Cibc World Markets Corp Reduces Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Cibc World Markets Corp reduced its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 74.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 752,091 shares of the company's stock after selling 2,200,537 shares during the quarter. Cibc World Markets Corp's holdings in Kenvue were worth $16,057,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of KVUE. Grove Bank & Trust lifted its position in Kenvue by 438.4% during the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company's stock valued at $25,000 after purchasing an additional 947 shares during the last quarter. Geneos Wealth Management Inc. bought a new position in shares of Kenvue during the 4th quarter valued at approximately $29,000. SRS Capital Advisors Inc. raised its holdings in Kenvue by 67.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock valued at $30,000 after buying an additional 571 shares during the period. Fortitude Family Office LLC lifted its position in Kenvue by 106.6% in the fourth 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 boosted its stake in Kenvue by 300.8% during the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company's stock worth $41,000 after buying an additional 1,441 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Kenvue from a "buy" rating to a "hold" rating and lowered their target price for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. UBS Group dropped their target price on Kenvue from $23.00 to $21.00 and set a "neutral" rating for the company in a research report on Friday, February 7th. Piper Sandler increased their price target on Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Canaccord Genuity Group boosted their price objective on Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Finally, Citigroup reduced their target price on Kenvue from $25.00 to $21.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Kenvue has an average rating of "Hold" and an average price target of $23.75.

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Kenvue Stock Down 0.2 %

NYSE KVUE traded down $0.05 during trading on Friday, reaching $23.34. 35,292,627 shares of the company's stock traded hands, compared to its average volume of 15,103,701. 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. The firm has a market cap of $44.61 billion, a price-to-earnings ratio of 44.04, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. The company's 50 day simple moving average is $22.03 and its two-hundred day simple moving average is $22.42.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting 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 forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued 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 yield of 3.51%. Kenvue's dividend payout ratio is presently 154.72%.

Kenvue Company Profile

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.