First Bank & Trust Has $2.11 Million Holdings in Kenvue Inc. (NYSE:KVUE)

First Bank & Trust trimmed its position in shares of Kenvue Inc. (NYSE:KVUE) by 2.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,107 shares of the company’s stock after selling 2,726 shares during the period. First Bank & Trust’s holdings in Kenvue were worth $2,107,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Cornerstone Wealth Group LLC increased its stake in Kenvue by 176.2% during the first quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock valued at $7,519,000 after acquiring an additional 223,537 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Kenvue by 56.2% in the first quarter. Janney Montgomery Scott LLC now owns 1,840,875 shares of the company’s stock valued at $39,505,000 after purchasing an additional 662,666 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Kenvue in the first quarter valued at $1,050,000. Norden Group LLC bought a new position in Kenvue in the first quarter worth $1,792,000. Finally, Lorne Steinberg Wealth Management Inc. boosted its stake in Kenvue by 59.0% during the second quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company’s stock worth $2,812,000 after buying an additional 57,375 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America upped their target price on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup lowered their price objective on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Piper Sandler raised their target price on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Jefferies Financial Group assumed coverage on Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target on the stock. Finally, Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price objective for the company. in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Kenvue currently has an average rating of “Hold” and an average target price of $22.64.

Kenvue Stock Performance

Shares of Kenvue stock traded down $0.33 during trading on Friday, reaching $22.64. The company’s stock had a trading volume of 8,395,809 shares, compared to its average volume of 18,116,203. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $23.55. The firm has a market cap of $43.36 billion, a PE ratio of 39.03, a P/E/G ratio of 3.00 and a beta of 1.40. The business’s 50-day moving average price is $22.41 and its 200-day moving average price is $20.29. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE) last released its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The firm had revenue of $4 billion during the quarter, compared to the consensus estimate of $3.93 billion. During the same period in the prior year, the company posted $0.32 EPS. The company’s revenue was down .3% compared to the same quarter last year. Equities analysts forecast that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date is Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is presently 141.38%.

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.