Royal London Asset Management Ltd. Has $49.84 Million Position in Kenvue Inc. (NYSE:KVUE)

Royal London Asset Management Ltd. boosted its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,334,433 shares of the company's stock after purchasing an additional 161,605 shares during the quarter. Royal London Asset Management Ltd. owned about 0.12% of Kenvue worth $49,840,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in KVUE. FMR LLC increased its position in shares of Kenvue by 2.3% during the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company's stock valued at $3,189,985,000 after purchasing an additional 3,075,019 shares during the period. State Street Corp boosted its position in Kenvue by 16.8% during the third quarter. State Street Corp now owns 127,213,940 shares of the company's stock worth $2,942,458,000 after purchasing an additional 18,283,473 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Kenvue by 8.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company's stock valued at $2,011,832,000 after purchasing an additional 7,115,374 shares during the last quarter. Geode Capital Management LLC raised its stake in Kenvue by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company's stock valued at $1,029,810,000 after purchasing an additional 399,846 shares during the last quarter. Finally, Harris Associates L P increased its position in shares of Kenvue by 7.5% during the third quarter. Harris Associates L P now owns 31,459,511 shares of the company's stock valued at $727,658,000 after purchasing an additional 2,186,114 shares during the period. 97.64% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. UBS Group dropped their price objective 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. Barclays lowered their price objective on shares of Kenvue from $23.00 to $21.00 and set an "equal weight" rating on the stock in a report on Friday, January 17th. Piper Sandler lifted their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. Evercore ISI initiated coverage on shares of Kenvue in a research report on Monday. They set an "in-line" rating and a $25.00 price objective for the company. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $24.00 price target on shares of Kenvue in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $23.85.

Kenvue Price Performance

KVUE traded down $0.29 on Tuesday, reaching $23.08. The company had a trading volume of 14,987,781 shares, compared to its average volume of 16,155,267. The company has a fifty day moving average of $22.13 and a 200-day moving average of $22.44. 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 company has a market capitalization of $44.11 billion, a P/E ratio of 43.55, a PEG ratio of 2.62 and a beta of 1.25. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.46.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. As a group, equities research analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given 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 yield of 3.55%. Kenvue's payout ratio is 154.72%.

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.