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Parkside Financial Bank & Trust Cuts Share Holdings in Kenvue Inc. (NYSE:KVUE)

Parkside Financial Bank & Trust reduced its position in Kenvue Inc. (NYSE:KVUE – Free Report) by 6.0% during the second quarter, HoldingsChannel reports. The firm owned 17,030 shares of the company’s stock after selling 1,080 shares during the period. Parkside Financial Bank & Trust’s holdings in Kenvue were worth $310,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Manchester Capital Management LLC lifted its position in Kenvue by 80.8% in the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock valued at $25,000 after buying an additional 530 shares during the last quarter. Tradition Wealth Management LLC lifted its position in Kenvue by 2.8% in the fourth quarter. Tradition Wealth Management LLC now owns 21,278 shares of the company’s stock valued at $458,000 after buying an additional 575 shares in the last quarter. MV Capital Management Inc. lifted its position in shares of Kenvue by 71.2% in the first quarter. MV Capital Management Inc. now owns 1,544 shares of the company’s stock worth $33,000 after buying an additional 642 shares in the last quarter. Royal Capital Wealth Management LLC lifted its position in shares of Kenvue by 2.3% in the fourth quarter. Royal Capital Wealth Management LLC now owns 29,746 shares of the company’s stock worth $640,000 after buying an additional 673 shares in the last quarter. Finally, Cove Private Wealth LLC lifted its position in shares of Kenvue by 1.6% during the second quarter. Cove Private Wealth LLC now owns 44,539 shares of the company’s stock worth $810,000 after acquiring an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s shares.

Kenvue Stock Performance

Shares of Kenvue opened at $22.86 on Friday. The firm has a market cap of $43.77 billion, a P/E ratio of 29.31, a P/E/G ratio of 2.76 and a beta of 1.38. Kenvue Inc. it has a 52 week low of $17.67 and a 52 week high of $23.00. The company has a quick ratio of 0.68, a current ratio of 0.99, and a debt-to-equity ratio of 0.69. The company’s 50-day moving average is $19.92, and its two-hundred-day moving average is $19.67.

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Kenvue (NYSE:KVUE – Get Your Free Report ) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The company’s revenue fell 0.3% year-over-year. In the same period last year, the firm posted earnings of $0.32 per share. Research analysts forecast that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue is raising dividends

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Stockholders of record on Wednesday, August 14th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, August 14th. This is a positive change from Kenvue’s previous quarterly dividend of $0.20. This represents a dividend of $0.82 on an annualized basis and a dividend yield of 3.59%. Kenvue’s dividend payout ratio (DPR) is 105.13%.

Changes in Analyst Ratings

Several analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $24.00 target price on shares of Kenvue in a research report on Wednesday, August 7th. Citigroup decreased their target price on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 10th. UBS Group upped their target price on shares of Kenvue from $20.00 to $22.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Kenvue from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Kenvue has a consensus rating of “Hold” and an average target price of $22.64.

Check out the latest stock analysis on Kenvue

About Kenvue

(Free report)

Kenvue Inc operates as a global consumer health company. The company operates through three segments: Personal Care, Skin Health & 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.

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Want to see what other hedge funds own KVUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Kenvue Inc. (NYSE:KVUE – Free Report).

Quarterly Institutional Ownership of Kenvue (NYSE:KVUE)

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