Kenvue Inc. (NYSE:KVUE) Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Kenvue Inc. by 24.2% in the first quarter, owning 110,441 shares worth approximately $2.6 million after selling 35,189 shares.
• Kenvue recently declared a quarterly dividend of $0.2075 per share, representing a 3.8% yield, which is an increase from the previous dividend of $0.21.
• Several analysts have cut their price targets for Kenvue, with the consensus rating currently at "Hold" and an average target price of $24.38.

Gulf International Bank UK Ltd cut its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 24.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,441 shares of the company's stock after selling 35,189 shares during the period. Gulf International Bank UK Ltd's holdings in Kenvue were worth $2,648,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fulton Bank N.A. boosted its stake in shares of Kenvue by 0.6% during the 1st quarter. Fulton Bank N.A. now owns 78,888 shares of the company's stock valued at $1,892,000 after buying an additional 465 shares during the period. Scott & Selber Inc. boosted its stake in shares of Kenvue by 0.4% during the 1st quarter. Scott & Selber Inc. now owns 106,621 shares of the company's stock valued at $2,557,000 after buying an additional 475 shares during the period. Wealth Alliance LLC boosted its stake in shares of Kenvue by 1.6% during the 1st quarter. Wealth Alliance LLC now owns 31,778 shares of the company's stock valued at $762,000 after buying an additional 486 shares during the period. Everett Harris & Co. CA raised its holdings in shares of Kenvue by 1.4% during the 1st quarter. Everett Harris & Co. CA now owns 36,971 shares of the company's stock valued at $887,000 after purchasing an additional 500 shares in the last quarter. Finally, Transatlantique Private Wealth LLC raised its holdings in shares of Kenvue by 5.7% during the 4th quarter. Transatlantique Private Wealth LLC now owns 10,680 shares of the company's stock valued at $228,000 after purchasing an additional 580 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the stock. Bank of America cut their price target on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. Canaccord Genuity Group cut their price target on shares of Kenvue from $29.00 to $26.00 and set a "buy" rating on the stock in a report on Friday, August 8th. JPMorgan Chase & Co. cut their price target on shares of Kenvue from $27.00 to $26.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Barclays cut their price target on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Finally, UBS Group cut their price target on shares of Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $24.38.

Kenvue Stock Down 0.8%

Shares of KVUE stock opened at $21.73 on Thursday. The firm has a fifty day moving average of $21.56 and a 200-day moving average of $22.42. The company has a quick ratio of 0.68, a current ratio of 0.98 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 12-month low of $19.75 and a 12-month high of $25.17. The company has a market capitalization of $41.70 billion, a price-to-earnings ratio of 29.37, a P/E/G ratio of 3.15 and a beta of 0.83.

Kenvue (NYSE:KVUE - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.29 EPS for the quarter, topping 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 business had revenue of $3.84 billion during the quarter, compared to analysts' expectations of $3.94 billion. During the same quarter in the prior year, the company posted $0.32 earnings per share. The firm's revenue was down 4.0% on a year-over-year basis. As a group, equities research analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be given a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a yield of 3.8%. This is an increase from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 13th. Kenvue's 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.

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