Franklin Resources Inc. raised its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 61.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,719,377 shares of the company's stock after buying an additional 16,269,721 shares during the period. Franklin Resources Inc. owned about 2.23% of Kenvue worth $912,059,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Kenvue by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 218,543,705 shares of the company's stock valued at $4,665,908,000 after buying an additional 1,636,741 shares during the last quarter. 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 worth $2,942,458,000 after purchasing an additional 18,283,473 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Kenvue by 0.9% during 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. Harris Associates L P lifted its holdings in shares of Kenvue by 7.5% in the 3rd quarter. Harris Associates L P now owns 31,459,511 shares of the company's stock valued at $727,658,000 after purchasing an additional 2,186,114 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Kenvue by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,972,777 shares of the company's stock valued at $533,169,000 after purchasing an additional 561,570 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on KVUE shares. Citigroup reduced their price objective on Kenvue from $25.00 to $21.00 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a "buy" rating to a "hold" rating and reduced their price target for the company from $25.00 to $24.00 in a research report on Thursday, December 12th. Piper Sandler raised their price objective on shares of Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Canaccord Genuity Group upped their target price on shares of Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Finally, Evercore ISI assumed coverage on shares of Kenvue in a research note on Monday, March 24th. They set an "in-line" rating and a $25.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $24.00.
Read Our Latest Stock Report on KVUE
Kenvue Price Performance
Shares of Kenvue stock traded down $0.23 during trading on Thursday, reaching $23.65. The company's stock had a trading volume of 21,693,496 shares, compared to its average volume of 16,761,111. The business has a 50 day moving average price of $22.50 and a 200-day moving average price of $22.47. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46. The company has a market capitalization of $45.19 billion, a P/E ratio of 44.61, a price-to-earnings-growth 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.
Kenvue (NYSE:KVUE - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, hitting 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, sell-side analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.
Kenvue Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders 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 3.47%. Kenvue's dividend payout ratio (DPR) is presently 154.72%.
About Kenvue
(
Free Report)
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.
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