American International Group Inc. Sells 1,243 Shares of Kenvue Inc. (NYSE:KVUE)

American International Group Inc. lessened its stake in shares of Kenvue Inc. (NYSE:KVUE) by 0.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 436,529 shares of the company’s stock after selling 1,243 shares during the period. American International Group Inc.’s holdings in Kenvue were worth $9,368,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of KVUE. Stephens Inc. AR increased its holdings in shares of Kenvue by 86.1% in the 4th quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock worth $1,242,000 after purchasing an additional 26,700 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Kenvue by 60.4% in the 4th quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock worth $16,041,000 after purchasing an additional 280,591 shares in the last quarter. Raleigh Capital Management Inc. increased its holdings in shares of Kenvue by 93,834.8% in the 4th quarter. Raleigh Capital Management Inc. now owns 43,210 shares of the company’s stock worth $930,000 after purchasing an additional 43,164 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of Kenvue by 35.3% in the 4th quarter. Fifth Third Bancorp now owns 277,580 shares of the company’s stock worth $5,976,000 after purchasing an additional 72,435 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Kenvue by 2.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock worth $34,417,000 after purchasing an additional 40,995 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

Shares of KVUE stock traded up $0.17 during trading hours on Thursday, hitting $18.34. The stock had a trading volume of 5,471,137 shares, compared to its average volume of 19,057,033. Kenvue Inc. has a one year low of $17.67 and a one year high of $25.23. 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 stock’s 50-day moving average price is $18.67 and its two-hundred day moving average price is $19.59. The stock has a market capitalization of $35.12 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 1.97 and a beta of 1.40.

Kenvue (NYSE:KVUE) last issued its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) 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 firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $3.79 billion. Kenvue’s revenue for the quarter was down 24.9% compared to the same quarter last year. Equities analysts forecast that Kenvue Inc. will post 1.13 EPS for the current year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 4.47%. This is a boost from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s payout ratio is 102.56%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Sanford C. Bernstein started coverage on Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their price target on Kenvue from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. dropped their price target on Kenvue from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday. Citigroup lowered their target price on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. Finally, HSBC lifted their target price on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $22.45.

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.