State Street Corp Acquires 18,283,473 Shares of Kenvue Inc. (NYSE:KVUE)

State Street Corp boosted its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 16.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 127,213,940 shares of the company's stock after purchasing an additional 18,283,473 shares during the period. State Street Corp owned 6.64% of Kenvue worth $2,942,458,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KVUE. Riverview Trust Co acquired a new position in shares of Kenvue during the 3rd quarter worth $30,000. Ashton Thomas Securities LLC bought a new stake in Kenvue in the third quarter worth $35,000. Studio Investment Management LLC increased its position in Kenvue by 52.1% during the second quarter. Studio Investment Management LLC now owns 2,468 shares of the company's stock worth $45,000 after buying an additional 845 shares during the last quarter. Deseret Mutual Benefit Administrators raised its holdings in Kenvue by 49.7% during the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company's stock valued at $45,000 after buying an additional 651 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in shares of Kenvue in the second quarter worth about $61,000. Hedge funds and other institutional investors own 97.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on KVUE shares. JPMorgan Chase & Co. increased their price objective on Kenvue from $24.00 to $25.00 and gave the company an "overweight" rating in a report on Friday, October 11th. Royal Bank of Canada downgraded Kenvue from an "outperform" rating to a "sector perform" rating and set a $24.00 price target on the stock. in a report on Tuesday, September 24th. Jefferies Financial Group began coverage on shares of Kenvue in a research note on Tuesday, September 24th. They issued a "buy" rating and a $27.00 price objective for the company. Piper Sandler upped their price objective on shares of Kenvue from $20.00 to $21.00 and gave the stock a "neutral" rating in a report on Monday, September 23rd. Finally, Bank of America lifted their target price on shares of Kenvue from $24.00 to $27.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $22.64.

Kenvue Stock Performance

Shares of KVUE traded down $0.29 during trading hours on Friday, reaching $22.84. 9,708,660 shares of the company traded hands, compared to its average volume of 17,762,063. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.46. The stock has a market cap of $43.79 billion, a P/E ratio of 41.53, a price-to-earnings-growth ratio of 2.13 and a beta of 1.36. The stock's fifty day moving average is $22.97 and its 200 day moving average is $21.09. 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, November 7th. The company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. The company had revenue of $3.90 billion during the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a return on equity of 21.43% and a net margin of 6.88%. The company's quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company earned $0.31 EPS. Equities research analysts anticipate that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.205 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.59%. Kenvue's dividend payout ratio is currently 149.09%.

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.