Cibc World Markets Corp Sells 2,200,537 Shares of Kenvue Inc. (NYSE:KVUE)

Cibc World Markets Corp lowered its position in Kenvue Inc. (NYSE:KVUE) by 74.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 752,091 shares of the company’s stock after selling 2,200,537 shares during the period. Cibc World Markets Corp’s holdings in Kenvue were worth $16,057,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Grove Bank & Trust increased its holdings 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 acquiring an additional 947 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in Kenvue during the 4th quarter worth approximately $29,000. SRS Capital Advisors Inc. raised its holdings in Kenvue by 67.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after buying an additional 571 shares during the period. Fortitude Family Office LLC boosted its holdings in shares of Kenvue by 106.6% in the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after buying an additional 777 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of Kenvue by 300.8% during the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after acquiring an additional 1,441 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on KVUE shares. UBS Group cut their price objective on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $25.00 to $24.00 in a research report on Thursday, December 12th. Canaccord Genuity Group lifted their target price on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Citigroup reduced their price target on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Finally, Piper Sandler lifted their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Kenvue presently has an average rating of “Hold” and a consensus price target of $23.75.

Kenvue Price Performance

Shares of NYSE KVUE opened at $23.41 on Tuesday. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The business’s 50 day moving average price is $21.89 and its two-hundred day moving average price is $22.40. The company has a market cap of $44.73 billion, a PE ratio of 44.16, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share 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, analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.205 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.82 annualized dividend and a yield of 3.50%. Kenvue’s dividend payout ratio (DPR) is presently 154.72%.

About Kenvue

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.