Envestnet Portfolio Solutions Inc. Has $10.42 Million Position in Kenvue Inc. (NYSE:KVUE)

Envestnet Portfolio Solutions Inc. increased its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 159.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 488,258 shares of the company's stock after buying an additional 300,137 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Kenvue were worth $10,424,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of Kenvue by 2.3% in the third 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 in the last quarter. State Street Corp grew its stake in shares of Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company's stock worth $2,942,458,000 after purchasing an additional 18,283,473 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Kenvue by 8.9% in 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 purchasing an additional 7,115,374 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Kenvue by 0.9% in the third quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company's stock worth $1,029,810,000 after purchasing an additional 399,846 shares in the last quarter. Finally, Harris Associates L P grew its stake in shares of Kenvue by 7.5% in the third 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. 97.64% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

KVUE has been the subject of several recent analyst reports. Canaccord Genuity Group increased their price target on Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft cut Kenvue from a "buy" rating to a "hold" rating and decreased their price target for the stock from $25.00 to $24.00 in a research note on Thursday, December 12th. UBS Group decreased their price target on Kenvue from $23.00 to $21.00 and set a "neutral" rating for the company in a research note on Friday, February 7th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $24.00 target price on shares of Kenvue in a research note on Monday, February 3rd. Finally, Barclays decreased their target price on Kenvue from $23.00 to $21.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $23.75.

Kenvue Trading Down 0.5 %

Shares of NYSE KVUE traded down $0.12 during mid-day trading on Thursday, hitting $23.41. 16,421,965 shares of the company traded hands, compared to its average volume of 16,076,434. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $24.46. The stock has a market capitalization of $44.74 billion, a price-to-earnings ratio of 44.17, a PEG ratio of 2.62 and a beta of 1.25. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The business has a 50 day moving average of $21.98 and a two-hundred day moving average of $22.42.

Kenvue (NYSE:KVUE - Get Free Report) last announced its 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 return on equity of 20.97% and a net margin of 6.66%. On average, sell-side analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.50%. The ex-dividend date 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.