Zions Bancorporation N.A. Cuts Stock Position in Kenvue Inc. (NYSE:KVUE)

Zions Bancorporation N.A. lessened its holdings in Kenvue Inc. (NYSE:KVUE) by 2.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 203,155 shares of the company’s stock after selling 5,240 shares during the period. Zions Bancorporation N.A.’s holdings in Kenvue were worth $3,693,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Manchester Capital Management LLC grew its holdings in Kenvue by 80.8% during the 1st quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after purchasing an additional 530 shares in the last quarter. Mather Group LLC. acquired a new stake in Kenvue during the 1st quarter valued at $28,000. Riverview Trust Co acquired a new position in Kenvue during the 1st quarter worth $33,000. MV Capital Management Inc. grew its holdings in Kenvue by 71.2% during the 1st quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock worth $33,000 after acquiring an additional 642 shares in the last quarter. Finally, Salomon & Ludwin LLC acquired a new position in Kenvue during the 1st quarter worth $33,000. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

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

Kenvue Stock Down 0.0 %

KVUE stock opened at $23.08 on Friday. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $23.47. The company has a market capitalization of $44.20 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 2.92 and a beta of 1.40. The firm’s 50-day moving average is $20.31 and its two-hundred day moving average is $19.78. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE) last released its earnings results on Tuesday, August 6th. The company reported $0.32 EPS 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 the consensus estimate of $3.93 billion. During the same period in the previous year, the firm earned $0.32 EPS. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts forecast that Kenvue Inc. will post 1.08 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were issued a $0.205 dividend. This is an increase from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend was Wednesday, August 14th. Kenvue’s payout ratio is presently 105.13%.

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.