Principal Financial Group Inc. Reduces Stock Position in Kenvue Inc. (NYSE:KVUE)

Principal Financial Group Inc. decreased its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,331,373 shares of the company's stock after selling 33,078 shares during the quarter. Principal Financial Group Inc. owned approximately 0.12% of Kenvue worth $49,775,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alerus Financial NA boosted its stake in Kenvue by 0.3% during the 3rd quarter. Alerus Financial NA now owns 191,345 shares of the company's stock worth $4,426,000 after purchasing an additional 491 shares during the period. Kiley Juergens Wealth Management LLC boosted its stake in shares of Kenvue by 1.9% during the fourth quarter. Kiley Juergens Wealth Management LLC now owns 27,110 shares of the company's stock worth $579,000 after buying an additional 500 shares during the period. Principle Wealth Partners LLC boosted its stake in shares of Kenvue by 3.7% during the fourth quarter. Principle Wealth Partners LLC now owns 14,194 shares of the company's stock worth $303,000 after buying an additional 500 shares during the period. White Pine Capital LLC boosted its stake in shares of Kenvue by 1.0% during the fourth quarter. White Pine Capital LLC now owns 54,572 shares of the company's stock worth $1,165,000 after buying an additional 542 shares during the period. Finally, LS Investment Advisors LLC boosted its stake in shares of Kenvue by 1.1% during the third quarter. LS Investment Advisors LLC now owns 51,745 shares of the company's stock worth $1,197,000 after buying an additional 570 shares during the period. Institutional investors and hedge funds own 97.64% of the company's stock.

Kenvue Trading Up 4.1 %

Shares of NYSE:KVUE traded up $0.92 during trading on Friday, reaching $23.31. The stock had a trading volume of 25,659,098 shares, compared to its average volume of 13,792,800. The business has a fifty day moving average price of $21.29 and a 200-day moving average price of $22.14. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The stock has a market cap of $44.68 billion, a P/E ratio of 43.97, a PEG ratio of 2.61 and a beta of 1.45. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $24.46.

Kenvue (NYSE:KVUE - Get Free Report) last issued 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 return on equity of 20.97% and a net margin of 6.66%. As a group, analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date of this dividend is Wednesday, February 12th. Kenvue's dividend payout ratio is currently 154.72%.

Analyst Ratings Changes

Several brokerages recently weighed in on KVUE. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $24.00 price target on shares of Kenvue in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft cut shares of Kenvue from a "buy" rating to a "hold" rating and reduced their target price for the stock from $25.00 to $24.00 in a research note on Thursday, December 12th. Canaccord Genuity Group reduced their price objective on shares of Kenvue from $27.00 to $24.00 and set a "buy" rating for the company in a research report on Friday, February 7th. Piper Sandler upgraded shares of Kenvue from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $21.00 to $26.00 in a research report on Monday, January 6th. Finally, Barclays reduced their price target on Kenvue from $23.00 to $21.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Kenvue presently has an average rating of "Hold" and an average target price of $23.00.

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.