Everence Capital Management Inc. Raises Stock Position in Kenvue Inc. (NYSE:KVUE)

Everence Capital Management Inc. boosted its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 122.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,380 shares of the company's stock after buying an additional 24,950 shares during the period. Everence Capital Management Inc.'s holdings in Kenvue were worth $969,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings 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 valued at $2,942,458,000 after buying an additional 18,283,473 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Kenvue by 8.9% during the 3rd 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 last quarter. Holocene Advisors LP increased its holdings in Kenvue by 75.5% during the 3rd quarter. Holocene Advisors LP now owns 13,886,454 shares of the company's stock worth $321,194,000 after purchasing an additional 5,975,392 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Kenvue by 20.7% in the second quarter. American Century Companies Inc. now owns 27,382,644 shares of the company's stock worth $497,816,000 after purchasing an additional 4,700,697 shares during the last quarter. Finally, M&G PLC raised its stake in shares of Kenvue by 538.0% in the third quarter. M&G PLC now owns 4,341,172 shares of the company's stock worth $99,847,000 after purchasing an additional 3,660,730 shares during the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Kenvue Stock Performance

Shares of KVUE stock traded down $0.08 during trading hours on Friday, hitting $21.20. 6,079,181 shares of the company were exchanged, compared to its average volume of 7,166,541. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46. 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 fifty day simple moving average of $22.81 and a 200 day simple moving average of $21.51. The stock has a market capitalization of $40.65 billion, a price-to-earnings ratio of 38.55, a P/E/G ratio of 2.02 and a beta of 1.46.

Kenvue (NYSE:KVUE - Get Free Report) last released its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. The business had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The business's revenue for the quarter was down .4% on a year-over-year basis. During the same period last year, the business posted $0.31 earnings per share. Research analysts predict that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.87%. Kenvue's dividend payout ratio is presently 149.09%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft downgraded 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 report on Thursday, December 12th. Jefferies Financial Group began coverage on shares of Kenvue in a research note on Tuesday, September 24th. They issued a "buy" rating and a $27.00 target price for the company. Piper Sandler raised their price target on shares of Kenvue from $20.00 to $21.00 and gave the company a "neutral" rating in a research report on Monday, September 23rd. JPMorgan Chase & Co. boosted their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Finally, Bank of America increased their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $22.64.

About Kenvue

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.