Cardinal Point Capital Management ULC Cuts Stock Holdings in Kenvue Inc. $KVUE

Cardinal Point Capital Management ULC cut its position in shares of Kenvue Inc. (NYSE:KVUE) by 10.1% during the 4th quarter, Holdings Channel reports. The firm owned 303,690 shares of the company’s stock after selling 34,092 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Kenvue were worth $5,239,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. NBT Bank N A NY increased its holdings in Kenvue by 180.3% during the third quarter. NBT Bank N A NY now owns 1,564 shares of the company’s stock worth $25,000 after buying an additional 1,006 shares during the last quarter. Cornerstone Planning Group LLC lifted its position in shares of Kenvue by 705.2% during the third quarter. Cornerstone Planning Group LLC now owns 1,554 shares of the company’s stock worth $25,000 after acquiring an additional 1,361 shares in the last quarter. Physician Wealth Advisors Inc. boosted its stake in Kenvue by 67.5% in the 4th quarter. Physician Wealth Advisors Inc. now owns 1,533 shares of the company’s stock worth $26,000 after purchasing an additional 618 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Kenvue by 150.1% in the third quarter. Golden State Wealth Management LLC now owns 1,983 shares of the company’s stock valued at $32,000 after acquiring an additional 1,190 shares during the period. Finally, SBI Securities Co. Ltd. boosted its holdings in Kenvue by 82.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,273 shares of the company’s stock valued at $39,000 after purchasing an additional 1,027 shares during the period. 97.64% of the stock is owned by institutional investors.

Kenvue Stock Performance

NYSE:KVUE opened at $17.22 on Thursday. The firm has a market cap of $33.05 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 1.33 and a beta of 0.55. Kenvue Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $24.35. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.68 and a current ratio of 0.98. The business has a 50 day moving average price of $17.52 and a 200-day moving average price of $17.30.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.05. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The business had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the previous year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities research analysts predict that Kenvue Inc. will post 1.16 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be issued a $0.2075 dividend. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $0.83 annualized dividend and a yield of 4.8%. Kenvue’s payout ratio is 97.65%.

Insiders Place Their Bets

In other Kenvue news, General Counsel Matthew Orlando sold 38,491 shares of Kenvue stock in a transaction on Friday, May 8th. The stock was sold at an average price of $17.66, for a total value of $679,751.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.59% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KVUE. Barclays lowered their target price on shares of Kenvue from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 14th. Canaccord Genuity Group raised their price objective on shares of Kenvue from $17.00 to $18.00 and gave the company a “hold” rating in a research report on Wednesday, February 18th. Weiss Ratings raised shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 8th. Citigroup cut their target price on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, April 15th. Finally, Jefferies Financial Group cut Kenvue from a “buy” rating to a “hold” rating and reduced their target price for the company from $23.00 to $18.00 in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, Kenvue has an average rating of “Hold” and a consensus target price of $19.33.

Kenvue Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.