Kenvue Inc. (NYSE:KVUE) Shares Sold by Canandaigua National Bank & Trust Co.

Canandaigua National Bank & Trust Co. decreased its position in Kenvue Inc. (NYSE:KVUE) by 9.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,444 shares of the company’s stock after selling 4,785 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Kenvue were worth $1,018,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in KVUE. HighPoint Advisor Group LLC bought a new stake in Kenvue during the 4th quarter valued at $1,355,000. PNC Financial Services Group Inc. raised its stake in shares of Kenvue by 43.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 411,184 shares of the company’s stock worth $8,853,000 after buying an additional 124,016 shares in the last quarter. Grayhawk Investment Strategies Inc. bought a new stake in shares of Kenvue in the 4th quarter worth $176,000. Accent Capital Management LLC bought a new stake in shares of Kenvue in the 4th quarter worth $581,000. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of Kenvue by 7.0% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 27,210 shares of the company’s stock worth $586,000 after buying an additional 1,770 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. William Blair assumed coverage on Kenvue in a research note on Wednesday, April 3rd. They issued a “market perform” rating on the stock. Citigroup reissued a “neutral” rating and issued a $21.00 price objective on shares of Kenvue in a research note on Tuesday, May 28th. HSBC boosted their price objective on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research note on Wednesday, May 8th. Sanford C. Bernstein initiated coverage on Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 target price on the stock. Finally, The Goldman Sachs Group initiated coverage on Kenvue in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Kenvue currently has an average rating of “Hold” and an average price target of $23.09.

Kenvue Stock Performance

Shares of KVUE stock opened at $18.52 on Wednesday. The company has a market capitalization of $35.45 billion and a price-to-earnings ratio of 23.74. Kenvue Inc. has a 1-year low of $17.75 and a 1-year high of $26.74. The company has a current ratio of 0.99, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The stock’s fifty day simple moving average is $19.33 and its 200-day simple moving average is $20.08.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The business’s revenue was down 24.9% on a year-over-year basis. On average, sell-side analysts predict that Kenvue Inc. will post 1.17 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors 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 dividend on an annualized basis and a yield of 4.32%. Kenvue’s payout ratio is 102.56%.

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.