Truist Financial Corp Reduces Stock Holdings in Kenvue Inc. $KVUE

Truist Financial Corp reduced its position in shares of Kenvue Inc. (NYSE:KVUE) by 43.1% in the fourth quarter, HoldingsChannel reports. The firm owned 196,070 shares of the company’s stock after selling 148,494 shares during the quarter. Truist Financial Corp’s holdings in Kenvue were worth $3,382,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Kenvue by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company’s stock valued at $4,052,913,000 after acquiring an additional 1,604,040 shares during the period. American Century Companies Inc. lifted its position in Kenvue by 22.4% during the third quarter. American Century Companies Inc. now owns 37,046,660 shares of the company’s stock valued at $601,267,000 after purchasing an additional 6,781,640 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Kenvue by 13.5% during the third quarter. Dimensional Fund Advisors LP now owns 23,127,234 shares of the company’s stock valued at $375,377,000 after purchasing an additional 2,747,952 shares in the last quarter. Van ECK Associates Corp grew its holdings in Kenvue by 101.3% during the third quarter. Van ECK Associates Corp now owns 18,361,581 shares of the company’s stock valued at $298,008,000 after purchasing an additional 9,240,434 shares during the period. Finally, Amundi grew its holdings in Kenvue by 21.6% during the third quarter. Amundi now owns 17,645,761 shares of the company’s stock valued at $277,012,000 after purchasing an additional 3,135,871 shares during the period. Institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

KVUE has been the topic of several recent research reports. Canaccord Genuity Group raised their price objective on Kenvue from $17.00 to $18.00 and gave the stock a “hold” rating in a research note on Wednesday, February 18th. Barclays cut their price objective on Kenvue from $19.00 to $18.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 14th. Weiss Ratings raised shares of Kenvue from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday. Citigroup lowered their price target on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a report on Wednesday, April 15th. Finally, UBS Group dropped their price target on shares of Kenvue from $19.00 to $18.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, Kenvue presently has a consensus rating of “Hold” and a consensus price target of $19.33.

Kenvue Stock Down 2.2%

Shares of KVUE opened at $17.21 on Tuesday. The business’s 50 day moving average is $17.59 and its 200 day moving average is $17.27. The company has a current ratio of 0.96, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $24.61. The company has a market capitalization of $33.03 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 1.61 and a beta of 0.55.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.05. Kenvue had a return on equity of 20.76% and a net margin of 10.61%.The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the prior year, the company posted $0.24 EPS. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Research analysts expect that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th will be issued a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Wednesday, May 13th. Kenvue’s dividend payout ratio is 97.65%.

About Kenvue

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.