National Bank of Canada FI Buys 142,773 Shares of Kenvue Inc. (NYSE:KVUE)

National Bank of Canada FI increased its stake in Kenvue Inc. (NYSE:KVUE) by 26.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 684,979 shares of the company’s stock after buying an additional 142,773 shares during the quarter. National Bank of Canada FI’s holdings in Kenvue were worth $14,763,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Empirical Finance LLC acquired a new stake in shares of Kenvue in the third quarter valued at approximately $336,000. UniSuper Management Pty Ltd bought a new position in Kenvue during the third quarter worth $35,544,000. Citizens Business Bank acquired a new position in shares of Kenvue in the third quarter valued at $2,507,000. Fifth Third Bancorp raised its position in shares of Kenvue by 35.3% in the fourth quarter. Fifth Third Bancorp now owns 277,580 shares of the company’s stock valued at $5,976,000 after purchasing an additional 72,435 shares during the period. Finally, Clearbridge Investments LLC lifted its stake in shares of Kenvue by 364.6% during the 3rd quarter. Clearbridge Investments LLC now owns 484,321 shares of the company’s stock worth $9,725,000 after buying an additional 380,071 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

KVUE has been the topic of a number of research reports. 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. William Blair began coverage on Kenvue in a research note on Wednesday, April 3rd. They set a “market perform” rating on the stock. Royal Bank of Canada reduced their price target on Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, February 9th. JPMorgan Chase & Co. lowered their price objective on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Finally, The Goldman Sachs Group assumed coverage on Kenvue in a report on Friday, March 1st. They set a “neutral” rating and a $20.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $24.85.

Kenvue Stock Up 5.2 %

Shares of Kenvue stock opened at $20.08 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a 12-month low of $17.82 and a 12-month high of $27.80. The firm’s 50-day moving average price is $19.85 and its two-hundred day moving average price is $20.11.

Kenvue (NYSE:KVUE) last posted its quarterly 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 net margin of 9.87% and a return on equity of 15.62%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $3.79 billion. The business’s quarterly revenue was down 24.9% compared to the same quarter last year. As a group, sell-side analysts predict that Kenvue Inc. will post 1.15 earnings per share for the current year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.98%.

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.