Vest Financial LLC Raises Position in Kenvue Inc. (NYSE:KVUE)

Vest Financial LLC increased its stake in shares of Kenvue Inc. (NYSE:KVUE) by 6.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,638,279 shares of the company’s stock after buying an additional 167,265 shares during the period. Kenvue comprises 1.0% of Vest Financial LLC’s portfolio, making the stock its 18th largest holding. Vest Financial LLC owned 0.14% of Kenvue worth $63,266,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of Kenvue by 3.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company’s stock valued at $5,249,665,000 after buying an additional 8,211,748 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Kenvue by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 218,543,705 shares of the company’s stock valued at $4,665,908,000 after buying an additional 1,636,741 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Kenvue by 12.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company’s stock valued at $2,085,070,000 after buying an additional 10,682,003 shares during the last quarter. Geode Capital Management LLC increased its position in Kenvue by 3.1% during the fourth 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 last quarter. Finally, Franklin Resources Inc. increased its position in Kenvue by 61.5% during the fourth 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 last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on KVUE shares. 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 upped their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. Barclays upped their price target on shares of Kenvue from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Evercore ISI started coverage on shares of Kenvue in a research report on Monday, March 24th. They set an “in-line” rating and a $25.00 price target for the company. Finally, UBS Group upped their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $25.33.

Kenvue Price Performance

Kenvue stock opened at $21.65 on Friday. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $25.17. The firm has a fifty day moving average of $23.21 and a 200-day moving average of $22.62. The firm has a market capitalization of $41.53 billion, a P/E ratio of 40.84, a PEG ratio of 2.62 and a beta of 1.02. 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 announced its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. As a group, analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were paid a $0.205 dividend. The ex-dividend date was Wednesday, May 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.79%. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

About Kenvue

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.