Kenvue Inc. (NYSE:KVUE) Shares Sold by Toronto Dominion Bank

Toronto Dominion Bank decreased its holdings in Kenvue Inc. (NYSE:KVUE) by 6.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,025,618 shares of the company’s stock after selling 73,074 shares during the period. Toronto Dominion Bank owned about 0.05% of Kenvue worth $22,010,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of KVUE. Manchester Capital Management LLC grew its stake in shares of Kenvue by 80.8% in the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after acquiring an additional 530 shares in the last quarter. Planned Solutions Inc. acquired a new position in shares of Kenvue in the fourth quarter worth $27,000. Pacific Capital Wealth Advisors Inc. acquired a new position in shares of Kenvue in the fourth quarter worth $28,000. Mather Group LLC. acquired a new position in shares of Kenvue during the first quarter worth $28,000. Finally, Oakworth Capital Inc. acquired a new position in shares of Kenvue during the first quarter worth $31,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of NYSE:KVUE traded up $0.44 on Friday, reaching $18.69. The company’s stock had a trading volume of 11,484,659 shares, compared to its average volume of 16,902,116. The stock’s 50-day moving average is $18.59 and its two-hundred day moving average is $19.56. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $25.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The stock has a market capitalization of $35.79 billion, a P/E ratio of 23.96, a PEG ratio of 2.00 and a beta of 1.40.

Kenvue (NYSE:KVUE) last announced its earnings results on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $3.79 billion. Kenvue’s revenue was down 24.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Kenvue Inc. will post 1.13 EPS for the current year.

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 4.39%. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, August 14th. Kenvue’s payout ratio is 102.56%.

Wall Street Analyst Weigh In

KVUE has been the subject of a number of analyst reports. William Blair initiated coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They set a “market perform” rating for the company. HSBC boosted their target price on shares of 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 shares of Kenvue in a research note on Thursday, April 11th. They set an “underperform” rating and a $18.00 target price for the company. JPMorgan Chase & Co. lowered their target price on shares of Kenvue from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on shares of Kenvue from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Kenvue currently has a consensus rating of “Hold” and an average target price of $22.45.

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.