PNC Financial Services Group Inc. Acquires 124,016 Shares of Kenvue Inc. (NYSE:KVUE)

PNC Financial Services Group Inc. raised its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 43.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 411,184 shares of the company’s stock after acquiring an additional 124,016 shares during the period. PNC Financial Services Group Inc.’s holdings in Kenvue were worth $8,853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in KVUE. Beaumont Financial Advisors LLC grew its holdings in shares of Kenvue by 3.0% in the 4th quarter. Beaumont Financial Advisors LLC now owns 17,532 shares of the company’s stock valued at $377,000 after buying an additional 509 shares during the period. Pinnacle Bancorp Inc. boosted its stake in Kenvue by 51.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock worth $33,000 after purchasing an additional 526 shares during the period. Dfpg Investments LLC boosted its stake in Kenvue by 2.3% in the 4th quarter. Dfpg Investments LLC now owns 26,659 shares of the company’s stock worth $567,000 after purchasing an additional 589 shares during the period. Mutual Advisors LLC boosted its stake in Kenvue by 6.1% in the 4th quarter. Mutual Advisors LLC now owns 10,606 shares of the company’s stock worth $228,000 after purchasing an additional 612 shares during the period. Finally, Royal Capital Wealth Management LLC boosted its stake in Kenvue by 2.3% in the 4th quarter. Royal Capital Wealth Management LLC now owns 29,746 shares of the company’s stock worth $640,000 after purchasing an additional 673 shares during the period. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Down 2.2 %

Shares of KVUE stock opened at $19.44 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.68 and a current ratio of 0.99. The firm’s 50-day moving average is $20.01 and its 200-day moving average is $20.20. The stock has a market cap of $37.21 billion and a price-to-earnings ratio of 24.92. Kenvue Inc. has a 52-week low of $17.82 and a 52-week high of $26.74.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $3.79 billion. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. Kenvue’s revenue for the quarter was down 24.9% compared to the same quarter last year. Sell-side analysts predict that Kenvue Inc. will post 1.15 EPS for the current year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $0.80 annualized dividend and a yield of 4.12%. Kenvue’s dividend payout ratio (DPR) is presently 102.56%.

Analyst Ratings Changes

A number of brokerages recently weighed in on KVUE. 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. JPMorgan Chase & Co. reduced their target price on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Royal Bank of Canada reduced their target price on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating for the company in a research note on Friday, February 9th. HSBC boosted their price target on shares of Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. Finally, William Blair assumed coverage on shares of Kenvue in a research report on Wednesday, April 3rd. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Kenvue presently has a consensus rating of “Hold” and an average price target of $24.38.

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.