue from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Redburn Atlantic assumed coverage on Kenvue in a research note on Thursday, April 10th. They set a "neutral" rating and a $23.50 target price on the stock. Evercore ISI assumed coverage on Kenvue in a research note on Monday, March 24th. They issued an "in-line" rating and a $25.00 price target on the stock. Finally, Barclays upped their price target on Kenvue from $22.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $25.33.

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.

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