PNC Financial Services Group Inc. Lowers Stock Position in Kenvue Inc. $KVUE

PNC Financial Services Group Inc. decreased its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 17.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 379,123 shares of the company’s stock after selling 81,484 shares during the period. PNC Financial Services Group Inc.’s holdings in Kenvue were worth $6,153,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Salomon & Ludwin LLC purchased a new stake in shares of Kenvue in the third quarter valued at approximately $25,000. NBT Bank N A NY lifted its holdings in Kenvue by 180.3% in the third quarter. NBT Bank N A NY now owns 1,564 shares of the company’s stock valued at $25,000 after acquiring an additional 1,006 shares during the period. Cornerstone Planning Group LLC lifted its holdings in Kenvue by 705.2% in the third quarter. Cornerstone Planning Group LLC now owns 1,554 shares of the company’s stock valued at $25,000 after acquiring an additional 1,361 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Kenvue by 150.1% during the 3rd quarter. Golden State Wealth Management LLC now owns 1,983 shares of the company’s stock worth $32,000 after purchasing an additional 1,190 shares in the last quarter. Finally, Trust Co. of Vermont grew its stake in shares of Kenvue by 50.9% during the 3rd quarter. Trust Co. of Vermont now owns 2,385 shares of the company’s stock worth $39,000 after purchasing an additional 804 shares during the period. 97.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KVUE has been the subject of several recent analyst reports. Barclays raised their price objective on shares of Kenvue from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Kenvue in a research report on Friday, January 9th. Canaccord Genuity Group upped their price target on Kenvue from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Wednesday. Citigroup raised their price objective on Kenvue from $18.00 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Evercore set a $18.00 target price on Kenvue in a research report on Tuesday, October 28th. Four analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $20.08.

Insider Buying and Selling

In related news, Director Jeffrey C. Smith acquired 3,200,000 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was purchased at an average price of $17.37 per share, for a total transaction of $55,584,000.00. Following the transaction, the director owned 27,307,632 shares in the company, valued at $474,333,567.84. This trade represents a 13.27% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.68% of the company’s stock.

Kenvue Trading Down 1.1%

Shares of KVUE opened at $18.68 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.69. Kenvue Inc. has a 1-year low of $14.02 and a 1-year high of $25.17. The stock has a market cap of $35.78 billion, a price-to-earnings ratio of 24.25 and a beta of 0.59. The firm has a 50 day simple moving average of $17.51 and a 200-day simple moving average of $17.67.

Kenvue (NYSE:KVUE) last posted its earnings results on Tuesday, February 17th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.68 billion. Kenvue had a return on equity of 19.86% and a net margin of 9.72%.Kenvue’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. Equities analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 11th will be paid a dividend of $0.2075 per share. The ex-dividend date of this dividend is Wednesday, February 11th. This represents a $0.83 dividend on an annualized basis and a dividend yield of 4.4%. Kenvue’s dividend payout ratio (DPR) is presently 110.67%.

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.