Whittier Trust Co. of Nevada Inc. Boosts Holdings in Kenvue Inc. (NYSE:KVUE)

Whittier Trust Co. of Nevada Inc. lifted its stake in Kenvue Inc. (NYSE:KVUE) by 40.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,219 shares of the company’s stock after buying an additional 1,221 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Kenvue were worth $90,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of KVUE. Vanguard Group Inc. grew its position in Kenvue by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 148,880,588 shares of the company’s stock worth $3,205,399,000 after purchasing an additional 2,226,390 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Kenvue by 19.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 109,327,221 shares of the company’s stock worth $2,353,816,000 after purchasing an additional 18,118,056 shares during the last quarter. Wellington Management Group LLP grew its position in Kenvue by 6.7% during the 4th quarter. Wellington Management Group LLP now owns 76,501,956 shares of the company’s stock worth $1,647,087,000 after purchasing an additional 4,815,126 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Kenvue by 9.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 66,665,454 shares of the company’s stock worth $1,435,307,000 after acquiring an additional 5,574,265 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Kenvue by 10.6% in the 1st quarter. Bank of New York Mellon Corp now owns 35,897,723 shares of the company’s stock worth $770,365,000 after acquiring an additional 3,438,207 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KVUE has been the subject of several recent analyst reports. William Blair initiated coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They issued a “market perform” rating for the company. Citigroup restated a “neutral” rating and issued a $21.00 target price on shares of Kenvue in a research note on Tuesday, May 28th. HSBC raised their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Finally, Sanford C. Bernstein began coverage on shares of Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 target price for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $23.09.

Kenvue Price Performance

KVUE traded down $0.03 during midday trading on Tuesday, reaching $18.22. 11,983,017 shares of the company’s stock were exchanged, compared to its average volume of 19,330,852. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The stock has a market capitalization of $34.89 billion, a PE ratio of 23.36, a P/E/G ratio of 1.94 and a beta of 1.40. The business’s 50-day moving average price is $19.08 and its 200 day moving average price is $19.85. Kenvue Inc. has a 1-year low of $17.75 and a 1-year high of $25.61.

Kenvue (NYSE:KVUE) last announced its earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The company’s revenue was down 24.9% on a year-over-year basis. As a group, equities analysts anticipate that Kenvue Inc. will post 1.17 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.39%. Kenvue’s dividend payout ratio (DPR) is presently 102.56%.

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.