Bank of New York Mellon Corp Has $191.27 Million Holdings in Kenvue Inc. $KVUE

Bank of New York Mellon Corp cut its position in shares of Kenvue Inc. (NYSE:KVUE) by 63.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,088,034 shares of the company’s stock after selling 19,272,231 shares during the quarter. Bank of New York Mellon Corp’s holdings in Kenvue were worth $191,269,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Kenvue by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company’s stock worth $4,052,913,000 after buying an additional 1,604,040 shares during the period. Geode Capital Management LLC increased its position in shares of Kenvue by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 49,862,574 shares of the company’s stock worth $856,778,000 after buying an additional 371,322 shares during the period. Norges Bank acquired a new stake in shares of Kenvue during the fourth quarter worth $756,862,000. American Century Companies Inc. increased its position in shares of Kenvue by 22.4% during the third quarter. American Century Companies Inc. now owns 37,046,660 shares of the company’s stock worth $601,267,000 after buying an additional 6,781,640 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Kenvue by 13.5% during the third quarter. Dimensional Fund Advisors LP now owns 23,127,234 shares of the company’s stock worth $375,377,000 after buying an additional 2,747,952 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Kenvue

In other Kenvue news, General Counsel Matthew Orlando sold 38,491 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $17.66, for a total value of $679,751.06. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.59% of the company’s stock.

Wall Street Analysts Forecast Growth

KVUE has been the topic of several research analyst reports. Citigroup cut their target price on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 15th. Weiss Ratings lowered shares of Kenvue from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 29th. Zacks Research raised shares of Kenvue from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 8th. UBS Group cut their target price on shares of Kenvue from $19.00 to $18.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Finally, Barclays cut their target price on shares of Kenvue from $19.00 to $18.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $19.33.

Kenvue Stock Up 4.9%

Shares of NYSE KVUE opened at $17.72 on Friday. The firm has a market cap of $34.01 billion, a PE ratio of 20.84, a P/E/G ratio of 1.28 and a beta of 0.54. Kenvue Inc. has a 12-month low of $14.02 and a 12-month high of $22.87. The company’s fifty day simple moving average is $17.37 and its 200 day simple moving average is $17.48. The company has a quick ratio of 0.70, a current ratio of 0.98 and a debt-to-equity ratio of 0.67.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.05. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period last year, the firm earned $0.24 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Wednesday, May 13th were paid a $0.2075 dividend. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date of this dividend was Wednesday, May 13th. Kenvue’s dividend payout ratio (DPR) is 97.65%.

Kenvue Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over?the?counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.