JPMorgan Chase & Co. Decreases Position in Kenvue Inc. (NYSE:KVUE)

JPMorgan Chase & Co. reduced its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 54.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,452,952 shares of the company's stock after selling 35,141,362 shares during the period. JPMorgan Chase & Co. owned approximately 1.54% of Kenvue worth $681,247,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC lifted its holdings in Kenvue by 2.3% during the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company's stock worth $3,189,985,000 after buying an additional 3,075,019 shares during the last quarter. State Street Corp boosted its holdings in Kenvue by 16.8% in the third quarter. State Street Corp now owns 127,213,940 shares of the company's stock valued at $2,942,458,000 after purchasing an additional 18,283,473 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Kenvue by 8.9% in 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 purchasing an additional 7,115,374 shares during the last quarter. Geode Capital Management LLC raised its holdings in 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. Finally, Harris Associates L P lifted its position in shares of Kenvue by 7.5% during the 3rd quarter. Harris Associates L P now owns 31,459,511 shares of the company's stock worth $727,658,000 after buying an additional 2,186,114 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Stock Performance

Shares of NYSE:KVUE traded down $0.19 during midday trading on Friday, hitting $21.53. The stock had a trading volume of 9,823,479 shares, compared to its average volume of 17,434,760. The company has a market capitalization of $41.28 billion, a PE ratio of 39.15, a P/E/G ratio of 2.02 and a beta of 1.36. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $24.46. The stock has a 50 day moving average price of $22.96 and a two-hundred day moving average price of $21.40. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. The company had revenue of $3.90 billion for the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The firm's revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.31 EPS. As a group, equities analysts predict that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Wednesday, November 13th. Kenvue's dividend payout ratio (DPR) is currently 149.09%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on KVUE shares. Barclays upgraded shares of Kenvue to a "hold" rating in a research note on Thursday, December 12th. Deutsche Bank Aktiengesellschaft cut Kenvue from a "buy" rating to a "hold" rating and decreased their target price for the company from $25.00 to $24.00 in a research report on Thursday, December 12th. Royal Bank of Canada raised Kenvue from a "hold" rating to a "moderate buy" rating in a research report on Monday, December 9th. JPMorgan Chase & Co. boosted their price objective on Kenvue from $24.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. Finally, Bank of America raised their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $22.64.

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.