CIBC Bancorp USA Inc. Takes $11.51 Million Position in Kenvue Inc. $KVUE

CIBC Bancorp USA Inc. bought a new position in Kenvue Inc. (NYSE:KVUE) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 709,052 shares of the company’s stock, valued at approximately $11,508,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Salomon & Ludwin LLC purchased a new position in Kenvue during the 3rd quarter valued at approximately $25,000. NBT Bank N A NY raised its holdings in shares of Kenvue by 180.3% during the 3rd quarter. NBT Bank N A NY now owns 1,564 shares of the company’s stock worth $25,000 after acquiring an additional 1,006 shares in the last quarter. Cornerstone Planning Group LLC raised its holdings in shares of Kenvue by 705.2% during the 3rd quarter. Cornerstone Planning Group LLC now owns 1,554 shares of the company’s stock worth $25,000 after acquiring an additional 1,361 shares in the last quarter. Golden State Wealth Management LLC boosted its position in shares of Kenvue by 150.1% during the 3rd quarter. Golden State Wealth Management LLC now owns 1,983 shares of the company’s stock valued at $32,000 after acquiring an additional 1,190 shares during the last quarter. Finally, Trust Co. of Vermont boosted its position in shares of Kenvue by 50.9% during the 3rd quarter. Trust Co. of Vermont now owns 2,385 shares of the company’s stock valued at $39,000 after acquiring an additional 804 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Kenvue in a research report on Friday, January 9th. UBS Group increased their price objective on shares of Kenvue from $17.00 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Barclays lifted their price objective on shares of Kenvue from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, March 6th. Argus upgraded shares of Kenvue to a “hold” rating in a report on Friday, March 6th. Finally, Jefferies Financial Group cut shares of Kenvue from a “buy” rating to a “hold” rating and decreased their target price for the company from $23.00 to $18.00 in a research report on Friday, January 30th. Three analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. Based on data from MarketBeat, Kenvue presently has a consensus rating of “Hold” and an average target price of $19.58.

Kenvue Stock Down 0.3%

Shares of NYSE:KVUE opened at $17.45 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.96 and a quick ratio of 0.68. The business has a 50 day simple moving average of $17.96 and a two-hundred day simple moving average of $17.24. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $25.17. The firm has a market capitalization of $33.45 billion, a PE ratio of 22.66, a price-to-earnings-growth ratio of 3.98 and a beta of 0.51.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Tuesday, February 17th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. Kenvue had a return on equity of 19.72% and a net margin of 9.72%.The firm had revenue of $3.78 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period last year, the company earned $0.26 EPS. Kenvue’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were given 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 was Wednesday, February 11th. Kenvue’s dividend payout ratio (DPR) is 107.79%.

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.