M&T Bank Corp Raises Stake in Kenvue Inc. (NYSE:KVUE)

M&T Bank Corp increased its stake in Kenvue Inc. (NYSE:KVUE) by 14.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 108,951 shares of the company’s stock after buying an additional 13,375 shares during the period. M&T Bank Corp’s holdings in Kenvue were worth $2,346,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KVUE. Clearstead Advisors LLC purchased a new stake in Kenvue during the third quarter valued at about $25,000. Planned Solutions Inc. purchased a new stake in Kenvue during the fourth quarter valued at about $27,000. Venturi Wealth Management LLC purchased a new stake in Kenvue during the third quarter valued at about $28,000. EverSource Wealth Advisors LLC purchased a new stake in Kenvue during the third quarter valued at about $28,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in Kenvue during the third quarter valued at about $29,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on KVUE shares. William Blair initiated coverage on shares of Kenvue in a report on Wednesday, April 3rd. They set a “market perform” rating on the stock. The Goldman Sachs Group initiated coverage on Kenvue in a research report on Friday, March 1st. They set a “neutral” rating and a $20.00 price target on the stock. HSBC upped their price target on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. decreased their price target on Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Friday, February 9th. Finally, Sanford C. Bernstein initiated coverage on Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Kenvue has an average rating of “Hold” and an average target price of $24.38.

Kenvue Price Performance

KVUE stock opened at $20.45 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.12. The company’s 50 day moving average is $19.87 and its 200 day moving average is $20.12. Kenvue Inc. has a 1-year low of $17.82 and a 1-year high of $27.80.

Kenvue (NYSE:KVUE) last issued its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.79 billion. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The company’s quarterly revenue was down 24.9% on a year-over-year basis. Analysts expect that Kenvue Inc. will post 1.15 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.91%. The ex-dividend date is Tuesday, May 7th.

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.