Truist Financial Corp Has $16.46 Million Holdings in Kenvue Inc. $KVUE

Key Points

• Truist Financial Corp reduced its stake in Kenvue Inc. by 7.3% during the 2nd quarter, now holding 786,456 shares valued at approximately $16.46 million.
• Kenvue recently declared a quarterly dividend of $0.2075 per share, increasing its annualized dividend to $0.83 and reflecting a yield of 5.3%.
• Analysts currently have a consensus rating of "Hold" for Kenvue's stock, with a target price averaging around $22.46.

Truist Financial Corp cut its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 7.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 786,456 shares of the company's stock after selling 61,614 shares during the quarter. Truist Financial Corp's holdings in Kenvue were worth $16,461,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Evergreen Wealth Solutions LLC grew its holdings in Kenvue by 2.6% in the first quarter. Evergreen Wealth Solutions LLC now owns 16,769 shares of the company's stock worth $402,000 after purchasing an additional 432 shares during the period. Scott & Selber Inc. boosted its position in shares of Kenvue by 0.4% during the 1st quarter. Scott & Selber Inc. now owns 106,621 shares of the company's stock worth $2,557,000 after purchasing an additional 475 shares in the last quarter. Wealth Alliance LLC boosted its position in shares of Kenvue by 1.6% during the 1st quarter. Wealth Alliance LLC now owns 31,778 shares of the company's stock worth $762,000 after purchasing an additional 486 shares in the last quarter. Everett Harris & Co. CA raised its stake in Kenvue by 1.4% during the 1st quarter. Everett Harris & Co. CA now owns 36,971 shares of the company's stock worth $887,000 after buying an additional 500 shares during the period. Finally, UMB Bank n.a. raised its stake in Kenvue by 22.3% during the 2nd quarter. UMB Bank n.a. now owns 2,853 shares of the company's stock worth $60,000 after buying an additional 521 shares during the period. Institutional investors own 97.64% of the company's stock.

Wall Street Analyst Weigh In

KVUE has been the subject of several recent research reports. Citigroup restated a "neutral" rating on shares of Kenvue in a report on Tuesday, September 23rd. Royal Bank Of Canada reduced their price target on shares of Kenvue from $24.00 to $22.00 and set a "sector perform" rating for the company in a research report on Friday, August 8th. Zacks Research raised shares of Kenvue to a "strong sell" rating in a research report on Monday, August 11th. Evercore ISI dropped their price objective on shares of Kenvue from $23.00 to $18.00 and set an "in-line" rating on the stock in a research note on Tuesday, September 23rd. Finally, Redburn Partners set a $22.00 price objective on shares of Kenvue in a research note on Friday, September 26th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Kenvue currently has an average rating of "Hold" and a consensus target price of $22.46.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $15.80 on Friday. The stock's fifty day simple moving average is $19.71 and its two-hundred day simple moving average is $21.58. The stock has a market cap of $30.31 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 2.26 and a beta of 0.72. 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 1-year low of $15.47 and a 1-year high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.28 by $0.01. The company had revenue of $3.84 billion during the quarter, compared to the consensus estimate of $3.94 billion. Kenvue had a net margin of 9.37% and a return on equity of 20.06%. The firm's revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 earnings per share. Kenvue has set its FY 2025 guidance at 1.000-1.050 EPS. As a group, 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 was paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th were issued a dividend of $0.2075 per share. This represents a $0.83 dividend on an annualized basis and a yield of 5.3%. This is an increase from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date was Wednesday, August 13th. Kenvue's dividend payout ratio is 112.16%.

About Kenvue

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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