Bank of Montreal Can Sells 2,827,081 Shares of Kenvue Inc. (NYSE:KVUE)

Bank of Montreal Can trimmed its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 49.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,910,135 shares of the company's stock after selling 2,827,081 shares during the period. Bank of Montreal Can owned about 0.15% of Kenvue worth $62,131,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Kenvue by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 218,543,705 shares of the company's stock worth $4,665,908,000 after acquiring an additional 1,636,741 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Kenvue by 12.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company's stock valued at $2,085,070,000 after purchasing an additional 10,682,003 shares in the last quarter. Geode Capital Management LLC boosted its position in Kenvue by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 46,068,931 shares of the company's stock valued at $980,989,000 after buying an additional 1,391,854 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Kenvue by 61.5% in the fourth quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company's stock valued at $912,059,000 after buying an additional 16,269,721 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Kenvue by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 24,972,777 shares of the company's stock worth $533,169,000 after purchasing an additional 561,570 shares during the period. 97.64% of the stock is owned by institutional investors and hedge funds.

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Kenvue Trading Up 0.6 %

KVUE stock traded up $0.14 during mid-day trading on Tuesday, reaching $22.85. The company's stock had a trading volume of 5,209,527 shares, compared to its average volume of 16,872,270. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The company has a market cap of $43.67 billion, a price-to-earnings ratio of 43.11, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The business's 50 day moving average price is $22.69 and its 200 day moving average price is $22.40. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $24.46.

Kenvue (NYSE:KVUE - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. On average, equities research analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.59%. Kenvue's payout ratio is presently 154.72%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. UBS Group reduced their price target on shares of Kenvue from $23.00 to $21.00 and set a "neutral" rating on the stock in a research report on Friday, February 7th. Evercore ISI assumed 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. Piper Sandler upped their price objective on Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Canaccord Genuity Group boosted their price target on Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Finally, Redburn Atlantic began coverage on shares of Kenvue in a research report on Thursday, April 10th. They set a "neutral" rating and a $23.50 price objective for the company. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $24.42.

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.