Oddo BHF Asset Management Sas Makes New Investment in Kenvue Inc. (NYSE:KVUE)

Oddo BHF Asset Management Sas bought a new position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 67,884 shares of the company's stock, valued at approximately $1,570,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in shares of Kenvue by 34.9% during the second quarter. Assenagon Asset Management S.A. now owns 347,625 shares of the company's stock valued at $6,320,000 after acquiring an additional 89,896 shares during the period. Blue Trust Inc. grew its stake in Kenvue by 20.5% during the 2nd quarter. Blue Trust Inc. now owns 6,185 shares of the company's stock valued at $112,000 after acquiring an additional 1,054 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Kenvue by 9.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,216,574 shares of the company's stock worth $76,657,000 after purchasing an additional 351,999 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Kenvue by 20.4% during the second quarter. First Horizon Advisors Inc. now owns 24,093 shares of the company's stock worth $438,000 after purchasing an additional 4,076 shares during the period. Finally, Chevy Chase Trust Holdings LLC lifted its position in Kenvue by 9.5% in the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 1,046,754 shares of the company's stock worth $19,030,000 after buying an additional 91,056 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 analysts recently issued reports on KVUE shares. Bank of America lifted their price objective on Kenvue from $24.00 to $27.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Piper Sandler increased their price objective on Kenvue from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Monday, September 23rd. Royal Bank of Canada upgraded shares of Kenvue from a "hold" rating to a "moderate buy" rating in a research note on Monday, December 9th. JPMorgan Chase & Co. increased their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Finally, Barclays raised shares of Kenvue to a "hold" rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $22.64.

Kenvue Price Performance

Kenvue stock traded down $0.11 during mid-day trading on Friday, hitting $22.21. 9,184,286 shares of the company were exchanged, compared to its average volume of 17,639,725. The company has a market capitalization of $42.58 billion, a PE ratio of 40.38, a price-to-earnings-growth ratio of 2.02 and a beta of 1.36. The business has a fifty day moving average of $22.95 and a 200 day moving average of $21.20. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.46. 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 posted its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The company had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. During the same quarter last year, the business posted $0.31 earnings per share. The company's revenue was down .4% on a year-over-year basis. As a group, sell-side analysts expect that Kenvue Inc. will post 1.07 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were issued a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.69%. Kenvue's dividend payout ratio is currently 149.09%.

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.