Nomura Asset Management Co. Ltd. cut its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 9.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,955,483 shares of the company's stock after selling 389,243 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.21% of Kenvue worth $84,450,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in Kenvue in the fourth quarter worth about $521,348,000. State Street Corp raised its holdings in shares of Kenvue by 16.8% in the 3rd quarter. State Street Corp now owns 127,213,940 shares of the company's stock valued at $2,942,458,000 after purchasing an additional 18,283,473 shares in the last quarter. Boston Partners lifted its position in shares of Kenvue by 36.9% in the 4th quarter. Boston Partners now owns 23,595,963 shares of the company's stock worth $503,145,000 after purchasing an additional 6,366,097 shares during the period. Holocene Advisors LP boosted its position in Kenvue by 75.5% during the 3rd quarter. Holocene Advisors LP now owns 13,886,454 shares of the company's stock valued at $321,194,000 after acquiring an additional 5,975,392 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Kenvue in the 4th quarter valued at $98,926,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
KVUE has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft cut Kenvue from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $25.00 to $24.00 in a research note on Thursday, December 12th. Evercore ISI began coverage on shares of Kenvue in a report on Monday, March 24th. They issued an "in-line" rating and a $25.00 price target on the stock. UBS Group cut their price objective on shares of Kenvue from $23.00 to $21.00 and set a "neutral" rating on the stock in a research report on Friday, February 7th. Canaccord Genuity Group increased their target price on shares of Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $24.00 price target on shares of Kenvue in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $24.00.
Get Our Latest Stock Analysis on KVUE
Kenvue Stock Performance
Shares of KVUE stock traded down $0.10 during mid-day trading on Tuesday, reaching $23.89. The stock had a trading volume of 2,546,213 shares, compared to its average volume of 14,759,132. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.46. 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 firm has a market cap of $45.65 billion, a price-to-earnings ratio of 45.07, a PEG ratio of 2.62 and a beta of 1.25. The business's fifty day moving average is $22.38 and its 200-day moving average is $22.46.
Kenvue (NYSE:KVUE - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. On average, research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.
Kenvue Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue's dividend payout ratio (DPR) is 154.72%.
Kenvue Profile
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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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