Deutsche Bank AG Trims Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Key Points

• Deutsche Bank AG reduced its stake in Kenvue Inc. by 50.7%, selling over 5.4 million shares in Q1, leaving them with approximately 5.3 million shares worth $126.5 million.
• Kenvue's recent quarterly earnings showed a net margin of 9.37%, with an earnings per share of $0.29, slightly beating analysts' consensus estimate of $0.28.
• The company announced a quarterly dividend of $0.2075 per share, increasing from the previous dividend of $0.21, resulting in an annualized yield of 3.9%.

Deutsche Bank AG lowered its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 50.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,276,652 shares of the company's stock after selling 5,417,300 shares during the quarter. Deutsche Bank AG owned 0.28% of Kenvue worth $126,534,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Pittenger & Anderson Inc. purchased a new position in shares of Kenvue during the 1st quarter valued at approximately $30,000. TruNorth Capital Management LLC purchased a new stake in Kenvue during the 1st quarter worth about $36,000. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of Kenvue by 120.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock worth $41,000 after purchasing an additional 929 shares in the last quarter. Clarity Asset Management Inc. acquired a new position in shares of Kenvue in the fourth quarter valued at approximately $45,000. Finally, Continuum Advisory LLC increased its position in Kenvue by 2,071.1% during the 1st quarter. Continuum Advisory LLC now owns 1,954 shares of the company's stock worth $47,000 after purchasing an additional 1,864 shares during the period. 97.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

KVUE has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their target price on Kenvue from $27.00 to $26.00 and set an "overweight" rating on the stock in a research note on Friday, July 25th. Royal Bank Of Canada dropped their price objective on Kenvue from $24.00 to $22.00 and set a "sector perform" rating for the company in a report on Friday. UBS Group lowered their price target on Kenvue from $25.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Bank of America lowered their target price on Kenvue from $27.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, July 15th. Finally, Canaccord Genuity Group decreased their target price on Kenvue from $29.00 to $26.00 and set a "buy" rating for the company in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Kenvue presently has an average rating of "Hold" and an average price target of $24.38.

Kenvue Stock Up 3.2%

Kenvue stock traded up $0.69 during mid-day trading on Tuesday, reaching $21.91. The company's stock had a trading volume of 16,072,052 shares, compared to its average volume of 19,617,508. The company has a market capitalization of $42.04 billion, a price-to-earnings ratio of 29.61, a price-to-earnings-growth ratio of 4.00 and a beta of 0.83. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.98. The business's 50 day simple moving average is $21.56 and its 200 day simple moving average is $22.42. Kenvue Inc. has a 12 month low of $19.75 and a 12 month high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last announced 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. Kenvue had a net margin of 9.37% and a return on equity of 20.06%. The company had revenue of $3.84 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same period in the previous year, the firm posted $0.32 EPS. The firm's revenue was down 4.0% on a year-over-year basis. As a group, research analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be issued a $0.2075 dividend. This is an increase from Kenvue's previous quarterly dividend of $0.21. This represents a $0.83 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Wednesday, August 13th. Kenvue's dividend payout ratio is currently 110.81%.

About Kenvue

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.