Empower Advisory Group LLC Makes New Investment in Kenvue Inc. (NYSE:KVUE)

Empower Advisory Group LLC bought a new position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,260,064 shares of the company's stock, valued at approximately $48,252,000. Empower Advisory Group LLC owned approximately 0.12% of Kenvue at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. FMR LLC grew its holdings in Kenvue by 2.3% during the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company's stock valued at $3,189,985,000 after buying an additional 3,075,019 shares in the last quarter. State Street Corp boosted 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 acquiring an additional 18,283,473 shares during the last quarter. Massachusetts Financial Services Co. MA grew 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 valued at $2,011,832,000 after acquiring an additional 7,115,374 shares in the last quarter. Geode Capital Management LLC increased its holdings in Kenvue by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company's stock valued at $1,029,810,000 after acquiring an additional 399,846 shares during the last quarter. Finally, Harris Associates L P lifted its stake in Kenvue by 7.5% in the 3rd quarter. Harris Associates L P now owns 31,459,511 shares of the company's stock worth $727,658,000 after purchasing an additional 2,186,114 shares in the last quarter. Institutional investors own 97.64% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on KVUE shares. Deutsche Bank Aktiengesellschaft lowered Kenvue from a "buy" rating to a "hold" rating and cut their price objective for the company from $25.00 to $24.00 in a research report on Thursday, December 12th. Piper Sandler upgraded Kenvue from a "neutral" rating to an "overweight" rating and raised their price target for the company from $21.00 to $26.00 in a report on Monday, January 6th. UBS Group reduced their price objective on Kenvue from $23.00 to $21.00 and set a "neutral" rating on the stock in a research note on Friday, February 7th. Barclays lowered their target price on 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 cut their target price on shares of Kenvue from $27.00 to $24.00 and set a "buy" rating for the company in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $23.00.

Kenvue Trading Up 4.1 %

Shares of KVUE traded up $0.92 during midday trading on Friday, hitting $23.31. The stock had a trading volume of 25,659,098 shares, compared to its average volume of 13,792,800. The stock's 50 day moving average is $21.29 and its 200 day moving average is $22.14. The firm has a market cap of $44.68 billion, a PE ratio of 43.97, a price-to-earnings-growth ratio of 2.61 and a beta of 1.45. 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 1 year low of $17.67 and a 1 year high of $24.46.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. As a group, analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Wednesday, February 12th. Kenvue's dividend payout ratio is currently 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.