Assenagon Asset Management S.A. Purchases 616,292 Shares of Kenvue Inc. (NYSE:KVUE)

Assenagon Asset Management S.A. raised its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 270.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 843,901 shares of the company's stock after buying an additional 616,292 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Kenvue were worth $18,017,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in KVUE. Huntington National Bank increased its position in Kenvue by 26.5% during the 3rd quarter. Huntington National Bank now owns 4,161 shares of the company's stock worth $96,000 after purchasing an additional 871 shares in the last quarter. ING Groep NV boosted its stake in shares of Kenvue by 23.6% during the 3rd quarter. ING Groep NV now owns 3,576,616 shares of the company's stock valued at $82,727,000 after buying an additional 681,954 shares during the last quarter. Saturna Capital Corp increased its stake in shares of Kenvue by 29.9% in the third quarter. Saturna Capital Corp now owns 1,334,860 shares of the company's stock worth $30,875,000 after buying an additional 307,039 shares during the last quarter. Everence Capital Management Inc. increased its stake in shares of Kenvue by 122.1% in the fourth quarter. Everence Capital Management Inc. now owns 45,380 shares of the company's stock worth $969,000 after buying an additional 24,950 shares during the last quarter. Finally, Tyler Stone Wealth Management boosted its stake in Kenvue by 134.4% during the 3rd quarter. Tyler Stone Wealth Management now owns 49,050 shares of the company's stock valued at $1,135,000 after acquiring an additional 28,125 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Wall Street Analysts Forecast Growth

KVUE has been the subject of several research analyst reports. Citigroup dropped their target price on shares of Kenvue from $25.00 to $21.00 and set a "neutral" rating for the company in a research report on Wednesday. Piper Sandler upgraded Kenvue from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $21.00 to $26.00 in a research report on Monday, January 6th. Jefferies Financial Group initiated coverage on Kenvue in a research note on Tuesday, September 24th. They set a "buy" rating and a $27.00 price objective on the stock. Barclays dropped their target price on shares of Kenvue from $23.00 to $21.00 and set an "equal weight" rating on the stock in a report on Friday. Finally, UBS Group lowered their target price on Kenvue from $24.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Kenvue has a consensus rating of "Hold" and a consensus target price of $23.08.

Kenvue Stock Down 0.4 %

KVUE traded down $0.09 during trading on Friday, reaching $21.11. 11,266,973 shares of the stock traded hands, compared to its average volume of 8,612,558. 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's 50-day simple moving average is $22.42 and its two-hundred day simple moving average is $21.69. The stock has a market cap of $40.46 billion, a price-to-earnings ratio of 38.37, a price-to-earnings-growth ratio of 1.99 and a beta of 1.46.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same period in the previous year, the company earned $0.31 earnings per share. The company's quarterly revenue was down .4% compared to the same quarter last year. As a group, equities research analysts expect that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th will be issued a dividend of $0.205 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.82 annualized dividend and a yield of 3.89%. Kenvue's dividend payout ratio is currently 149.09%.

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.