Fulton Bank N.A. Has $1.34 Million Position in Kenvue Inc. (NYSE:KVUE)

Fulton Bank N.A. lowered its position in Kenvue Inc. (NYSE:KVUE) by 1.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,874 shares of the company’s stock after selling 841 shares during the period. Fulton Bank N.A.’s holdings in Kenvue were worth $1,343,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in KVUE. Manchester Capital Management LLC boosted its position in Kenvue by 80.8% during the first quarter. Manchester Capital Management LLC now owns 1,186 shares of the company’s stock worth $25,000 after purchasing an additional 530 shares during the period. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of Kenvue in the fourth quarter valued at approximately $28,000. Mather Group LLC. bought a new stake in shares of Kenvue in the first quarter valued at approximately $28,000. Oakworth Capital Inc. bought a new stake in shares of Kenvue in the first quarter valued at approximately $31,000. Finally, Pinnacle Bancorp Inc. boosted its position in shares of Kenvue by 51.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 1,552 shares of the company’s stock valued at $33,000 after acquiring an additional 526 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Price Performance

Kenvue stock traded up $2.66 during mid-day trading on Tuesday, hitting $20.85. 44,391,949 shares of the company were exchanged, compared to its average volume of 19,245,387. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.66. The business has a fifty day moving average of $18.47 and a 200 day moving average of $19.41. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.10. The company has a market capitalization of $39.92 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 2.07 and a beta of 1.38.

Kenvue (NYSE:KVUE) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.03. Kenvue had a return on equity of 21.06% and a net margin of 9.63%. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.79 billion. Kenvue’s quarterly revenue was down 24.9% compared to the same quarter last year. As a group, sell-side analysts expect that Kenvue Inc. will post 1.13 earnings per share for the current year.

Kenvue Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th will be issued a $0.205 dividend. This is a boost from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.82 annualized dividend and a yield of 3.93%. Kenvue’s dividend payout ratio (DPR) is currently 105.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on KVUE shares. HSBC increased their price objective on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. JPMorgan Chase & Co. reduced their price objective on Kenvue from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Sanford C. Bernstein began coverage on Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 target price for the company. Deutsche Bank Aktiengesellschaft cut their target price on Kenvue from $24.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Finally, Citigroup cut their target price on Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.45.

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.