Chevy Chase Trust Holdings LLC Lowers Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Chevy Chase Trust Holdings LLC lessened its holdings in Kenvue Inc. (NYSE:KVUE) by 1.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,007,928 shares of the company’s stock after selling 19,902 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Kenvue worth $21,519,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. Asset Planning Inc purchased a new stake in shares of Kenvue in the 4th quarter worth approximately $42,000. White Pine Capital LLC lifted its position in Kenvue by 1.0% during the fourth quarter. White Pine Capital LLC now owns 54,572 shares of the company’s stock valued at $1,165,000 after acquiring an additional 542 shares during the last quarter. Vontobel Holding Ltd. lifted its position in Kenvue by 38.7% during the fourth quarter. Vontobel Holding Ltd. now owns 31,335 shares of the company’s stock valued at $669,000 after acquiring an additional 8,741 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in Kenvue by 3.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 749,580 shares of the company’s stock valued at $16,138,000 after acquiring an additional 21,545 shares during the last quarter. Finally, Pathway Financial Advisers LLC lifted its position in Kenvue by 19.1% during the fourth quarter. Pathway Financial Advisers LLC now owns 12,697 shares of the company’s stock valued at $271,000 after acquiring an additional 2,040 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 target price on shares of Kenvue in a research report on Monday, February 3rd. Barclays decreased their target price on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Deutsche Bank Aktiengesellschaft cut shares of Kenvue from a “buy” rating to a “hold” rating and decreased their target price for the company from $25.00 to $24.00 in a research report on Thursday, December 12th. Bank of America upped their price target on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Canaccord Genuity Group cut their price target on shares of Kenvue from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $23.00.

Kenvue Stock Performance

NYSE:KVUE opened at $21.94 on Friday. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. The company has a market cap of $42.07 billion, a P/E ratio of 41.40, a P/E/G ratio of 2.16 and a beta of 1.45. The company’s 50-day moving average price is $21.32 and its 200-day moving average price is $22.07. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. On average, sell-side analysts forecast that Kenvue Inc. will post 1.05 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.74%. The ex-dividend date is Wednesday, February 12th. Kenvue’s payout ratio is currently 154.72%.

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.