Kovitz Investment Group Partners LLC Grows Position in Kenvue Inc. (NYSE:KVUE)

Kovitz Investment Group Partners LLC grew its stake in Kenvue Inc. (NYSE:KVUE) by 27.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,804 shares of the company’s stock after acquiring an additional 13,304 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Kenvue were worth $1,430,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in KVUE. FMR LLC lifted its holdings in Kenvue by 2.3% in the 3rd quarter. FMR LLC now owns 137,915,493 shares of the company’s stock valued at $3,189,985,000 after purchasing an additional 3,075,019 shares in the last quarter. State Street Corp boosted its position in Kenvue by 16.8% during the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after acquiring an additional 18,283,473 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Kenvue by 8.9% in 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 period. Bank of New York Mellon Corp raised its holdings in Kenvue by 21.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after acquiring an additional 7,546,362 shares during the last quarter. Finally, Harris Associates L P lifted its stake in shares of Kenvue by 7.5% during the 3rd quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock worth $727,658,000 after purchasing an additional 2,186,114 shares during the period. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KVUE. JPMorgan Chase & Co. upped their target price on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Piper Sandler increased their price objective on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Jefferies Financial Group initiated coverage on shares of Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 target price for the company. Royal Bank of Canada downgraded 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. Finally, Bank of America boosted their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Kenvue has a consensus rating of “Hold” and a consensus price target of $22.64.

Kenvue Trading Down 0.3 %

NYSE KVUE opened at $22.74 on Wednesday. The company has a market capitalization of $43.60 billion, a price-to-earnings ratio of 41.35, a price-to-earnings-growth ratio of 2.07 and a beta of 1.37. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $24.46. The company’s fifty day moving average price is $22.96 and its two-hundred day moving average price is $21.15.

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

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend was Wednesday, November 13th. Kenvue’s dividend payout ratio is currently 149.09%.

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.