Westpac Banking Corp Increases Stock Holdings in Kenvue Inc. (NYSE:KVUE)

Westpac Banking Corp increased its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 68.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 325,615 shares of the company's stock after purchasing an additional 132,327 shares during the quarter. Westpac Banking Corp's holdings in Kenvue were worth $6,952,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Grove Bank & Trust raised its position in Kenvue by 438.4% during the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company's stock worth $25,000 after acquiring an additional 947 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Kenvue during the 4th quarter worth approximately $29,000. SRS Capital Advisors Inc. raised its position in shares of Kenvue by 67.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock worth $30,000 after purchasing an additional 571 shares during the last quarter. Fortitude Family Office LLC lifted its stake in Kenvue by 106.6% in the 4th quarter. Fortitude Family Office LLC now owns 1,506 shares of the company's stock valued at $32,000 after buying an additional 777 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in Kenvue by 300.8% during the 4th 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 last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Trading Down 5.5 %

Shares of KVUE stock traded down $1.29 on Friday, reaching $22.33. 17,763,957 shares of the stock were exchanged, compared to its average volume of 16,812,043. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. 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 firm has a 50 day moving average of $22.59 and a two-hundred day moving average of $22.46. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.46.

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Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. On average, research analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

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

Analyst Ratings Changes

KVUE has been the subject of a number of analyst reports. Piper Sandler boosted their price target on Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a report on Monday, February 24th. Canaccord Genuity Group upped their target price on shares of Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Barclays raised their price target on shares of Kenvue from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 27th. UBS Group cut their price objective on shares of Kenvue from $23.00 to $21.00 and set a "neutral" rating for the company in a research report on Friday, February 7th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $24.00 target price on shares of Kenvue in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target 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.