Proficio Capital Partners LLC Purchases New Holdings in Kenvue Inc. (NYSE:KVUE)

Proficio Capital Partners LLC bought a new stake in Kenvue Inc. (NYSE:KVUE - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 76,967 shares of the company's stock, valued at approximately $1,643,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC boosted its holdings in Kenvue by 2.3% in the third quarter. FMR LLC now owns 137,915,493 shares of the company's stock valued at $3,189,985,000 after purchasing an additional 3,075,019 shares during the period. State Street Corp boosted its holdings in Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company's stock valued at $2,942,458,000 after purchasing an additional 18,283,473 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Kenvue by 8.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company's stock valued at $2,011,832,000 after purchasing an additional 7,115,374 shares during the period. Geode Capital Management LLC boosted 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 purchasing an additional 399,846 shares during the period. Finally, Harris Associates L P boosted its holdings in Kenvue by 7.5% in the third quarter. Harris Associates L P now owns 31,459,511 shares of the company's stock valued at $727,658,000 after purchasing an additional 2,186,114 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of research firms recently issued reports on KVUE. Deutsche Bank Aktiengesellschaft lowered Kenvue from a "buy" rating to a "hold" rating and decreased their target price for the company from $25.00 to $24.00 in a report on Thursday, December 12th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $24.00 price target on shares of Kenvue in a report on Monday, February 3rd. Barclays decreased their price target on Kenvue from $23.00 to $21.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Piper Sandler lifted their price target on Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Finally, UBS Group decreased their price target on Kenvue from $23.00 to $21.00 and set a "neutral" rating for the company in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Kenvue has a consensus rating of "Hold" and an average target price of $23.75.

Kenvue Stock Performance

Shares of KVUE traded down $0.05 during midday trading on Friday, reaching $23.34. 35,334,673 shares of the stock were exchanged, compared to its average volume of 16,169,860. The business's 50-day moving average price is $22.08 and its 200 day moving average price is $22.43. 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 twelve month low of $17.67 and a twelve month high of $24.46. The company has a market capitalization of $44.61 billion, a price-to-earnings ratio of 44.04, a PEG ratio of 2.62 and a beta of 1.25.

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

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue's dividend payout ratio (DPR) is presently 154.72%.

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.