Essex Savings Bank Has $387,000 Stake in Kenvue Inc. (NYSE:KVUE)

Essex Savings Bank trimmed its position in shares of Kenvue Inc. (NYSE:KVUE) by 11.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,744 shares of the company’s stock after selling 2,206 shares during the quarter. Essex Savings Bank’s holdings in Kenvue were worth $387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in KVUE. Assetmark Inc. lifted its holdings in Kenvue by 29.9% in the 3rd quarter. Assetmark Inc. now owns 67,796 shares of the company’s stock worth $1,568,000 after purchasing an additional 15,593 shares during the last quarter. Verdence Capital Advisors LLC lifted its holdings in shares of Kenvue by 2.5% during the third quarter. Verdence Capital Advisors LLC now owns 40,462 shares of the company’s stock worth $936,000 after buying an additional 989 shares during the last quarter. Galvin Gaustad & Stein LLC acquired a new position in shares of Kenvue during the third quarter worth approximately $214,000. CWA Asset Management Group LLC acquired a new position in shares of Kenvue during the third quarter worth approximately $307,000. Finally, LS Investment Advisors LLC lifted its holdings in shares of Kenvue by 1.1% during the third quarter. LS Investment Advisors LLC now owns 51,745 shares of the company’s stock worth $1,197,000 after buying an additional 570 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective on the stock. in a research report on Tuesday, September 24th. UBS Group boosted their price objective on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Bank of America upped their price target on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Piper Sandler upped their price target on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $22.64.

Kenvue Trading Up 3.1 %

Shares of KVUE opened at $23.68 on Friday. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $23.72. The stock’s fifty day simple moving average is $22.65 and its 200-day simple moving average is $20.54. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $45.35 billion, a PE ratio of 40.83, a price-to-earnings-growth ratio of 2.94 and a beta of 1.36.

Kenvue (NYSE:KVUE) last released its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. As a group, research analysts predict that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio is currently 141.38%.

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.