Kenvue Inc. (NYSE:KVUE) Stock Holdings Boosted by Citigroup Inc.

Key Points

• Citigroup Inc. significantly increased its stake in Kenvue Inc. by 214.2% during the 1st quarter, now holding over 4.2 million shares valued at approximately $100.9 million.
• Kenvue recently declared a quarterly dividend of $0.2075, an increase from the previous dividend, providing shareholders an annual yield of 3.9%.
• Despite beating EPS estimates with $0.29 earnings per share, Kenvue's revenue decreased by 4% year-over-year, totaling $3.84 billion for the quarter.

Citigroup Inc. lifted its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 214.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,205,777 shares of the company's stock after buying an additional 2,867,363 shares during the period. Citigroup Inc. owned approximately 0.22% of Kenvue worth $100,855,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Fulton Bank N.A. boosted its holdings in shares of Kenvue by 0.6% in the first quarter. Fulton Bank N.A. now owns 78,888 shares of the company's stock valued at $1,892,000 after acquiring an additional 465 shares in the last quarter. Scott & Selber Inc. raised its position in Kenvue by 0.4% during the first quarter. Scott & Selber Inc. now owns 106,621 shares of the company's stock worth $2,557,000 after acquiring an additional 475 shares during the last quarter. Wealth Alliance LLC raised its position in Kenvue by 1.6% during the first quarter. Wealth Alliance LLC now owns 31,778 shares of the company's stock worth $762,000 after acquiring an additional 486 shares during the last quarter. Keystone Financial Group raised its position in Kenvue by 4.8% during the fourth quarter. Keystone Financial Group now owns 12,736 shares of the company's stock worth $272,000 after acquiring an additional 578 shares during the last quarter. Finally, Transatlantique Private Wealth LLC grew its holdings in shares of Kenvue by 5.7% during the fourth quarter. Transatlantique Private Wealth LLC now owns 10,680 shares of the company's stock worth $228,000 after buying an additional 580 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on KVUE shares. Bank of America lowered their price target on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. Royal Bank Of Canada lowered their target price on shares of Kenvue from $24.00 to $22.00 and set a "sector perform" rating for the company in a report on Friday, August 8th. JPMorgan Chase & Co. lowered their target price on shares of Kenvue from $27.00 to $26.00 and set an "overweight" rating for the company in a report on Friday, July 25th. UBS Group decreased their price objective on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Finally, Canaccord Genuity Group reduced their target price on shares of Kenvue from $29.00 to $26.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $24.38.

Kenvue Stock Down 0.8%

KVUE traded down $0.17 during trading on Wednesday, hitting $21.52. The company had a trading volume of 1,477,855 shares, compared to its average volume of 17,535,465. The company has a market cap of $41.30 billion, a PE ratio of 29.07, a P/E/G ratio of 4.00 and a beta of 0.83. The business has a 50-day moving average of $21.56 and a 200-day moving average of $22.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.68. Kenvue Inc. has a 1-year low of $19.75 and a 1-year high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.01. The firm had revenue of $3.84 billion for the quarter, compared to analysts' expectations of $3.94 billion. Kenvue had a net margin of 9.37% and a return on equity of 20.06%. The firm's quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. As a group, analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be issued a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a dividend yield of 3.9%. This is a positive change from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 13th. Kenvue's dividend payout ratio is currently 110.81%.

Kenvue 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.