Advisors Capital Management LLC Has $19.89 Million Position in Kenvue Inc. (NYSE:KVUE)

Advisors Capital Management LLC grew its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 3.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 931,765 shares of the company's stock after buying an additional 35,158 shares during the quarter. Advisors Capital Management LLC's holdings in Kenvue were worth $19,893,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank acquired a new stake in Kenvue during the fourth quarter valued at approximately $521,348,000. Franklin Resources Inc. lifted its position in shares of Kenvue by 61.5% during the 4th quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company's stock worth $912,059,000 after buying an additional 16,269,721 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Kenvue by 12.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company's stock valued at $2,085,070,000 after purchasing an additional 10,682,003 shares in the last quarter. Boston Partners boosted its position in Kenvue by 36.9% in the fourth quarter. Boston Partners now owns 23,595,963 shares of the company's stock valued at $503,145,000 after buying an additional 6,366,097 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Kenvue in the fourth quarter valued at about $98,926,000. 97.64% of the stock is owned by institutional investors.

Kenvue Trading Up 1.1 %

Shares of NYSE:KVUE traded up $0.25 during trading on Tuesday, hitting $22.96. 22,262,776 shares of the company's stock were exchanged, compared to its average volume of 16,951,647. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The firm has a market cap of $43.87 billion, a P/E ratio of 43.31, a PEG ratio of 2.62 and a beta of 1.02. The firm has a 50-day moving average price of $22.75 and a two-hundred day moving average price of $22.40. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.46.

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Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Equities analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a yield of 3.57%. Kenvue's dividend payout ratio is presently 154.72%.

Analyst Ratings Changes

A number of research firms have recently issued reports on KVUE. Evercore ISI assumed coverage on shares of Kenvue in a research note on Monday, March 24th. They issued an "in-line" rating and a $25.00 target price for the company. Citigroup boosted their price objective on Kenvue from $21.00 to $22.00 and gave the stock a "neutral" rating in a research note on Monday. Redburn Atlantic started coverage on Kenvue in a research note on Thursday, April 10th. They issued a "neutral" rating and a $23.50 target price for the company. Canaccord Genuity Group lifted their price target on Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Finally, Piper Sandler increased their price objective on shares of Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Kenvue has an average rating of "Hold" and an average target price of $24.42.

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.