M&G Plc Has $99.85 Million Stake in Kenvue Inc. (NYSE:KVUE)

M&G PLC boosted its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 538.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,341,172 shares of the company's stock after acquiring an additional 3,660,730 shares during the period. M&G PLC owned approximately 0.23% of Kenvue worth $99,847,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC boosted its stake in Kenvue by 131.9% during the third quarter. Concurrent Investment Advisors LLC now owns 53,517 shares of the company's stock worth $1,238,000 after buying an additional 30,438 shares in the last quarter. HF Advisory Group LLC lifted its holdings in shares of Kenvue by 15.4% during the 3rd quarter. HF Advisory Group LLC now owns 110,205 shares of the company's stock worth $2,549,000 after acquiring an additional 14,686 shares during the period. Yacktman Asset Management LP boosted its position in shares of Kenvue by 2.9% during the 3rd quarter. Yacktman Asset Management LP now owns 8,381,404 shares of the company's stock valued at $193,862,000 after acquiring an additional 232,631 shares in the last quarter. National Pension Service increased its stake in Kenvue by 14.5% in the third quarter. National Pension Service now owns 2,829,772 shares of the company's stock valued at $65,453,000 after acquiring an additional 357,672 shares during the period. Finally, Cohen Capital Management Inc. raised its position in Kenvue by 1.6% in the third quarter. Cohen Capital Management Inc. now owns 168,193 shares of the company's stock worth $3,890,000 after purchasing an additional 2,640 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Kenvue from $23.00 to $24.00 and gave the company a "buy" rating in a report on Wednesday, August 7th. Piper Sandler boosted their price target on Kenvue from $20.00 to $21.00 and gave the company a "neutral" rating in a research note on Monday, September 23rd. Bank of America upped their price target on Kenvue from $24.00 to $27.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted 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. Finally, Royal Bank of Canada lowered shares of Kenvue from an "outperform" rating to a "sector perform" rating and set a $24.00 target price on the stock. in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Kenvue has an average rating of "Hold" and an average target price of $22.64.

Kenvue Trading Up 2.1 %

Shares of Kenvue stock traded up $0.47 during trading on Thursday, reaching $22.97. 28,743,004 shares of the company were exchanged, compared to its average volume of 18,148,850. The business has a 50-day moving average price of $22.59 and a 200-day moving average price of $20.49. The firm has a market capitalization of $43.99 billion, a price-to-earnings ratio of 38.79, a P/E/G ratio of 3.01 and a beta of 1.36. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $23.57.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.04. Kenvue had a return on equity of 21.80% and a net margin of 7.23%. The company had revenue of $4 billion during the quarter, compared to analysts' expectations of $3.93 billion. During the same period in the prior year, the business posted $0.32 EPS. Kenvue's revenue was down .3% on a year-over-year basis. Sell-side analysts anticipate that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.57%. The ex-dividend date is Wednesday, November 13th. Kenvue's payout ratio is presently 141.38%.

About Kenvue

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.