Kenvue Inc. (NYSE:KVUE) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its stake in Kenvue Inc. (NYSE:KVUE) by 43.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 411,184 shares of the company’s stock after acquiring an additional 124,016 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Kenvue were worth $8,853,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of KVUE. M&T Bank Corp purchased a new stake in shares of Kenvue in the third quarter valued at approximately $1,919,000. Nisa Investment Advisors LLC purchased a new stake in shares of Kenvue in the third quarter valued at approximately $1,607,000. Principal Financial Group Inc. purchased a new stake in shares of Kenvue in the third quarter valued at approximately $38,533,000. Private Advisor Group LLC purchased a new stake in shares of Kenvue during the third quarter worth approximately $857,000. Finally, MGO One Seven LLC purchased a new stake in shares of Kenvue during the third quarter worth approximately $863,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Sanford C. Bernstein assumed coverage on Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price target for the company. The Goldman Sachs Group began coverage on Kenvue in a research note on Friday, March 1st. They issued a “neutral” rating and a $20.00 target price for the company. William Blair began coverage on Kenvue in a research note on Wednesday, April 3rd. They issued a “market perform” rating for the company. JPMorgan Chase & Co. cut their target price on Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Finally, HSBC raised their target price on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.38.

Kenvue Price Performance

Shares of NYSE KVUE opened at $19.44 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.99. Kenvue Inc. has a fifty-two week low of $17.82 and a fifty-two week high of $26.74. The firm has a market capitalization of $37.21 billion and a PE ratio of 24.92. The stock’s 50-day simple moving average is $20.01 and its 200-day simple moving average is $20.20.

Kenvue (NYSE:KVUE) last issued its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.79 billion. The business’s revenue for the quarter was down 24.9% compared to the same quarter last year. As a group, equities research analysts forecast that Kenvue Inc. will post 1.15 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.12%. The ex-dividend date was Tuesday, May 7th. Kenvue’s dividend payout ratio (DPR) is 102.56%.

Kenvue Company 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.