Zions Bancorporation National Association UT Purchases New Holdings in Kenvue Inc. (NYSE:KVUE)

Key Points

• Zions Bancorporation invested approximately $5.55 million in Kenvue Inc. by purchasing 231,233 shares during the first quarter, highlighting increasing institutional interest in the company.
• Kenvue's recent earnings report revealed earnings per share (EPS) of $0.29, exceeding analyst estimates, despite a 4% decline in quarterly revenue year-over-year.
• The company announced a new quarterly dividend of $0.2075 per share, representing a 3.9% yield, which marks an increase from its previous dividend, reflecting positive cash flow management.

Zions Bancorporation National Association UT acquired a new stake in Kenvue Inc. (NYSE:KVUE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 231,233 shares of the company's stock, valued at approximately $5,545,000.

Several other large investors have also added to or reduced their stakes in KVUE. Everett Harris & Co. CA boosted its position in shares of Kenvue by 1.4% during the first quarter. Everett Harris & Co. CA now owns 36,971 shares of the company's stock valued at $887,000 after buying an additional 500 shares during the last quarter. NS Partners Ltd boosted its position in shares of Kenvue by 0.6% during the first quarter. NS Partners Ltd now owns 503,990 shares of the company's stock valued at $12,086,000 after buying an additional 3,031 shares during the last quarter. Citigroup Inc. boosted its position in shares of Kenvue by 214.2% during the first quarter. Citigroup Inc. now owns 4,205,777 shares of the company's stock valued at $100,855,000 after buying an additional 2,867,363 shares during the last quarter. AlphaCore Capital LLC purchased a new position in Kenvue in the first quarter worth about $115,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Kenvue by 12.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,063,360 shares of the company's stock worth $97,439,000 after purchasing an additional 454,148 shares during the last quarter. Institutional investors own 97.64% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on KVUE shares. UBS Group decreased their target price on Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Royal Bank Of Canada reduced their price objective on Kenvue from $24.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Friday. Citigroup reduced their price objective on Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 15th. Bank of America reduced their price objective on Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, July 15th. Finally, Barclays reduced their price objective on Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Tuesday, July 15th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $24.38.

Kenvue Trading Down 1.8%

KVUE stock traded down $0.39 during midday trading on Friday, hitting $21.37. 25,925,024 shares of the company's stock were exchanged, compared to its average volume of 21,611,764. The business has a 50-day simple moving average of $21.62 and a two-hundred day simple moving average of $22.42. The company has a current ratio of 0.98, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $41.00 billion, a PE ratio of 28.88, a P/E/G ratio of 4.08 and a beta of 0.83. Kenvue Inc. has a 1-year low of $19.75 and a 1-year high of $25.17.

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

Kenvue Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be issued a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a yield of 3.9%. This is a boost from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, August 13th. Kenvue's dividend payout ratio (DPR) is 110.81%.

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.