Citizens Financial Group Inc. RI Grows Stake in Kenvue Inc. (NYSE:KVUE)

Citizens Financial Group Inc. RI raised its stake in Kenvue Inc. (NYSE:KVUE) by 7.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,545 shares of the company’s stock after purchasing an additional 822 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Kenvue were worth $277,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in KVUE. Pittenger & Anderson Inc. acquired a new position in Kenvue in the first quarter worth about $30,000. TruNorth Capital Management LLC acquired a new position in Kenvue in the first quarter worth about $36,000. Bank Julius Baer & Co. Ltd Zurich grew its stake in Kenvue by 120.6% in the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,699 shares of the company’s stock worth $41,000 after purchasing an additional 929 shares in the last quarter. Clarity Asset Management Inc. acquired a new position in Kenvue in the fourth quarter worth about $45,000. Finally, Continuum Advisory LLC grew its stake in Kenvue by 2,071.1% in the first quarter. Continuum Advisory LLC now owns 1,954 shares of the company’s stock worth $47,000 after purchasing an additional 1,864 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Stock Down 1.8%

Kenvue stock opened at $21.37 on Friday. The firm has a market cap of $41.00 billion, a price-to-earnings ratio of 28.88, a P/E/G ratio of 3.58 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.60. Kenvue Inc. has a fifty-two week low of $19.75 and a fifty-two week high of $25.17. The firm has a fifty day moving average price of $21.62 and a two-hundred day moving average price of $22.41.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The business had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.94 billion. Kenvue had a net margin of 9.37% and a return on equity of 20.36%. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 earnings per share. As a group, analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be given a $0.2075 dividend. This represents a $0.83 annualized dividend and a yield of 3.9%. This is a boost from Kenvue’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 13th. Kenvue’s dividend payout ratio (DPR) is currently 110.81%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Bank of America decreased their price target on Kenvue from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, July 15th. UBS Group decreased their price target on Kenvue from $25.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, July 17th. Barclays decreased their target price on Kenvue from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 15th. Citigroup decreased their target price on Kenvue from $24.50 to $22.00 and set a “neutral” rating for the company in a research note on Tuesday, July 15th. Finally, Royal Bank Of Canada decreased their target price on Kenvue from $24.00 to $22.00 and set a “sector perform” rating for the company in a research note on Friday. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $24.38.

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.