M&T Bank Corp Boosts Holdings in Kenvue Inc. (NYSE:KVUE)

M&T Bank Corp increased its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 11.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 118,131 shares of the company's stock after purchasing an additional 12,584 shares during the period. M&T Bank Corp's holdings in Kenvue were worth $2,832,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in KVUE. Clarity Asset Management Inc. purchased a new position in shares of Kenvue during the 4th quarter worth approximately $45,000. Continuum Advisory LLC boosted its position in shares of 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. Rossby Financial LCC purchased a new position in shares of Kenvue during the 1st quarter worth approximately $52,000. Golden State Wealth Management LLC boosted its position in shares of Kenvue by 292.0% during the 1st quarter. Golden State Wealth Management LLC now owns 3,081 shares of the company's stock worth $74,000 after purchasing an additional 2,295 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of Kenvue by 77.9% during the 1st quarter. Versant Capital Management Inc now owns 3,415 shares of the company's stock worth $82,000 after purchasing an additional 1,495 shares during the period. Hedge funds and other institutional investors own 97.64% of the company's stock.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $21.35 on Friday. The company's fifty day moving average price is $22.34 and its 200 day moving average price is $22.29. Kenvue Inc. has a 12 month low of $17.85 and a 12 month high of $25.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.60. The firm has a market capitalization of $40.96 billion, a P/E ratio of 38.82, a P/E/G ratio of 3.25 and a beta of 0.83.

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

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.82 annualized dividend and a yield of 3.84%. Kenvue's dividend payout ratio is currently 149.09%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on KVUE. Redburn Atlantic assumed coverage on shares of Kenvue in a research report on Thursday, April 10th. They set a "neutral" rating and a $23.50 price objective for the company. Citigroup reiterated a "neutral" rating on shares of Kenvue in a report on Friday, June 13th. Evercore ISI assumed coverage on shares of Kenvue in a report on Monday, March 24th. They set an "in-line" rating and a $25.00 target price on the stock. Barclays increased their target price on shares of Kenvue from $22.00 to $23.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Finally, UBS Group increased their target price on shares of Kenvue from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $25.33.

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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