Kenvue Inc. (NYSE:KVUE) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC boosted its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,068,931 shares of the company's stock after buying an additional 1,391,854 shares during the period. Geode Capital Management LLC owned 2.40% of Kenvue worth $980,989,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in KVUE. Norges Bank purchased a new position in Kenvue in the 4th quarter worth approximately $521,348,000. State Street Corp grew its holdings in Kenvue by 16.8% in the 3rd 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 in the last quarter. Franklin Resources Inc. increased its stake in shares of Kenvue by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company's stock worth $912,059,000 after acquiring an additional 16,269,721 shares during the last quarter. Boston Partners raised its stake in Kenvue by 36.9% during the fourth quarter. Boston Partners now owns 23,595,963 shares of the company's stock worth $503,145,000 after purchasing an additional 6,366,097 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Kenvue in the 4th quarter valued at about $98,926,000. Hedge funds and other institutional investors own 97.64% of the company's stock.

Kenvue Stock Performance

NYSE KVUE traded down $1.29 on Friday, reaching $22.33. The stock had a trading volume of 17,763,957 shares, compared to its average volume of 16,812,043. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The stock has a market cap of $42.68 billion, a P/E ratio of 42.14, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. The business's 50-day moving average price is $22.59 and its 200 day moving average price is $22.46. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46.

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

Kenvue Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Wednesday, February 12th. Kenvue's dividend payout ratio is currently 154.72%.

Wall Street Analyst Weigh In

A number of research firms have commented on KVUE. UBS Group reduced their target price on Kenvue from $23.00 to $21.00 and set a "neutral" rating on the stock in a research report on Friday, February 7th. Barclays upped their price target on Kenvue from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft downgraded Kenvue from a "buy" rating to a "hold" rating and cut their price target for the stock from $25.00 to $24.00 in a report on Thursday, December 12th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $24.00 price target on shares of Kenvue in a report on Monday, February 3rd. Finally, Evercore ISI began coverage on Kenvue in a report on Monday, March 24th. They issued an "in-line" rating and a $25.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $24.00.

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.