Fmr LLC Buys 3,075,019 Shares of Kenvue Inc. (NYSE:KVUE)

Fmr LLC boosted its stake in shares of Kenvue Inc. (NYSE:KVUE) by 2.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 137,915,493 shares of the company’s stock after buying an additional 3,075,019 shares during the quarter. Fmr LLC owned approximately 0.07% of Kenvue worth $3,189,985,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of KVUE. Van ECK Associates Corp lifted its stake in Kenvue by 110.9% in the second quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock worth $372,880,000 after purchasing an additional 10,783,258 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Kenvue by 21.0% in the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock worth $789,813,000 after buying an additional 7,546,362 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Kenvue by 8.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock worth $2,011,832,000 after acquiring an additional 7,115,374 shares during the last quarter. American Century Companies Inc. boosted its holdings in Kenvue by 20.7% during the 2nd quarter. American Century Companies Inc. now owns 27,382,644 shares of the company’s stock valued at $497,816,000 after acquiring an additional 4,700,697 shares during the period. Finally, M&G PLC grew its position in Kenvue by 538.0% in the 3rd quarter. M&G PLC now owns 4,341,172 shares of the company’s stock valued at $99,847,000 after acquiring an additional 3,660,730 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Up 0.7 %

KVUE stock opened at $24.25 on Tuesday. The stock has a market capitalization of $46.49 billion, a PE ratio of 44.09, a price-to-earnings-growth ratio of 2.19 and a beta of 1.36. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $24.40. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average of $22.86 and a 200 day moving average of $20.89.

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

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th will be paid a dividend of $0.205 per share. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 annualized dividend and a yield of 3.38%. Kenvue’s payout ratio is presently 149.09%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KVUE. Jefferies Financial Group initiated coverage on Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Piper Sandler raised their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 price target for the company. in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.64.

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.