M&T Bank Corp Cuts Position in Kenvue Inc. (NYSE:KVUE)

M&T Bank Corp decreased its holdings in Kenvue Inc. (NYSE:KVUE) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 105,547 shares of the company’s stock after selling 1,047 shares during the quarter. M&T Bank Corp’s holdings in Kenvue were worth $2,254,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. FMR LLC increased its position in shares of Kenvue by 2.3% in the third quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after buying an additional 3,075,019 shares in the last quarter. State Street Corp increased its position in shares of Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock valued at $2,942,458,000 after buying an additional 18,283,473 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Kenvue by 8.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after buying an additional 7,115,374 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Kenvue by 0.9% in the third quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock valued at $1,029,810,000 after buying an additional 399,846 shares in the last quarter. Finally, Harris Associates L P increased its position in shares of Kenvue by 7.5% in the third quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock valued at $727,658,000 after buying an additional 2,186,114 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on KVUE shares. UBS Group dropped their price target on Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, February 7th. Canaccord Genuity Group raised their price target on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $25.00 to $24.00 in a research report on Thursday, December 12th. Barclays dropped their price objective on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $24.00 price objective on shares of Kenvue in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.75.

Kenvue Stock Up 1.2 %

Shares of NYSE:KVUE opened at $23.46 on Monday. The stock’s 50-day moving average price is $21.64 and its two-hundred day moving average price is $22.33. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46. The firm has a market cap of $44.83 billion, a price-to-earnings ratio of 44.25, a PEG ratio of 2.62 and a beta of 1.25.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (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%. On average, research analysts forecast that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date was Wednesday, February 12th. Kenvue’s payout ratio is 154.72%.

About Kenvue

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.