Riverview Trust Co Purchases New Holdings in Kenvue Inc. (NYSE:KVUE)

Riverview Trust Co bought a new position in Kenvue Inc. (NYSE:KVUE) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,277 shares of the company’s stock, valued at approximately $30,000.

A number of other large investors have also bought and sold shares of KVUE. Price T Rowe Associates Inc. MD increased its position in Kenvue by 23.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock worth $2,887,773,000 after buying an additional 25,238,112 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Kenvue by 12.0% in the first quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after acquiring an additional 17,908,497 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Kenvue by 110.9% in the second quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after acquiring an additional 10,783,258 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of Kenvue by 16,051.1% in the first quarter. Clearbridge Investments LLC now owns 9,813,597 shares of the company’s stock worth $210,600,000 after acquiring an additional 9,752,836 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Kenvue by 21.0% in the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock worth $789,813,000 after acquiring an additional 7,546,362 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KVUE has been the subject of a number of recent analyst reports. Jefferies Financial Group started coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target for the company. Citigroup decreased their target price on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lifted their price target on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Piper Sandler upped their price objective on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price on the stock. in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $22.20.

Kenvue Price Performance

Shares of NYSE:KVUE opened at $21.72 on Friday. The firm’s 50 day moving average price is $22.26 and its 200-day moving average price is $20.21. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $23.55. 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 stock has a market capitalization of $41.59 billion, a PE ratio of 27.85, a price-to-earnings-growth ratio of 2.76 and a beta of 1.40.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.04. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The business’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.32 EPS. Equities research analysts expect that Kenvue Inc. will post 1.08 EPS for the current year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio is 105.13%.

Kenvue 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.