Bank of Nova Scotia Reduces Position in Kenvue Inc. (NYSE:KVUE)

Bank of Nova Scotia decreased its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 67.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 255,793 shares of the company's stock after selling 519,266 shares during the quarter. Bank of Nova Scotia's holdings in Kenvue were worth $5,461,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of the stock. Grove Bank & Trust boosted its holdings in shares of Kenvue by 438.4% during the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company's stock valued at $25,000 after buying an additional 947 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Kenvue during the fourth quarter valued at approximately $29,000. SRS Capital Advisors Inc. boosted its position in shares of Kenvue by 67.4% in 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 in the last quarter. Fortitude Family Office LLC grew its stake in shares of Kenvue by 106.6% in the 4th quarter. Fortitude Family Office LLC now owns 1,506 shares of the company's stock worth $32,000 after buying an additional 777 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in Kenvue by 300.8% during the 4th quarter. Versant Capital Management Inc now owns 1,920 shares of the company's stock valued at $41,000 after buying an additional 1,441 shares in the last quarter. Institutional investors own 97.64% of the company's stock.

Kenvue Stock Performance

Shares of KVUE stock traded up $0.25 during trading hours on Tuesday, reaching $22.96. 22,262,776 shares of the company traded hands, compared to its average volume of 16,937,646. The firm has a 50-day moving average price of $22.69 and a 200 day moving average price of $22.40. The company has a market cap of $43.87 billion, a P/E ratio of 43.31, a P/E/G ratio of 2.62 and a beta of 1.02. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69.

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Kenvue (NYSE:KVUE - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share 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%. As a group, sell-side analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue's dividend payout ratio (DPR) is currently 154.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on KVUE shares. Barclays cut their target price on Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Monday. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $24.00 target price on shares of Kenvue in a report on Monday, February 3rd. Redburn Atlantic initiated coverage on shares of Kenvue in a report on Thursday, April 10th. They set a "neutral" rating and a $23.50 price target on the stock. UBS Group decreased their price objective on shares of Kenvue from $23.00 to $21.00 and set a "neutral" rating for the company in a report on Friday, February 7th. Finally, Evercore ISI assumed coverage on Kenvue in a research report on Monday, March 24th. They issued an "in-line" rating and a $25.00 price objective on the stock. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus 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.