Truist Financial Corp Trims Holdings in Kenvue Inc. $KVUE

Truist Financial Corp trimmed its holdings in Kenvue Inc. (NYSE:KVUE) by 43.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 196,070 shares of the company’s stock after selling 148,494 shares during the quarter. Truist Financial Corp’s holdings in Kenvue were worth $3,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of KVUE. Arrowstreet Capital Limited Partnership purchased a new position in shares of Kenvue during the second quarter valued at approximately $6,528,000. Jump Financial LLC increased its position in Kenvue by 210.6% during the 2nd quarter. Jump Financial LLC now owns 54,823 shares of the company’s stock valued at $1,147,000 after buying an additional 37,170 shares in the last quarter. AXA S.A. increased its position in Kenvue by 21.1% during the 2nd quarter. AXA S.A. now owns 48,892 shares of the company’s stock valued at $1,023,000 after buying an additional 8,524 shares in the last quarter. NewEdge Advisors LLC raised its stake in Kenvue by 219.1% during the second quarter. NewEdge Advisors LLC now owns 97,481 shares of the company’s stock valued at $2,040,000 after buying an additional 66,930 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Kenvue by 0.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,873,705 shares of the company’s stock worth $39,217,000 after acquiring an additional 10,885 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $17.21 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.96. The firm has a market cap of $33.03 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 1.61 and a beta of 0.55. The business has a 50-day simple moving average of $17.59 and a two-hundred day simple moving average of $17.27. Kenvue Inc. has a fifty-two week low of $14.02 and a fifty-two week high of $24.61.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Kenvue had a net margin of 10.61% and a return on equity of 20.76%. The firm had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter last year, the firm posted $0.24 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts expect that Kenvue Inc. will post 1.16 earnings per share for the current year.

Kenvue Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KVUE. Citigroup cut their target price on Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 15th. Barclays dropped their price target 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. UBS Group reduced their price objective on shares of Kenvue from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Canaccord Genuity Group lifted their target price on shares of Kenvue from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Wednesday, February 18th. Finally, Argus upgraded shares of Kenvue to a “hold” rating in a research note on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat.com, Kenvue has an average rating of “Hold” and an average price target of $19.33.

About Kenvue

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.