Resona Asset Management Co. Ltd. Makes New $13.60 Million Investment in Kenvue Inc. (NYSE:KVUE)

Resona Asset Management Co. Ltd. purchased a new stake in Kenvue Inc. (NYSE:KVUE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 635,773 shares of the company's stock, valued at approximately $13,601,000.

A number of other institutional investors also recently bought and sold shares of the business. Prudential PLC lifted its stake in Kenvue by 1,699.1% during the fourth quarter. Prudential PLC now owns 574,143 shares of the company's stock worth $12,258,000 after purchasing an additional 542,231 shares during the last quarter. Huber Capital Management LLC lifted its position in shares of Kenvue by 15.6% during the 4th quarter. Huber Capital Management LLC now owns 169,300 shares of the company's stock worth $3,615,000 after buying an additional 22,900 shares during the last quarter. Allen Wealth Management LLC boosted its holdings in shares of Kenvue by 7.8% in the 4th quarter. Allen Wealth Management LLC now owns 82,559 shares of the company's stock valued at $1,763,000 after buying an additional 6,001 shares in the last quarter. Westpac Banking Corp boosted its holdings in shares of Kenvue by 68.5% in the 4th quarter. Westpac Banking Corp now owns 325,615 shares of the company's stock valued at $6,952,000 after buying an additional 132,327 shares in the last quarter. Finally, Bryce Point Capital LLC purchased a new position in shares of Kenvue in the 4th quarter valued at $469,000. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Evercore ISI began coverage on shares of Kenvue in a research note on Monday, March 24th. They issued an "in-line" rating and a $25.00 price objective for the company. Canaccord Genuity Group boosted their price objective on Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft downgraded Kenvue from a "buy" rating to a "hold" rating and decreased their price objective for the company from $25.00 to $24.00 in a report on Thursday, December 12th. UBS Group reduced their price target on shares of Kenvue from $23.00 to $21.00 and set a "neutral" rating for the company in a research report on Friday, February 7th. Finally, Piper Sandler raised their price objective on shares of Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $23.96.

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Kenvue Price Performance

Kenvue stock traded up $0.07 during midday trading on Friday, reaching $21.94. The company's stock had a trading volume of 2,918,691 shares, compared to its average volume of 16,881,970. The firm has a market capitalization of $41.92 billion, a PE ratio of 41.41, a P/E/G ratio of 2.62 and a beta of 1.02. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $24.46. The stock's 50 day simple moving average is $22.62 and its 200 day simple moving average is $22.41. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.26 EPS 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%. On average, equities research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue's dividend payout ratio is currently 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.