Fulton Bank N.A. Cuts Holdings in Kenvue Inc. (NYSE:KVUE)

Fulton Bank N.A. trimmed its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 1.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 73,874 shares of the company’s stock after selling 841 shares during the period. Fulton Bank N.A.’s holdings in Kenvue were worth $1,343,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Stephens Inc. AR boosted its stake 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 buying an additional 26,700 shares during the last quarter. Stifel Financial Corp boosted its stake 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 buying an additional 280,591 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in 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 during the period. The Manufacturers Life Insurance Company lifted its position in shares of Kenvue by 2.6% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock valued at $34,417,000 after buying an additional 40,995 shares in the last quarter. Finally, Cornerstone Wealth Group LLC grew its stake in shares of Kenvue by 176.2% during the 1st quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock valued at $7,519,000 after acquiring an additional 223,537 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KVUE has been the topic of a number of analyst reports. HSBC lifted their target price on shares of Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research note on Wednesday, May 8th. Citigroup decreased their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Kenvue from $24.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. JPMorgan Chase & Co. decreased their price target on shares of Kenvue from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Finally, Sanford C. Bernstein assumed coverage on shares of Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $22.45.

Kenvue Stock Up 14.6 %

Shares of NYSE KVUE traded up $2.66 during midday trading on Tuesday, reaching $20.85. 44,391,949 shares of the company’s stock traded hands, compared to its average volume of 19,245,387. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The stock’s 50 day simple moving average is $18.47 and its 200-day simple moving average is $19.41. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.10. The company has a market cap of $39.92 billion, a price-to-earnings ratio of 26.74, a P/E/G ratio of 2.07 and a beta of 1.38.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) 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 firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.79 billion. The firm’s quarterly revenue was down 24.9% on a year-over-year basis. On average, analysts predict that Kenvue Inc. will post 1.13 EPS for the current fiscal year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be given a dividend of $0.205 per share. This is a boost from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date is Wednesday, August 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.93%. Kenvue’s dividend payout ratio is presently 105.13%.

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.