Bank of Nova Scotia Sells 519,266 Shares of Kenvue Inc. (NYSE:KVUE)

Bank of Nova Scotia lessened its position in Kenvue Inc. (NYSE:KVUE) by 67.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 255,793 shares of the company’s stock after selling 519,266 shares during the period. Bank of Nova Scotia’s holdings in Kenvue were worth $5,461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Grove Bank & Trust boosted its holdings in shares of Kenvue by 438.4% during the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after buying an additional 947 shares during the period. Geneos Wealth Management Inc. acquired a new stake in Kenvue during the fourth quarter worth approximately $29,000. SRS Capital Advisors Inc. lifted its position in Kenvue by 67.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock worth $30,000 after acquiring an additional 571 shares during the last quarter. Fortitude Family Office LLC boosted its holdings in shares of Kenvue by 106.6% during the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock worth $32,000 after acquiring an additional 777 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of Kenvue by 300.8% in the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock valued at $41,000 after purchasing an additional 1,441 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Stock Performance

Shares of NYSE:KVUE opened at $22.10 on Friday. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $24.46. The stock has a market capitalization of $42.25 billion, a price-to-earnings ratio of 41.71, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The company’s 50 day simple moving average is $22.65 and its 200 day simple moving average is $22.40.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. As a group, research analysts predict that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.71%. Kenvue’s dividend payout ratio (DPR) is currently 154.72%.

Analyst Ratings Changes

Several analysts recently weighed in on KVUE shares. Piper Sandler lifted their price target on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Evercore ISI started coverage on shares of Kenvue in a research report on Monday, March 24th. They issued an “in-line” rating and a $25.00 target price for the company. UBS Group lowered their price target on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, February 7th. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price objective on shares of Kenvue in a report on Monday, February 3rd. Finally, Citigroup lowered their target price on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kenvue presently has an average rating of “Hold” and a consensus target price of $24.42.

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.