Chemung Canal Trust Co. Has $779,000 Stake in Kenvue Inc. (NYSE:KVUE)

Chemung Canal Trust Co. trimmed its position in shares of Kenvue Inc. (NYSE:KVUE) by 4.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,307 shares of the company’s stock after selling 1,853 shares during the quarter. Chemung Canal Trust Co.’s holdings in Kenvue were worth $779,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. First Bank & Trust bought a new stake in Kenvue during the first quarter worth $1,974,000. Independence Bank of Kentucky grew its holdings in Kenvue by 145.3% during the first quarter. Independence Bank of Kentucky now owns 4,381 shares of the company’s stock worth $94,000 after buying an additional 2,595 shares in the last quarter. Norris Perne & French LLP MI grew its holdings in Kenvue by 2.1% during the first quarter. Norris Perne & French LLP MI now owns 755,567 shares of the company’s stock worth $16,214,000 after buying an additional 15,559 shares in the last quarter. Register Financial Advisors LLC bought a new stake in Kenvue during the first quarter worth $161,000. Finally, Fifth Third Wealth Advisors LLC grew its holdings in Kenvue by 64.8% during the first quarter. Fifth Third Wealth Advisors LLC now owns 42,292 shares of the company’s stock worth $908,000 after buying an additional 16,626 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KVUE shares. Citigroup reiterated a “neutral” rating and set a $21.00 price target on shares of Kenvue in a report on Tuesday, May 28th. HSBC upped their price target on Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. Sanford C. Bernstein initiated coverage on Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective for the company. Finally, William Blair initiated coverage on Kenvue in a research note on Wednesday, April 3rd. They issued a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $23.09.

Kenvue Stock Down 1.3 %

KVUE stock opened at $18.18 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 company has a market capitalization of $34.81 billion and a price-to-earnings ratio of 23.31. Kenvue Inc. has a fifty-two week low of $17.75 and a fifty-two week high of $26.66. The stock has a fifty day moving average of $19.19 and a 200-day moving average of $19.98.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.03. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. As a group, equities research analysts predict that Kenvue Inc. will post 1.17 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th were issued 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 4.40%. Kenvue’s dividend payout ratio (DPR) is 102.56%.

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.