Sawgrass Asset Management LLC Makes New $233,000 Investment in Kenvue Inc. (NYSE:KVUE)

Sawgrass Asset Management LLC acquired a new stake in Kenvue Inc. (NYSE:KVUE) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 10,077 shares of the company’s stock, valued at approximately $233,000.

Several other institutional investors also recently modified their holdings of KVUE. Natixis Advisors LLC lifted its position in shares of Kenvue by 78.5% in the third quarter. Natixis Advisors LLC now owns 1,772,963 shares of the company’s stock valued at $41,008,000 after buying an additional 779,683 shares during the last quarter. Mizuho Markets Americas LLC boosted its position in Kenvue by 464.4% during the third quarter. Mizuho Markets Americas LLC now owns 1,810,403 shares of the company’s stock worth $41,875,000 after purchasing an additional 1,489,647 shares during the period. Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of Kenvue by 2.0% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 56,703 shares of the company’s stock valued at $1,312,000 after purchasing an additional 1,114 shares during the last quarter. Kentucky Retirement Systems raised its position in shares of Kenvue by 2.7% in the third quarter. Kentucky Retirement Systems now owns 133,421 shares of the company’s stock valued at $3,086,000 after purchasing an additional 3,548 shares during the period. Finally, Empowered Funds LLC lifted its stake in shares of Kenvue by 16.0% during the 3rd quarter. Empowered Funds LLC now owns 149,371 shares of the company’s stock worth $3,455,000 after buying an additional 20,593 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Kenvue Trading Up 0.9 %

Shares of Kenvue stock opened at $23.82 on Monday. 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 12-month low of $17.67 and a 12-month high of $24.13. The company has a market capitalization of $45.67 billion, a price-to-earnings ratio of 43.31, a PEG ratio of 2.16 and a beta of 1.36. The firm’s 50-day moving average price is $22.77 and its two-hundred day moving average price is $20.70.

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

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $0.205 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.44%. Kenvue’s dividend payout ratio (DPR) is currently 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.