Verity & Verity LLC Acquires 19,697 Shares of Kenvue Inc. (NYSE:KVUE)

Verity & Verity LLC increased its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 112.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,188 shares of the company's stock after acquiring an additional 19,697 shares during the period. Verity & Verity LLC's holdings in Kenvue were worth $794,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Street Corp lifted 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 valued at $2,942,458,000 after purchasing an additional 18,283,473 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Kenvue by 8.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company's stock valued at $2,011,832,000 after buying an additional 7,115,374 shares during the period. Holocene Advisors LP grew its holdings in shares of Kenvue by 75.5% in the third quarter. Holocene Advisors LP now owns 13,886,454 shares of the company's stock worth $321,194,000 after acquiring an additional 5,975,392 shares during the period. M&G PLC increased its position in Kenvue by 538.0% during the third quarter. M&G PLC now owns 4,341,172 shares of the company's stock valued at $99,847,000 after acquiring an additional 3,660,730 shares during the last quarter. Finally, FMR LLC lifted its holdings in Kenvue by 2.3% in the third quarter. FMR LLC now owns 137,915,493 shares of the company's stock valued at $3,189,985,000 after acquiring an additional 3,075,019 shares during the period. 97.64% of the stock is owned by institutional investors.

Kenvue Price Performance

Shares of Kenvue stock traded down $0.09 during trading hours on Friday, reaching $21.11. The company's stock had a trading volume of 11,266,973 shares, compared to its average volume of 8,612,558. The firm has a 50 day moving average price of $22.42 and a 200-day moving average price of $21.69. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The stock has a market cap of $40.46 billion, a P/E ratio of 38.37, a P/E/G ratio of 1.99 and a beta of 1.46. 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 issued its quarterly earnings data on Thursday, November 7th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. The business had revenue of $3.90 billion for 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 earnings per share. On average, analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a yield of 3.89%. Kenvue's dividend payout ratio is presently 149.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Kenvue in a research note on Tuesday, September 24th. They set a "buy" rating and a $27.00 price target for the company. UBS Group cut their target price on shares of Kenvue from $24.00 to $23.00 and set a "neutral" rating for the company in a research report on Thursday. Bank of America increased their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Piper Sandler raised shares of Kenvue from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $21.00 to $26.00 in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. raised their target price on Kenvue from $24.00 to $25.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $23.08.

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.