First Hawaiian Bank Trims Position in Kenvue Inc. (NYSE:KVUE)

First Hawaiian Bank trimmed its position in shares of Kenvue Inc. (NYSE:KVUE) by 26.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 32,240 shares of the company’s stock after selling 11,812 shares during the period. First Hawaiian Bank’s holdings in Kenvue were worth $586,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in Kenvue by 23.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock valued at $2,887,773,000 after buying an additional 25,238,112 shares during the last quarter. Vanguard Group Inc. boosted its stake in Kenvue by 12.0% in the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock valued at $3,579,294,000 after acquiring an additional 17,908,497 shares during the period. Norges Bank acquired a new position in Kenvue in the fourth quarter valued at approximately $282,100,000. Clearbridge Investments LLC boosted its stake in Kenvue by 16,051.1% in the first quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock valued at $210,600,000 after acquiring an additional 9,752,836 shares during the period. Finally, Van ECK Associates Corp acquired a new position in Kenvue in the first quarter valued at approximately $208,745,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Stock Down 3.3 %

Shares of KVUE stock traded down $0.63 on Monday, reaching $18.19. 21,724,329 shares of the company’s stock traded hands, compared to its average volume of 19,076,688. The company has a market capitalization of $34.83 billion, a P/E ratio of 24.13, a price-to-earnings-growth ratio of 2.07 and a beta of 1.38. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.10. 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 business’s 50 day moving average price is $18.49 and its two-hundred day moving average price is $19.43.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $3.79 billion. Kenvue’s revenue was down 24.9% compared to the same quarter last year. On average, equities analysts forecast that Kenvue Inc. will post 1.13 earnings per share for the current year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.82 dividend on an annualized basis and a yield of 4.51%. This is an increase from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s payout ratio is 102.56%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on KVUE shares. Deutsche Bank Aktiengesellschaft decreased their target price on Kenvue from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Sanford C. Bernstein initiated coverage on Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 price objective for the company. Citigroup reduced their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. reduced their price objective on Kenvue from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Finally, HSBC boosted their target price on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $22.45.

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.