Equitable Trust Co. Lowers Stock Position in Kenvue Inc. (NYSE:KVUE)

Equitable Trust Co. cut its stake in shares of Kenvue Inc. (NYSE:KVUE) by 30.8% in the fourth quarter, HoldingsChannel reports. The fund owned 17,534 shares of the company’s stock after selling 7,811 shares during the period. Equitable Trust Co.’s holdings in Kenvue were worth $374,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Grove Bank & Trust boosted its position in shares of Kenvue by 438.4% in the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after purchasing an additional 947 shares during the period. Riverview Trust Co purchased a new position in shares of Kenvue during the 3rd quarter valued at $30,000. Geneos Wealth Management Inc. bought a new position in Kenvue in the 4th quarter worth $29,000. Ashton Thomas Securities LLC purchased a new stake in Kenvue in the 3rd quarter worth $35,000. Finally, Fortitude Family Office LLC raised its holdings in Kenvue by 106.6% during the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after acquiring an additional 777 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on KVUE shares. Canaccord Genuity Group dropped their price objective on Kenvue from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Barclays dropped their price target on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Piper Sandler upgraded shares of Kenvue from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $21.00 to $26.00 in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft downgraded 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. Finally, Citigroup cut their target price on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, January 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Kenvue currently has a consensus rating of “Hold” and a consensus target price of $23.00.

Kenvue Stock Up 1.7 %

Shares of NYSE KVUE opened at $20.93 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46. The firm’s 50-day moving average price is $21.46 and its 200-day moving average price is $22.02. The stock has a market capitalization of $40.13 billion, a price-to-earnings ratio of 39.49, a P/E/G ratio of 2.16 and a beta of 1.45.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. On average, equities research analysts anticipate that Kenvue Inc. will post 1.05 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be paid a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Wednesday, February 12th. Kenvue’s payout ratio is 154.72%.

Kenvue 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.