Bank of New York Mellon Corp Has $880.72 Million Holdings in Kenvue Inc. (NYSE:KVUE)

Bank of New York Mellon Corp trimmed its stake in Kenvue Inc. (NYSE:KVUE) by 13.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,251,650 shares of the company’s stock after selling 6,607,060 shares during the period. Bank of New York Mellon Corp owned about 2.15% of Kenvue worth $880,723,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. FMR LLC lifted its position in shares of Kenvue by 2.3% in the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company’s stock worth $3,189,985,000 after purchasing an additional 3,075,019 shares during the period. State Street Corp increased its position in shares of Kenvue by 16.8% during the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after buying an additional 18,283,473 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Kenvue by 8.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock worth $2,011,832,000 after buying an additional 7,115,374 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Kenvue by 0.9% in the third quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock valued at $1,029,810,000 after buying an additional 399,846 shares during the period. Finally, Harris Associates L P boosted its position in Kenvue by 7.5% during the third quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock valued at $727,658,000 after acquiring an additional 2,186,114 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on KVUE shares. Citigroup lowered their price objective on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft cut Kenvue from a “buy” rating to a “hold” rating and decreased their target price for the stock from $25.00 to $24.00 in a research note on Thursday, December 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. Barclays reduced their price objective on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Finally, Canaccord Genuity Group dropped their target price on shares of Kenvue from $27.00 to $24.00 and set a “buy” rating on the stock in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $23.08.

Kenvue Stock Performance

KVUE opened at $23.33 on Tuesday. The company has a market cap of $44.72 billion, a price-to-earnings ratio of 44.01, a PEG ratio of 2.62 and a beta of 1.45. The company’s fifty day moving average price is $21.33 and its two-hundred day moving average price is $22.21. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.46. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. On average, analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a dividend of $0.205 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.82 annualized dividend and a dividend yield of 3.52%. Kenvue’s payout ratio is 154.72%.

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.