OFI Invest Asset Management Acquires New Stake in Kenvue Inc. $KVUE

OFI Invest Asset Management acquired a new stake in Kenvue Inc. (NYSE:KVUE) during the 4th quarter, Holdings Channel reports. The fund acquired 1,323,336 shares of the company’s stock, valued at approximately $22,828,000.

Several other institutional investors have also added to or reduced their stakes in KVUE. Cornerstone Planning Group LLC lifted its position in Kenvue by 705.2% during the 3rd quarter. Cornerstone Planning Group LLC now owns 1,554 shares of the company’s stock worth $25,000 after buying an additional 1,361 shares in the last quarter. NBT Bank N A NY raised its holdings in shares of Kenvue by 180.3% in the 3rd quarter. NBT Bank N A NY now owns 1,564 shares of the company’s stock valued at $25,000 after purchasing an additional 1,006 shares during the period. Salomon & Ludwin LLC bought a new stake in shares of Kenvue in the 3rd quarter valued at about $25,000. Golden State Wealth Management LLC raised its holdings in shares of Kenvue by 150.1% in the 3rd quarter. Golden State Wealth Management LLC now owns 1,983 shares of the company’s stock valued at $32,000 after purchasing an additional 1,190 shares during the period. Finally, Trust Co. of Vermont grew its stake in Kenvue by 50.9% in the 3rd quarter. Trust Co. of Vermont now owns 2,385 shares of the company’s stock valued at $39,000 after buying an additional 804 shares during the last quarter. 97.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on KVUE shares. Argus upgraded shares of Kenvue to a “hold” rating in a research note on Friday, March 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Kenvue in a report on Friday, January 9th. Barclays increased their price objective on shares of Kenvue from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, March 6th. UBS Group dropped their price objective on shares of Kenvue from $19.00 to $18.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Citigroup upped their price target on shares of Kenvue from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $19.50.

Kenvue Trading Up 3.6%

NYSE:KVUE opened at $17.33 on Thursday. The stock has a market capitalization of $33.22 billion, a price-to-earnings ratio of 22.51, a PEG ratio of 3.89 and a beta of 0.61. The firm has a fifty day simple moving average of $17.96 and a two-hundred day simple moving average of $17.06. Kenvue Inc. has a 12 month low of $14.02 and a 12 month high of $25.17. The company has a current ratio of 0.96, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Tuesday, February 17th. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The firm had revenue of $3.78 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Kenvue had a net margin of 9.72% and a return on equity of 19.72%. The business’s revenue was up 3.2% on a year-over-year basis. During the same period last year, the company earned $0.26 earnings per share. Analysts expect that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 11th were given a $0.2075 dividend. The ex-dividend date of this dividend was Wednesday, February 11th. This represents a $0.83 annualized dividend and a yield of 4.8%. Kenvue’s payout ratio is currently 107.79%.

Kenvue Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.