Truist Financial Corp Acquires 133,235 Shares of Kenvue Inc. (NYSE:KVUE)

Truist Financial Corp increased its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 18.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 851,827 shares of the company's stock after purchasing an additional 133,235 shares during the period. Truist Financial Corp's holdings in Kenvue were worth $18,187,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in KVUE. Grove Bank & Trust boosted its position in 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 during the period. Geneos Wealth Management Inc. bought a new position in shares of Kenvue during the fourth quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new position in shares of Kenvue during the third quarter valued at approximately $35,000. Fortitude Family Office LLC lifted its stake 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 acquiring an additional 777 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Kenvue by 300.8% in the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company's stock valued at $41,000 after acquiring an additional 1,441 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on KVUE shares. Royal Bank of Canada restated a "sector perform" rating and issued a $24.00 price objective on shares of Kenvue in a report on Monday, February 3rd. Piper Sandler raised shares of Kenvue from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $21.00 to $26.00 in a research note on Monday, January 6th. Deutsche Bank Aktiengesellschaft cut Kenvue from a "buy" rating to a "hold" rating and cut their price objective for the company from $25.00 to $24.00 in a research report on Thursday, December 12th. Canaccord Genuity Group decreased their target price on Kenvue from $27.00 to $24.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Finally, UBS Group dropped their price target on Kenvue from $23.00 to $21.00 and set a "neutral" rating on the stock in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Kenvue has a consensus rating of "Hold" and an average price target of $23.00.

Kenvue Stock Up 3.9 %

KVUE stock traded up $0.88 during trading on Friday, hitting $23.27. 15,520,404 shares of the stock traded hands, compared to its average volume of 13,476,249. The stock has a market cap of $44.61 billion, a price-to-earnings ratio of 43.86, a price-to-earnings-growth ratio of 2.61 and a beta of 1.45. 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. The firm's 50 day moving average is $21.29 and its two-hundred day moving average is $22.14.

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

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Wednesday, February 12th. Kenvue's payout ratio is 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.