Envestnet Asset Management Inc. Raises Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Envestnet Asset Management Inc. boosted its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 79.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,224,056 shares of the company's stock after acquiring an additional 4,523,918 shares during the period. Envestnet Asset Management Inc. owned 0.53% of Kenvue worth $218,284,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in KVUE. Grove Bank & Trust raised its position in shares of Kenvue by 438.4% in the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company's stock worth $25,000 after acquiring an additional 947 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in Kenvue during the fourth quarter worth approximately $29,000. SRS Capital Advisors Inc. increased its holdings in Kenvue by 67.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock worth $30,000 after purchasing an additional 571 shares in the last quarter. Fortitude Family Office LLC increased its holdings in Kenvue by 106.6% in the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company's stock worth $32,000 after purchasing an additional 777 shares in the last quarter. Finally, Versant Capital Management Inc lifted its stake in Kenvue by 300.8% in the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company's stock valued at $41,000 after buying an additional 1,441 shares during the period. Institutional investors and hedge funds own 97.64% of the company's stock.

Kenvue Stock Up 1.1 %

Shares of Kenvue stock traded up $0.23 on Friday, hitting $22.10. The company had a trading volume of 13,221,710 shares, compared to its average volume of 16,888,330. The stock has a market capitalization of $42.25 billion, a price-to-earnings ratio of 41.71, a P/E/G ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. 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 of $22.65 and a 200-day moving average of $22.40.

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

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a dividend of $0.205 per share. 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 payout ratio is currently 154.72%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. UBS Group lowered their price objective on shares of Kenvue from $23.00 to $21.00 and set a "neutral" rating for the company in a research note on Friday, February 7th. Piper Sandler raised 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. Evercore ISI started coverage on shares of Kenvue in a report on Monday, March 24th. They set an "in-line" rating and a $25.00 price objective on the stock. Barclays raised their target price on Kenvue from $21.00 to $23.00 and gave the company an "equal weight" rating in a research note on Thursday, March 27th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $24.42.

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.