Westpac Banking Corp Raises Stake in Kenvue Inc. (NYSE:KVUE)

Westpac Banking Corp grew its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 68.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 325,615 shares of the company's stock after buying an additional 132,327 shares during the period. Westpac Banking Corp's holdings in Kenvue were worth $6,952,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in KVUE. Handelsbanken Fonder AB raised its stake in 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 acquiring an additional 21,222 shares during the last quarter. Alberta Investment Management Corp raised its stake 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 purchasing an additional 109,700 shares during the last quarter. Longbow Finance SA lifted its holdings in shares of Kenvue by 5.0% during the fourth quarter. Longbow Finance SA now owns 280,568 shares of the company's stock worth $5,990,000 after purchasing an additional 13,287 shares during the period. Steward Partners Investment Advisory LLC lifted its holdings in shares of Kenvue by 143.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 47,938 shares of the company's stock worth $1,023,000 after purchasing an additional 28,216 shares during the period. Finally, CORDA Investment Management LLC. grew its position in Kenvue by 1.4% in the 4th quarter. CORDA Investment Management LLC. now owns 1,253,096 shares of the company's stock valued at $26,754,000 after buying an additional 17,466 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Kenvue Price Performance

Shares of Kenvue stock traded up $0.18 on Tuesday, hitting $21.95. The company's stock had a trading volume of 4,049,903 shares, compared to its average volume of 16,802,597. The company has a market capitalization of $41.96 billion, a P/E ratio of 41.34, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46. The firm has a fifty day moving average price of $22.60 and a 200-day moving average price of $22.45. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

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

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue's payout ratio is 154.72%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on KVUE shares. Evercore ISI assumed coverage on shares of Kenvue in a research note on Monday, March 24th. They issued an "in-line" rating and a $25.00 target price for the company. UBS Group dropped their target price on Kenvue from $23.00 to $21.00 and set a "neutral" rating on the stock in a research report on Friday, February 7th. Barclays increased their target price on Kenvue from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Thursday, March 27th. Canaccord Genuity Group lifted their price target on Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Finally, Citigroup cut their price objective on Kenvue from $25.00 to $21.00 and set a "neutral" rating for the company in a research report on Wednesday, January 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, Kenvue 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.