Cibc World Market Inc. Buys 59,723 Shares of Kenvue Inc. $KVUE

Cibc World Market Inc. raised its stake in shares of Kenvue Inc. (NYSE:KVUE) by 8.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 744,290 shares of the company’s stock after buying an additional 59,723 shares during the quarter. Cibc World Market Inc.’s holdings in Kenvue were worth $12,839,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Aberdeen Group plc raised its stake in Kenvue by 84.1% in the 3rd quarter. Aberdeen Group plc now owns 1,411,380 shares of the company’s stock worth $22,914,000 after purchasing an additional 644,930 shares in the last quarter. Oak Thistle LLC acquired a new stake in Kenvue in the 4th quarter worth about $1,563,000. Eubel Brady & Suttman Asset Management Inc. raised its stake in Kenvue by 39.7% in the 3rd quarter. Eubel Brady & Suttman Asset Management Inc. now owns 1,371,886 shares of the company’s stock worth $22,266,000 after purchasing an additional 389,704 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Kenvue by 25.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 410,874 shares of the company’s stock worth $7,088,000 after purchasing an additional 84,219 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Kenvue by 3,889.9% in the 4th quarter. SG Americas Securities LLC now owns 3,075,723 shares of the company’s stock worth $53,056,000 after purchasing an additional 2,998,635 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Matthew Orlando sold 38,491 shares of Kenvue stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $17.66, for a total transaction of $679,751.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.59% of the company’s stock.

Kenvue Trading Up 4.9%

Shares of Kenvue stock opened at $17.72 on Friday. The firm has a market capitalization of $34.01 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 1.28 and a beta of 0.54. The company has a current ratio of 0.98, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. The firm’s 50 day moving average is $17.37 and its 200 day moving average is $17.48. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $22.87.

Kenvue (NYSE:KVUE) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The firm’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 EPS. Equities research analysts forecast that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th were issued a dividend of $0.2075 per share. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.83 annualized dividend and a dividend yield of 4.7%. Kenvue’s payout ratio is 97.65%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on KVUE. UBS Group dropped their price objective on shares of Kenvue from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Canaccord Genuity Group upped their price target on shares of Kenvue from $17.00 to $18.00 and gave the stock a “hold” rating in a report on Wednesday, February 18th. Citigroup cut their price target on shares of Kenvue from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, April 15th. Barclays cut their price target on shares of Kenvue from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Tuesday, April 14th. Finally, Weiss Ratings downgraded shares of Kenvue from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $19.33.

Kenvue Company 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.