National Bank of Canada FI Trims Stake in Kenvue Inc. (NYSE:KVUE)

National Bank of Canada FI lowered its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 23.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 321,996 shares of the company's stock after selling 96,003 shares during the quarter. National Bank of Canada FI's holdings in Kenvue were worth $7,410,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of KVUE. Riverview Trust Co acquired a new stake in Kenvue during the 3rd quarter worth $30,000. Ashton Thomas Securities LLC acquired a new stake in shares of Kenvue during the third quarter worth about $35,000. Deseret Mutual Benefit Administrators grew its holdings in shares of Kenvue by 49.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company's stock worth $45,000 after buying an additional 651 shares during the last quarter. Studio Investment Management LLC grew its holdings in shares of Kenvue by 52.1% during the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company's stock worth $45,000 after buying an additional 845 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new position in Kenvue in the 3rd quarter valued at about $71,000. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Price Performance

Kenvue stock traded up $0.10 during mid-day trading on Thursday, reaching $22.32. The company had a trading volume of 14,894,548 shares, compared to its average volume of 17,674,725. The stock's 50-day simple moving average is $22.95 and its 200-day simple moving average is $21.16. The company has a market capitalization of $42.79 billion, a P/E ratio of 40.42, a P/E/G ratio of 2.07 and a beta of 1.36. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $24.46.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $3.90 billion during the quarter, compared to analysts' expectations of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. Kenvue's revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 earnings per share. On average, equities analysts predict that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were paid a $0.205 dividend. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.67%. Kenvue's payout ratio is 149.09%.

Wall Street Analyst Weigh In

KVUE has been the topic of several analyst reports. Jefferies Financial Group started coverage on Kenvue in a research note on Tuesday, September 24th. They issued a "buy" rating and a $27.00 target price on the stock. Royal Bank of Canada upgraded shares of Kenvue from a "hold" rating to a "moderate buy" rating in a research report on Monday. Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a "buy" rating to a "hold" rating and cut their price objective for the stock from $25.00 to $24.00 in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Kenvue from $24.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Finally, Bank of America increased their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Kenvue has a consensus rating of "Hold" and an average price target of $22.64.

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.