Bahl & Gaynor Inc. Sells 22,771 Shares of Kenvue Inc. (NYSE:KVUE)

Bahl & Gaynor Inc. trimmed its position in Kenvue Inc. (NYSE:KVUE) by 8.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 233,477 shares of the company’s stock after selling 22,771 shares during the period. Bahl & Gaynor Inc.’s holdings in Kenvue were worth $4,245,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KVUE. Manchester Capital Management LLC lifted its holdings in Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after acquiring an additional 530 shares during the period. Tradition Wealth Management LLC boosted its holdings in shares of Kenvue by 2.8% in the 4th quarter. Tradition Wealth Management LLC now owns 21,278 shares of the company’s stock worth $458,000 after buying an additional 575 shares during the last quarter. MV Capital Management Inc. grew its position in Kenvue by 71.2% during the first quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock valued at $33,000 after buying an additional 642 shares during the period. Cove Private Wealth LLC increased its holdings in Kenvue by 1.6% during the second quarter. Cove Private Wealth LLC now owns 44,539 shares of the company’s stock worth $810,000 after buying an additional 700 shares during the last quarter. Finally, Lorne Steinberg Wealth Management Inc. increased its holdings in Kenvue by 0.7% during the first quarter. Lorne Steinberg Wealth Management Inc. now owns 97,315 shares of the company’s stock worth $2,088,000 after buying an additional 715 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Trading Up 0.2 %

Shares of KVUE opened at $23.09 on Thursday. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $23.47. The stock has a market cap of $44.21 billion, a PE ratio of 29.60, a P/E/G ratio of 2.89 and a beta of 1.40. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The business’s 50-day moving average price is $20.22 and its 200-day moving average price is $19.76.

Kenvue (NYSE:KVUE) last posted its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the prior year, the firm posted $0.32 EPS. Kenvue’s revenue was down .3% on a year-over-year basis. On average, equities analysts forecast that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a dividend of $0.205 per share. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, August 14th. This represents a $0.82 annualized dividend and a yield of 3.55%. Kenvue’s dividend payout ratio (DPR) is currently 105.13%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on KVUE. Citigroup reduced their target price on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft increased their price objective on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $24.00 price objective on shares of Kenvue in a report on Wednesday, August 7th. Finally, UBS Group upped their price objective on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $21.44.

Kenvue 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.