Zurcher Kantonalbank Zurich Cantonalbank Purchases 63,657 Shares of Kenvue Inc. (NYSE:KVUE)

Key Points

• Zurcher Kantonalbank increased its stake in Kenvue Inc. by 17.2% during the 1st quarter, bringing its holdings to 433,465 shares valued at approximately $10.39 million.
• Kenvue recently announced a quarterly dividend increase to $0.2075 per share, representing a dividend yield of 3.82% and a payout ratio of 149.09%.
• Research analysts have lowered their price targets on Kenvue shares, with an average consensus price target now set at $24.79, indicating a cautious outlook with several "hold" ratings.

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 17.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 433,465 shares of the company's stock after purchasing an additional 63,657 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Kenvue were worth $10,394,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Fulton Bank N.A. lifted its stake in shares of Kenvue by 0.6% in 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 during the period. Scott & Selber Inc. lifted its position in Kenvue by 0.4% in the first quarter. Scott & Selber Inc. now owns 106,621 shares of the company's stock worth $2,557,000 after buying an additional 475 shares during the last quarter. Wealth Alliance LLC lifted its position in shares of 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 purchasing an additional 486 shares during the last quarter. Keystone Financial Group increased its stake in shares of Kenvue by 4.8% during the fourth quarter. Keystone Financial Group now owns 12,736 shares of the company's stock valued at $272,000 after buying an additional 578 shares during the period. Finally, Transatlantique Private Wealth LLC raised its holdings in Kenvue by 5.7% in the fourth quarter. Transatlantique Private Wealth LLC now owns 10,680 shares of the company's stock worth $228,000 after purchasing an additional 580 shares in the last quarter. Institutional investors own 97.64% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on KVUE shares. Barclays dropped their target price on Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 15th. JPMorgan Chase & Co. reduced their price objective on Kenvue from $27.00 to $26.00 and set an "overweight" rating for the company in a research note on Friday, July 25th. Bank of America dropped their target price on Kenvue from $27.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, July 15th. 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. Finally, Citigroup lowered their price target on Kenvue from $24.50 to $22.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $24.79.

Kenvue Stock Up 0.7%

KVUE traded up $0.16 on Friday, reaching $21.60. The company's stock had a trading volume of 13,846,355 shares, compared to its average volume of 18,076,148. The business's 50 day moving average is $21.82 and its 200 day moving average is $22.39. Kenvue Inc. has a 1 year low of $18.10 and a 1 year high of $25.17. The stock has a market cap of $41.44 billion, a price-to-earnings ratio of 39.27, a price-to-earnings-growth ratio of 3.62 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.60.

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

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be given a dividend of $0.2075 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This is a positive change from Kenvue's previous quarterly dividend of $0.21. This represents a $0.83 annualized dividend and a yield of 3.8%. Kenvue's payout ratio is presently 150.91%.

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.