Burgundy Asset Management Ltd. Decreases Stake in Kenvue Inc. (NYSE:KVUE)

Burgundy Asset Management Ltd. reduced its stake in Kenvue Inc. (NYSE:KVUE) by 9.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,022,414 shares of the company’s stock after selling 598,451 shares during the period. Burgundy Asset Management Ltd. owned about 0.31% of Kenvue worth $128,579,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its stake in Kenvue by 3.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company’s stock worth $5,249,665,000 after purchasing an additional 8,211,748 shares during the period. Vanguard Group Inc. increased its stake in Kenvue by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 218,543,705 shares of the company’s stock worth $4,665,908,000 after purchasing an additional 1,636,741 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Kenvue by 12.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company’s stock worth $2,085,070,000 after purchasing an additional 10,682,003 shares during the period. Geode Capital Management LLC increased its stake in Kenvue by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 46,068,931 shares of the company’s stock worth $980,989,000 after purchasing an additional 1,391,854 shares during the period. Finally, Franklin Resources Inc. increased its stake in Kenvue by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company’s stock worth $912,059,000 after purchasing an additional 16,269,721 shares during the period. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on KVUE. Piper Sandler lifted their price target on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th. Barclays boosted their target price on Kenvue from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Monday, May 12th. Royal Bank of Canada reissued a “sector perform” rating and set a $24.00 target price on shares of Kenvue in a research note on Monday, February 3rd. Canaccord Genuity Group boosted their target price on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Finally, Evercore ISI began coverage on Kenvue in a research note on Monday, March 24th. They set an “in-line” rating and a $25.00 target price on the stock. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.33.

Kenvue Price Performance

Shares of KVUE stock opened at $23.49 on Friday. The stock has a market cap of $45.06 billion, a price-to-earnings ratio of 44.31, a PEG ratio of 2.62 and a beta of 1.02. The business’s fifty day moving average is $23.23 and its 200 day moving average is $22.62. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $25.17. 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 (NYSE:KVUE) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.01. The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. The firm’s revenue for the quarter was down 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 earnings per share. Research analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.82 annualized dividend and a yield of 3.49%. Kenvue’s payout ratio is 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.