Kenvue Inc. (NYSE:KVUE) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 22.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 369,808 shares of the company's stock after selling 107,919 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Kenvue were worth $7,895,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KVUE. State Street Corp lifted its stake in shares of Kenvue by 16.8% during the 3rd 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 increased its stake in 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. Holocene Advisors LP increased its stake in Kenvue by 75.5% in the third quarter. Holocene Advisors LP now owns 13,886,454 shares of the company's stock valued at $321,194,000 after purchasing an additional 5,975,392 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Kenvue during the fourth quarter worth about $98,926,000. Finally, FMR LLC boosted its stake in Kenvue by 2.3% in the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company's stock worth $3,189,985,000 after buying an additional 3,075,019 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Barclays dropped their price objective on shares of Kenvue from $23.00 to $21.00 and set an "equal weight" rating for the company in a research note on Friday, January 17th. Canaccord Genuity Group upped their price target on shares of Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Piper Sandler lifted their price target on shares of Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Citigroup lowered their price objective on shares of Kenvue from $25.00 to $21.00 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. Finally, UBS Group cut their target price on Kenvue from $23.00 to $21.00 and set a "neutral" rating on the stock in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $23.75.

Kenvue Stock Up 2.6 %

Shares of KVUE stock traded up $0.60 during trading hours on Monday, reaching $23.41. The company had a trading volume of 16,372,401 shares, compared to its average volume of 16,125,040. The company has a market capitalization of $44.73 billion, a P/E ratio of 44.16, a price-to-earnings-growth ratio of 2.62 and a beta of 1.25. 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 Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. The stock's fifty day simple moving average is $21.84 and its 200 day simple moving average is $22.39.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share (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%. As a group, sell-side analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $0.205 dividend. The ex-dividend date was Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a yield of 3.50%. 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.