First PREMIER Bank Grows Position in Kenvue Inc. (NYSE:KVUE)

First PREMIER Bank lifted its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 18.5% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 13,823 shares of the company’s stock after acquiring an additional 2,159 shares during the quarter. First PREMIER Bank’s holdings in Kenvue were worth $332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Handelsbanken Fonder AB lifted its holdings in Kenvue by 2.9% in the fourth quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company’s stock valued at $15,846,000 after acquiring an additional 21,222 shares during the period. Longbow Finance SA lifted its holdings in Kenvue by 5.0% in the fourth quarter. Longbow Finance SA now owns 280,568 shares of the company’s stock valued at $5,990,000 after acquiring an additional 13,287 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of Kenvue by 143.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 47,938 shares of the company’s stock worth $1,023,000 after buying an additional 28,216 shares during the period. CORDA Investment Management LLC. raised its stake in shares of Kenvue by 1.4% in the fourth quarter. CORDA Investment Management LLC. now owns 1,253,096 shares of the company’s stock worth $26,754,000 after buying an additional 17,466 shares during the period. Finally, Starboard Value LP bought a new position in shares of Kenvue in the fourth quarter worth about $467,864,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KVUE has been the topic of several recent research reports. Evercore ISI initiated coverage on Kenvue in a research note on Monday, March 24th. They issued an “in-line” rating and a $25.00 price objective on the stock. Canaccord Genuity Group raised their price objective on Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, March 5th. Redburn Atlantic began coverage on Kenvue in a research report on Thursday, April 10th. They set a “neutral” rating and a $23.50 target price for the company. Citigroup reiterated a “neutral” rating on shares of Kenvue in a research report on Friday, June 13th. Finally, UBS Group increased their target price on Kenvue from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Kenvue presently has a consensus rating of “Hold” and an average target price of $25.33.

Kenvue Price Performance

Shares of KVUE stock opened at $21.39 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.60 and a current ratio of 0.86. The stock has a 50 day moving average price of $23.00 and a 200 day moving average price of $22.43. The firm has a market capitalization of $41.03 billion, a P/E ratio of 38.88, a P/E/G ratio of 3.32 and a beta of 0.98. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $25.17.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. The firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. Kenvue had a return on equity of 20.87% and a net margin of 6.90%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. As a group, sell-side analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.83%. The ex-dividend date was Wednesday, May 14th. Kenvue’s payout ratio is 149.09%.

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.