Chevy Chase Trust Holdings LLC Trims Stake in Kenvue Inc. (NYSE:KVUE)

Chevy Chase Trust Holdings LLC reduced its position in Kenvue Inc. (NYSE:KVUE) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 955,698 shares of the company’s stock after selling 7,060 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Kenvue were worth $20,509,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KVUE. Planned Solutions Inc. bought a new position in shares of Kenvue during the fourth quarter valued at approximately $27,000. Pacific Capital Wealth Advisors Inc. purchased a new position in Kenvue in the fourth quarter worth $28,000. Mather Group LLC. purchased a new position in Kenvue in the first quarter worth $28,000. Oakworth Capital Inc. purchased a new position in Kenvue in the first quarter worth $31,000. Finally, CVA Family Office LLC purchased a new position in Kenvue in the fourth quarter worth $32,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Stock Up 0.7 %

Shares of NYSE KVUE traded up $0.12 during mid-day trading on Thursday, reaching $17.82. The company had a trading volume of 864,894 shares, compared to its average volume of 19,231,580. 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 firm has a 50 day simple moving average of $19.05 and a two-hundred day simple moving average of $19.81. The stock has a market cap of $34.12 billion, a P/E ratio of 22.85, a PEG ratio of 1.93 and a beta of 1.40. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $25.61.

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. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The company 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. Sell-side analysts predict that Kenvue Inc. will post 1.17 earnings per share for the current year.

Kenvue Dividend Announcement

The firm 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. This represents a $0.80 annualized dividend and a yield of 4.49%. The ex-dividend date was Tuesday, May 7th. Kenvue’s payout ratio is currently 102.56%.

Analyst Ratings Changes

Several equities analysts have issued reports on KVUE shares. HSBC lifted their price target on shares of Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a report on Wednesday, May 8th. William Blair started coverage on shares of Kenvue in a research report on Wednesday, April 3rd. They set a “market perform” rating for the company. Citigroup decreased their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Sanford C. Bernstein started coverage on shares of Kenvue in a research report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective for the company. One equities 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 company’s stock. According to MarketBeat.com, Kenvue currently has an average rating of “Hold” and an average price target of $23.00.

Kenvue 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.