OLD National Bancorp IN Purchases 10,167 Shares of Kenvue Inc. (NYSE:KVUE)

OLD National Bancorp IN grew its position in Kenvue Inc. (NYSE:KVUE) by 92.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,128 shares of the company’s stock after purchasing an additional 10,167 shares during the period. OLD National Bancorp IN’s holdings in Kenvue were worth $384,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of KVUE. Stephens Inc. AR grew its position in Kenvue by 86.1% in the fourth quarter. Stephens Inc. AR now owns 57,694 shares of the company’s stock valued at $1,242,000 after purchasing an additional 26,700 shares in the last quarter. Stifel Financial Corp increased its position in shares of Kenvue by 60.4% in the fourth quarter. Stifel Financial Corp now owns 745,064 shares of the company’s stock valued at $16,041,000 after acquiring an additional 280,591 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in Kenvue by 93,834.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 43,210 shares of the company’s stock worth $930,000 after acquiring an additional 43,164 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Kenvue by 2.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,598,567 shares of the company’s stock valued at $34,417,000 after purchasing an additional 40,995 shares during the last quarter. Finally, Cornerstone Wealth Group LLC grew its stake in Kenvue by 176.2% in the first quarter. Cornerstone Wealth Group LLC now owns 350,371 shares of the company’s stock valued at $7,519,000 after purchasing an additional 223,537 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KVUE has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Kenvue in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday. Citigroup decreased their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, HSBC raised their price objective on shares of Kenvue from $20.00 to $21.00 and gave the stock a “hold” rating in a research report on Wednesday, May 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $22.64.

Kenvue Price Performance

Shares of KVUE traded down $0.23 during trading hours on Friday, hitting $21.02. 20,636,934 shares of the company were exchanged, compared to its average volume of 19,304,982. The company has a market cap of $40.25 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 2.07 and a beta of 1.38. The firm’s fifty day moving average is $18.61 and its 200 day moving average is $19.44. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $24.10. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.93 billion. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The business’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. On average, equities analysts anticipate that Kenvue Inc. will post 1.13 earnings per share for the current fiscal year.

Kenvue Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th will be given a dividend of $0.205 per share. This is an increase from Kenvue’s previous quarterly dividend of $0.20. This represents a $0.82 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend is Wednesday, August 14th. Kenvue’s payout ratio is currently 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.