Fifth Third Bancorp Boosts Holdings in Kenvue Inc. (NYSE:KVUE)

Fifth Third Bancorp raised its holdings in Kenvue Inc. (NYSE:KVUE) by 4.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 236,875 shares of the company’s stock after acquiring an additional 11,160 shares during the period. Fifth Third Bancorp’s holdings in Kenvue were worth $5,680,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. grew its holdings in shares of Kenvue by 67.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after purchasing an additional 571 shares during the period. Asset Planning Inc purchased a new stake in shares of Kenvue during the 4th quarter worth about $42,000. Clarity Asset Management Inc. purchased a new stake in shares of Kenvue during the 4th quarter worth about $45,000. SBI Securities Co. Ltd. purchased a new stake in shares of Kenvue during the 4th quarter worth about $46,000. Finally, Deseret Mutual Benefit Administrators grew its holdings in shares of Kenvue by 29.0% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company’s stock worth $54,000 after purchasing an additional 568 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of KVUE opened at $21.44 on Friday. The business’s 50 day moving average is $23.02 and its two-hundred day moving average is $22.52. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $25.17. The firm has a market cap of $41.14 billion, a price-to-earnings ratio of 40.46, a PEG ratio of 2.62 and a beta of 0.98. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. The business’s revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.28 EPS. Analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Wednesday, May 14th. Kenvue’s dividend payout ratio is currently 149.09%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on KVUE shares. Redburn Atlantic started coverage on Kenvue in a research report on Thursday, April 10th. They set a “neutral” rating and a $23.50 price target on the stock. Barclays boosted their price target on Kenvue from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Evercore ISI started coverage on Kenvue in a research report on Monday, March 24th. They set an “in-line” rating and a $25.00 price target on the stock. Citigroup boosted their price target on Kenvue from $22.00 to $24.50 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Finally, Piper Sandler upped their target price on Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research report on Monday, February 24th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $25.33.

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.