BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $7.39 Million Stock Position in Kenvue Inc. (NYSE:KVUE)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 12.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 319,466 shares of the company's stock after selling 47,235 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Kenvue were worth $7,389,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in KVUE. Riverview Trust Co acquired a new position in Kenvue during the 3rd quarter worth approximately $30,000. Ashton Thomas Securities LLC bought a new position in Kenvue in the third quarter valued at $35,000. Studio Investment Management LLC increased its stake in Kenvue by 52.1% in the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company's stock valued at $45,000 after buying an additional 845 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its position in Kenvue by 49.7% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company's stock worth $45,000 after buying an additional 651 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Kenvue during the 2nd quarter worth about $61,000. 97.64% of the stock is owned by institutional investors.

Kenvue Stock Performance

KVUE stock traded up $0.18 during mid-day trading on Monday, hitting $24.26. 9,928,089 shares of the company were exchanged, compared to its average volume of 17,790,248. 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 $46.51 billion, a PE ratio of 44.11, a price-to-earnings-growth ratio of 2.19 and a beta of 1.36. The business has a 50 day simple moving average of $22.96 and a 200-day simple moving average of $21.02. 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 released its quarterly earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $3.90 billion during the quarter, compared to analysts' expectations 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 period last year, the firm posted $0.31 EPS. On average, equities analysts forecast that Kenvue Inc. will post 1.07 earnings per share for the current year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date was Wednesday, November 13th. Kenvue's dividend payout ratio is 149.09%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on KVUE. Royal Bank of Canada downgraded Kenvue from an "outperform" rating to a "sector perform" rating and set a $24.00 target price on the stock. in a research report on Tuesday, September 24th. UBS Group upped their price objective on Kenvue from $20.00 to $22.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on Kenvue from $24.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Bank of America boosted their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group started coverage on shares of Kenvue in a research note on Tuesday, September 24th. They issued a "buy" rating and a $27.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average 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.