Wells Fargo & Company MN trimmed its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,380,382 shares of the company's stock after selling 495,826 shares during the quarter. Wells Fargo & Company MN owned 0.23% of Kenvue worth $93,521,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Handelsbanken Fonder AB grew its holdings in shares of Kenvue by 2.9% during the 4th quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company's stock valued at $15,846,000 after purchasing an additional 21,222 shares during the last quarter. Alberta Investment Management Corp increased its holdings in shares of Kenvue by 23.2% during the fourth quarter. Alberta Investment Management Corp now owns 582,895 shares of the company's stock worth $12,445,000 after buying an additional 109,700 shares in the last quarter. Longbow Finance SA boosted its holdings in shares of Kenvue by 5.0% during the 4th quarter. Longbow Finance SA now owns 280,568 shares of the company's stock valued at $5,990,000 after acquiring an additional 13,287 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Kenvue by 143.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 47,938 shares of the company's stock worth $1,023,000 after acquiring an additional 28,216 shares during the last quarter. Finally, CORDA Investment Management LLC. increased its holdings in Kenvue by 1.4% in the 4th quarter. CORDA Investment Management LLC. now owns 1,253,096 shares of the company's stock worth $26,754,000 after purchasing an additional 17,466 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.
Analyst Ratings Changes
Several analysts have recently weighed in on the company. Evercore ISI initiated coverage on Kenvue in a report on Monday, March 24th. They set an "in-line" rating and a $25.00 price target on the stock. Piper Sandler lifted their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Canaccord Genuity Group lifted their target price on Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $24.00 price objective on shares of Kenvue in a research note on Monday, February 3rd. Finally, Redburn Atlantic started coverage on shares of Kenvue in a research report on Thursday. They issued a "neutral" rating and a $23.50 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $24.42.
Get Our Latest Report on Kenvue
Kenvue Stock Up 1.1 %
NYSE KVUE traded up $0.23 on Friday, hitting $22.10. 13,221,710 shares of the company were exchanged, compared to its average volume of 16,918,224. 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 company has a market cap of $42.25 billion, a PE ratio of 41.71, a PEG ratio of 2.62 and a beta of 1.02. The stock has a fifty day moving average of $22.65 and a 200-day moving average of $22.40. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $24.46.
Kenvue (NYSE:KVUE - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, meeting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. As a group, analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.
Kenvue Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date was Wednesday, February 12th. Kenvue's dividend payout ratio is currently 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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