Corbyn Investment Management Inc. MD Grows Stock Position in Kenvue Inc. (NYSE:KVUE)

Corbyn Investment Management Inc. MD raised its holdings in Kenvue Inc. (NYSE:KVUE) by 15.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 171,797 shares of the company’s stock after acquiring an additional 22,412 shares during the quarter. Kenvue makes up about 1.7% of Corbyn Investment Management Inc. MD’s holdings, making the stock its 21st largest holding. Corbyn Investment Management Inc. MD’s holdings in Kenvue were worth $3,699,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Community Bank N.A. raised its stake in Kenvue by 53.2% in the fourth quarter. Community Bank N.A. now owns 89,532 shares of the company’s stock valued at $1,927,000 after buying an additional 31,078 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in Kenvue by 8.4% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 38,338 shares of the company’s stock valued at $825,000 after buying an additional 2,971 shares during the last quarter. Yousif Capital Management LLC raised its stake in Kenvue by 26.8% in the fourth quarter. Yousif Capital Management LLC now owns 342,684 shares of the company’s stock valued at $7,378,000 after buying an additional 72,504 shares during the last quarter. GAMMA Investing LLC purchased a new position in shares of Kenvue in the fourth quarter worth about $140,000. Finally, Parkside Financial Bank & Trust raised its stake in shares of Kenvue by 20.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 18,258 shares of the company’s stock worth $393,000 after purchasing an additional 3,057 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on KVUE shares. JPMorgan Chase & Co. reduced their price objective on Kenvue from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Friday, February 9th. Royal Bank of Canada dropped their target price on Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, February 9th. William Blair assumed coverage on Kenvue in a report on Wednesday, April 3rd. They issued a “market perform” rating on the stock. Sanford C. Bernstein assumed coverage on Kenvue in a report on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective on the stock. Finally, The Goldman Sachs Group assumed coverage on Kenvue in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price objective on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Kenvue has a consensus rating of “Hold” and a consensus target price of $24.85.

Kenvue Trading Down 0.2 %

Shares of KVUE traded down $0.04 during mid-day trading on Friday, hitting $18.98. The company’s stock had a trading volume of 6,570,048 shares, compared to its average volume of 16,575,301. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The firm has a 50-day simple moving average of $19.84 and a 200 day simple moving average of $20.14. Kenvue Inc. has a 1-year low of $17.82 and a 1-year high of $27.80.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.31 EPS for the quarter, beating the consensus estimate of $0.28 by $0.03. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.78 billion. Kenvue’s quarterly revenue was down 2.7% compared to the same quarter last year. On average, research analysts expect that Kenvue Inc. will post 1.15 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend is Tuesday, May 7th.

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.