Fifth Third Bancorp Grows Position in Kenvue Inc. $KVUE

Key Points

• Fifth Third Bancorp boosted its Kenvue stake by 167.3% in Q1, ending with 602,532 shares worth about $10.4 million.
• Kenvue reported better-than-expected quarterly results, posting EPS of $0.32 on revenue of $3.91 billion, with sales up 4.5% year over year.
• The stock also pays a 4.4% dividend yield, but its payout ratio is high at 97.65%, and analyst sentiment remains mixed with an average Hold rating.

Fifth Third Bancorp raised its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 167.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 602,532 shares of the company's stock after buying an additional 377,133 shares during the period. Fifth Third Bancorp's holdings in Kenvue were worth $10,388,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of KVUE. Norges Bank purchased a new position in Kenvue in the 4th quarter worth approximately $756,862,000. Independent Franchise Partners LLP increased its position in shares of Kenvue by 56.3% in the 4th quarter. Independent Franchise Partners LLP now owns 48,146,476 shares of the company's stock worth $830,527,000 after purchasing an additional 17,343,785 shares during the last quarter. Sculptor Capital LP raised its stake in Kenvue by 1,023.5% during the fourth quarter. Sculptor Capital LP now owns 12,886,328 shares of the company's stock valued at $222,289,000 after buying an additional 11,739,328 shares in the last quarter. Capitolis Liquid Global Markets LLC raised its position in shares of Kenvue by 1,116.8% during the 4th quarter. Capitolis Liquid Global Markets LLC now owns 10,950,999 shares of the company's stock valued at $188,905,000 after acquiring an additional 10,050,999 shares in the last quarter. Finally, Cibc World Markets Corp bought a new position in shares of Kenvue in the 4th quarter worth about $162,193,000. Hedge funds and other institutional investors own 97.64% of the company's stock.

Insider Buying and Selling at Kenvue

In related news, General Counsel Matthew Orlando sold 38,491 shares of the company's stock in a transaction on Friday, May 8th. The shares were sold at an average price of $17.66, for a total transaction of $679,751.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.59% of the company's stock.

Kenvue Stock Down 2.4%

KVUE opened at $18.76 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.70. The company has a market capitalization of $36.02 billion, a PE ratio of 22.07, a price-to-earnings-growth ratio of 1.46 and a beta of 0.47. The business has a 50-day moving average of $18.12 and a 200-day moving average of $17.82. Kenvue Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $22.87.

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

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were issued a $0.2075 dividend. This represents a $0.83 annualized dividend and a yield of 4.4%. The ex-dividend date was Wednesday, May 13th. Kenvue's payout ratio is 97.65%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KVUE. Zacks Research downgraded Kenvue from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 7th. Weiss Ratings upgraded shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 15th. Wall Street Zen raised Kenvue to a "buy" rating in a report on Sunday. Citigroup dropped their price target on Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, April 15th. Finally, Barclays cut their price objective on Kenvue from $19.00 to $18.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 14th. Three investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $19.33.

About Kenvue

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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