Principal Financial Group Inc. Acquires 73,542 Shares of Kenvue Inc. (NYSE:KVUE)

Principal Financial Group Inc. boosted its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,364,451 shares of the company's stock after purchasing an additional 73,542 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Kenvue worth $54,690,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in KVUE. Riverview Trust Co bought a new stake in shares of Kenvue in the 3rd quarter worth approximately $30,000. Studio Investment Management LLC boosted its stake in shares of Kenvue by 52.1% during the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company's stock worth $45,000 after acquiring an additional 845 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Kenvue in the 2nd quarter worth $61,000. Mather Group LLC. raised its holdings in Kenvue by 230.9% during the 2nd quarter. Mather Group LLC. now owns 4,232 shares of the company's stock worth $77,000 after buying an additional 2,953 shares during the period. Finally, AlphaMark Advisors LLC acquired a new stake in shares of Kenvue during the third quarter valued at approximately $77,000. Institutional investors own 97.64% of the company's stock.

Kenvue Trading Up 0.4 %

Shares of Kenvue stock traded up $0.10 during trading on Monday, reaching $23.78. 13,837,465 shares of the company were exchanged, compared to its average volume of 18,122,139. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $23.88. The business has a 50-day moving average price of $22.65 and a 200-day moving average price of $20.55. The firm has a market capitalization of $45.54 billion, a price-to-earnings ratio of 43.27, a P/E/G ratio of 3.10 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 (NYSE:KVUE - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported $0.28 earnings per share for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. Kenvue had a return on equity of 21.41% and a net margin of 6.88%. The company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. During the same quarter last year, the firm earned $0.31 earnings per share. The company's revenue was down .4% on a year-over-year basis. Sell-side analysts anticipate that Kenvue Inc. will post 1.07 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.45%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue's dividend payout ratio (DPR) is currently 149.09%.

Wall Street Analyst Weigh In

KVUE has been the subject of a number of research analyst reports. Bank of America raised their target price on Kenvue from $24.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Royal Bank of Canada cut Kenvue from an "outperform" rating to a "sector perform" rating and set a $24.00 target price on the stock. in a research note on Tuesday, September 24th. Piper Sandler increased their price target on shares of Kenvue from $20.00 to $21.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kenvue from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Wednesday, August 7th. Finally, UBS Group lifted their target price on shares of Kenvue from $20.00 to $22.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $22.64.

Kenvue Company 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.