Glenmede Trust Co. NA Has $30.80 Million Stock Position in Kenvue Inc. (NYSE:KVUE)

Glenmede Trust Co. NA cut its position in Kenvue Inc. (NYSE:KVUE) by 9.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,331,422 shares of the company’s stock after selling 136,897 shares during the quarter. Glenmede Trust Co. NA owned approximately 0.07% of Kenvue worth $30,796,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Riverview Trust Co acquired a new position in shares of Kenvue during the third quarter worth approximately $30,000. Ashton Thomas Securities LLC bought a new position in Kenvue during the third quarter worth $35,000. Studio Investment Management LLC raised its stake in Kenvue by 52.1% during the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after purchasing an additional 845 shares during the last quarter. Deseret Mutual Benefit Administrators boosted its holdings in Kenvue by 49.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after purchasing an additional 651 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Kenvue in the 2nd quarter worth $61,000. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Kenvue Stock Performance

KVUE stock opened at $24.12 on Thursday. The business has a fifty day moving average price of $22.89 and a 200 day moving average price of $20.94. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $24.46. The stock has a market capitalization of $46.24 billion, a price-to-earnings ratio of 43.85, a P/E/G ratio of 2.20 and a beta of 1.36.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company posted $0.31 earnings per share. Analysts expect that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Wednesday, November 13th. Kenvue’s dividend payout ratio is presently 149.09%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KVUE. Piper Sandler lifted their price objective on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Royal Bank of Canada cut Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price for the company. in a research report on Tuesday, September 24th. Jefferies Financial Group assumed coverage on shares of Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Finally, UBS Group upped their target price on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $22.64.

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.