Kenvue Inc. (NYSE:KVUE) Shares Bought by Independence Bank of Kentucky

Independence Bank of Kentucky boosted its position in shares of Kenvue Inc. (NYSE:KVUE) by 145.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,381 shares of the company’s stock after acquiring an additional 2,595 shares during the period. Independence Bank of Kentucky’s holdings in Kenvue were worth $94,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Planned Solutions Inc. acquired a new position in shares of Kenvue in the 4th quarter valued at $27,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in Kenvue during the 4th quarter worth $28,000. Mather Group LLC. acquired a new stake in Kenvue during the 1st quarter worth $28,000. CVA Family Office LLC acquired a new stake in Kenvue during the 4th quarter worth $32,000. Finally, Pinnacle Bancorp Inc. boosted its stake in Kenvue by 51.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock worth $33,000 after purchasing an additional 526 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of NYSE KVUE traded down $0.24 during midday trading on Friday, reaching $18.18. 57,323,267 shares of the company traded hands, compared to its average volume of 21,130,516. Kenvue Inc. has a 52 week low of $17.75 and a 52 week high of $26.66. The stock has a 50-day moving average price of $19.19 and a 200 day moving average price of $19.98. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The company has a market cap of $34.81 billion and a price-to-earnings ratio of 23.31.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $3.79 billion. The firm’s quarterly revenue was down 24.9% on a year-over-year basis. Sell-side analysts anticipate that Kenvue Inc. will post 1.17 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.40%. The ex-dividend date was Tuesday, May 7th. Kenvue’s dividend payout ratio (DPR) is presently 102.56%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on KVUE. William Blair began coverage on shares of Kenvue in a report on Wednesday, April 3rd. They issued a “market perform” rating for the company. Citigroup reiterated a “neutral” rating and issued a $21.00 price target on shares of Kenvue in a report on Tuesday, May 28th. Sanford C. Bernstein began coverage on shares of Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price target for the company. The Goldman Sachs Group began coverage on shares of Kenvue in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price target for the company. Finally, HSBC increased their price target on shares of Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Kenvue has a consensus rating of “Hold” and a consensus target price of $23.09.

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.