PNC Financial Services Group Inc. Grows Stock Position in Kenvue Inc. $KVUE

Key Points

• PNC Financial Services Group increased its Kenvue stake by 17.2% in the fourth quarter, adding 65,099 shares to reach 444,222 shares valued at about $7.66 million.
• Kenvue reported stronger-than-expected quarterly results, posting $0.32 EPS versus $0.27 expected and revenue of $3.91 billion, up 4.5% year over year.
• The company also declared a quarterly dividend of $0.2075 per share, implying an annualized yield of about 4.7%, while Wall Street’s consensus rating remains Hold.

PNC Financial Services Group Inc. lifted its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 17.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 444,222 shares of the company's stock after purchasing an additional 65,099 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Kenvue were worth $7,663,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Physician Wealth Advisors Inc. grew its holdings in Kenvue by 67.5% during 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 period. Versor Investments LP grew its holdings in Kenvue by 2.8% during 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 period. Philip James Wealth Mangement LLC increased 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 valued at $240,000 after buying an additional 726 shares in the last quarter. Phoenix Financial Ltd. increased its position in shares of Kenvue by 5.4% in 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 increased its position in shares of Kenvue by 1.6% in 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. Hedge funds and other institutional investors own 97.64% of the company's stock.

Insider Buying and Selling at Kenvue

In other news, General Counsel Matthew Orlando sold 38,491 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $17.66, for a total value of $679,751.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.59% of the company's stock.

Kenvue Stock Performance

Shares of KVUE opened at $17.55 on Monday. Kenvue Inc. has a 52-week low of $14.02 and a 52-week high of $24.00. The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The firm has a market cap of $33.69 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 1.33 and a beta of 0.55. The business's 50 day moving average is $17.40 and its two-hundred day moving average is $17.43.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.05. Kenvue had a return on equity of 20.81% and a net margin of 10.61%.The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the previous year, the business earned $0.24 EPS. The business's quarterly revenue was up 4.5% on a year-over-year basis. Analysts forecast that Kenvue Inc. will post 1.16 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Wednesday, May 13th will be issued a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Wednesday, May 13th. Kenvue's payout ratio is 97.65%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on KVUE. UBS Group decreased their price objective on Kenvue from $19.00 to $18.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 7th. Weiss Ratings raised Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 8th. Zacks Research upgraded Kenvue from a "hold" rating to a "strong-buy" rating in a report on Friday, May 8th. Citigroup cut their price objective on Kenvue from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, April 15th. Finally, Canaccord Genuity Group raised their target price on Kenvue from $17.00 to $18.00 and gave the company a "hold" rating in a report on Wednesday, February 18th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat.com, Kenvue has an average rating of "Hold" and an average target price of $19.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.