Wellington Management Group LLP Has $1.83 Billion Position in Kenvue Inc. (NYSE:KVUE)

Wellington Management Group LLP lessened its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 79,087,472 shares of the company's stock after selling 3,514,638 shares during the quarter. Wellington Management Group LLP owned approximately 4.13% of Kenvue worth $1,829,293,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank lifted its holdings in shares of Kenvue by 26.5% in the third quarter. Huntington National Bank now owns 4,161 shares of the company's stock valued at $96,000 after purchasing an additional 871 shares in the last quarter. ING Groep NV boosted its position in Kenvue by 23.6% during the 3rd quarter. ING Groep NV now owns 3,576,616 shares of the company's stock worth $82,727,000 after acquiring an additional 681,954 shares during the period. Lorne Steinberg Wealth Management Inc. grew its stake in Kenvue by 59.0% during the 2nd quarter. Lorne Steinberg Wealth Management Inc. now owns 154,690 shares of the company's stock valued at $2,812,000 after acquiring an additional 57,375 shares in the last quarter. Kennon Green & Company LLC increased its holdings in shares of Kenvue by 140.7% in the 2nd quarter. Kennon Green & Company LLC now owns 159,106 shares of the company's stock valued at $2,893,000 after purchasing an additional 93,008 shares during the period. Finally, Czech National Bank lifted its position in shares of Kenvue by 20.3% in the second quarter. Czech National Bank now owns 364,886 shares of the company's stock worth $6,634,000 after purchasing an additional 61,635 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Analysts Set New Price Targets

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

Kenvue Stock Performance

Shares of NYSE:KVUE traded down $0.29 during trading on Friday, reaching $22.84. The stock had a trading volume of 9,708,660 shares, compared to its average volume of 13,840,819. The stock has a fifty day simple moving average of $22.97 and a two-hundred day simple moving average of $21.09. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.46. The firm has a market capitalization of $43.79 billion, a price-to-earnings ratio of 41.53, a P/E/G ratio of 2.10 and a beta of 1.36.

Kenvue (NYSE:KVUE - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The business's quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. As a group, analysts anticipate that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Announces Dividend

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

Kenvue Company 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.