Norges Bank Takes Position in Kenvue Inc. (NYSE:KVUE)

Norges Bank bought a new stake in Kenvue Inc. (NYSE:KVUE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 24,419,107 shares of the company's stock, valued at approximately $521,348,000. Norges Bank owned 1.27% of Kenvue as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

Several brokerages recently commented on KVUE. Deutsche Bank Aktiengesellschaft lowered Kenvue from a "buy" rating to a "hold" rating and decreased their price target for the company from $25.00 to $24.00 in a research note on Thursday, December 12th. Barclays upped their target price on shares of Kenvue from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 27th. Piper Sandler raised their price target on shares of Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, February 24th. UBS Group dropped their target price on Kenvue from $23.00 to $21.00 and set a "neutral" rating for the company in a research report on Friday, February 7th. Finally, Evercore ISI began coverage on shares of Kenvue in a research report on Monday, March 24th. They set an "in-line" rating and a $25.00 price target for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $24.00.

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Kenvue Stock Up 0.1 %

Shares of NYSE KVUE traded up $0.04 during mid-day trading on Wednesday, reaching $23.92. 5,934,884 shares of the company's stock were exchanged, compared to its average volume of 16,706,605. 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 business has a fifty day simple moving average of $22.44 and a 200 day simple moving average of $22.46. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. The firm has a market capitalization of $45.71 billion, a price-to-earnings ratio of 45.12, a PEG ratio of 2.62 and a beta of 1.25.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share 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%. As a group, equities analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.43%. Kenvue's dividend payout ratio (DPR) is 154.72%.

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.