Toronto Dominion Bank Decreases Stake in Kenvue Inc. (NYSE:KVUE)

Toronto Dominion Bank decreased its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 911,371 shares of the company’s stock after selling 118,710 shares during the quarter. Toronto Dominion Bank’s holdings in Kenvue were worth $19,457,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Sender Co & Partners Inc. grew its stake in Kenvue by 315.8% during the 4th quarter. Sender Co & Partners Inc. now owns 106,302 shares of the company’s stock valued at $2,270,000 after acquiring an additional 80,736 shares in the last quarter. Shell Asset Management Co. boosted its holdings in shares of Kenvue by 68.2% during the 4th quarter. Shell Asset Management Co. now owns 25,606 shares of the company’s stock worth $547,000 after purchasing an additional 10,378 shares during the last quarter. Royal Bank of Canada grew its position in shares of Kenvue by 12.8% in the fourth quarter. Royal Bank of Canada now owns 6,356,905 shares of the company’s stock valued at $135,721,000 after purchasing an additional 719,224 shares in the last quarter. Rafferty Asset Management LLC increased its holdings in shares of Kenvue by 12.6% in the fourth quarter. Rafferty Asset Management LLC now owns 166,423 shares of the company’s stock valued at $3,553,000 after purchasing an additional 18,598 shares during the last quarter. Finally, Quantinno Capital Management LP increased its holdings in shares of Kenvue by 97.3% in the fourth quarter. Quantinno Capital Management LP now owns 160,439 shares of the company’s stock valued at $3,425,000 after purchasing an additional 79,125 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Trading Down 0.8%

NYSE KVUE opened at $23.99 on Tuesday. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $25.17. The stock has a market capitalization of $46.03 billion, a P/E ratio of 45.26, a PEG ratio of 2.62 and a beta of 1.02. The firm’s 50-day moving average is $23.18 and its two-hundred day moving average is $22.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the prior year, the business posted $0.28 EPS. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be given a dividend of $0.205 per share. The ex-dividend date is Wednesday, May 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.42%. Kenvue’s dividend payout ratio is currently 149.09%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Piper Sandler boosted their price objective on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Redburn Atlantic assumed coverage on Kenvue in a report on Thursday, April 10th. They set a “neutral” rating and a $23.50 price target on the stock. Evercore ISI assumed coverage on shares of Kenvue in a report on Monday, March 24th. They issued an “in-line” rating and a $25.00 price objective for the company. UBS Group raised their price objective on shares of Kenvue from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Finally, Canaccord Genuity Group boosted their target price on shares of Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, March 5th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $25.33.

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.