National Bank of Canada FI Sells 403,434 Shares of Kenvue Inc. (NYSE:KVUE)

Key Points

• National Bank of Canada FI reduced its holdings in Kenvue Inc. by 33.2%, now owning 812,119 shares valued at approximately $19.5 million.
• Kenvue plans to increase its quarterly dividend to $0.2075 per share, with a dividend yield of 3.9%, representing a boost from the previous $0.21.
• Analysts have lowered price targets for Kenvue, with recent estimates ranging from $22.00 to $23.00, while the consensus rating remains a "Hold" with an average target of $24.38.

National Bank of Canada FI cut its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 33.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 812,119 shares of the company's stock after selling 403,434 shares during the period. National Bank of Canada FI's holdings in Kenvue were worth $19,475,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in KVUE. Pittenger & Anderson Inc. purchased a new position in shares of Kenvue during the first quarter valued at approximately $30,000. TruNorth Capital Management LLC purchased a new position in shares of Kenvue during the first quarter valued at approximately $36,000. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Kenvue by 120.6% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company's stock valued at $41,000 after buying an additional 929 shares during the period. Clarity Asset Management Inc. purchased a new position in shares of Kenvue during the fourth quarter valued at approximately $45,000. Finally, Continuum Advisory LLC increased its stake in shares of Kenvue by 2,071.1% during the first quarter. Continuum Advisory LLC now owns 1,954 shares of the company's stock valued at $47,000 after buying an additional 1,864 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KVUE shares. Bank of America reduced their target price on Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Citigroup reduced their price target on Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Canaccord Genuity Group reduced their price target on Kenvue from $29.00 to $26.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Royal Bank Of Canada reduced their price target on Kenvue from $24.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Friday, August 8th. Finally, UBS Group reduced their price target on Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $24.38.

Kenvue Stock Down 3.0%

Kenvue stock traded down $0.66 during mid-day trading on Thursday, hitting $21.06. The company had a trading volume of 12,702,051 shares, compared to its average volume of 17,567,369. The company has a market capitalization of $40.41 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 3.15 and a beta of 0.83. The company has a current ratio of 0.98, a quick ratio of 0.68 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 stock's 50 day moving average price is $21.56 and its two-hundred day moving average price is $22.42.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. The firm had revenue of $3.84 billion for the quarter, compared to the consensus estimate of $3.94 billion. Kenvue had a return on equity of 20.06% and a net margin of 9.37%. The company's quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. As a group, sell-side analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be issued a dividend of $0.2075 per share. The ex-dividend date of this dividend is Wednesday, August 13th. This is an increase from Kenvue's previous quarterly dividend of $0.21. This represents a $0.83 dividend on an annualized basis and a dividend yield of 3.9%. Kenvue's dividend 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.