Kenvue Inc. $KVUE Shares Acquired by Cullen Frost Bankers Inc.

Key Points

• Cullen Frost Bankers Inc. increased its Kenvue stake by 19.9% in the fourth quarter, holding 431,394 shares worth about $7.44 million after buying 71,591 additional shares.
• Kenvue’s latest quarterly results topped expectations, with EPS of $0.32 versus the $0.27 consensus and revenue of $3.91 billion, up 4.5% year over year.
• The company announced a quarterly dividend of $0.2075 per share, implying an annualized yield of 4.8%, while analysts currently rate the stock a consensus “Hold” with a $19.33 price target.

Cullen Frost Bankers Inc. increased its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 19.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 431,394 shares of the company's stock after acquiring an additional 71,591 shares during the period. Cullen Frost Bankers Inc.'s holdings in Kenvue were worth $7,442,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Physician Wealth Advisors Inc. boosted its position in shares of Kenvue by 67.5% in the fourth quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company's stock worth $26,000 after acquiring an additional 618 shares during the last quarter. Versor Investments LP boosted its position in shares of Kenvue by 2.8% in the third quarter. Versor Investments LP now owns 26,016 shares of the company's stock worth $422,000 after acquiring an additional 716 shares during the last quarter. Philip James Wealth Mangement LLC boosted its position in shares of Kenvue by 5.5% in the fourth quarter. Philip James Wealth Mangement LLC now owns 13,888 shares of the company's stock worth $240,000 after acquiring an additional 726 shares during the last quarter. Phoenix Financial Ltd. lifted its position in Kenvue by 5.4% during the fourth quarter. Phoenix Financial Ltd. now owns 15,195 shares of the company's stock valued at $262,000 after buying an additional 783 shares in the last quarter. Finally, Titleist Asset Management LLC lifted its position in Kenvue by 1.6% during the third quarter. Titleist Asset Management LLC now owns 50,957 shares of the company's stock valued at $827,000 after buying an additional 796 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

KVUE has been the topic of a number of recent research reports. Citigroup reduced their price target on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 15th. Zacks Research raised shares of Kenvue from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 8th. Canaccord Genuity Group lifted their price target on shares of Kenvue from $17.00 to $18.00 and gave the company a "hold" rating in a research report on Wednesday, February 18th. Argus raised shares of Kenvue to a "hold" rating in a research report on Friday, March 6th. Finally, Barclays dropped their price objective on shares of Kenvue from $19.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, Kenvue currently has an average rating of "Hold" and an average price target of $19.33.

Kenvue Stock Up 1.0%

Shares of NYSE:KVUE opened at $17.33 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. The company has a fifty day simple moving average of $17.42 and a 200 day simple moving average of $17.39. The firm has a market cap of $33.27 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.30 and a beta of 0.55. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $24.35.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The business's revenue was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 earnings per share. On average, equities research analysts anticipate that Kenvue Inc. will post 1.16 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be paid a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Wednesday, May 13th. Kenvue's payout ratio is 97.65%.

Insider Activity

In related news, General Counsel Matthew Orlando sold 38,491 shares of Kenvue stock in a transaction on Friday, May 8th. The shares were sold at an average price of $17.66, for a total value of $679,751.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.59% of the company's stock.

Kenvue Company 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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