Canada Pension Plan Investment Board Sells 2,803,420 Shares of Kenvue Inc. (NYSE:KVUE)

Canada Pension Plan Investment Board lessened its stake in Kenvue Inc. (NYSE:KVUE) by 42.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,769,692 shares of the company’s stock after selling 2,803,420 shares during the period. Canada Pension Plan Investment Board owned approximately 0.20% of Kenvue worth $80,483,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. NewEdge Advisors LLC grew its position in Kenvue by 14.1% in the fourth quarter. NewEdge Advisors LLC now owns 37,489 shares of the company’s stock worth $800,000 after acquiring an additional 4,637 shares in the last quarter. Guggenheim Capital LLC lifted its stake in Kenvue by 13.3% during the fourth quarter. Guggenheim Capital LLC now owns 196,128 shares of the company’s stock worth $4,187,000 after purchasing an additional 22,986 shares during the last quarter. Canada Post Corp Registered Pension Plan purchased a new position in shares of Kenvue in the 4th quarter worth about $444,000. Mariner LLC boosted its holdings in shares of Kenvue by 50.7% in the 4th quarter. Mariner LLC now owns 259,420 shares of the company’s stock worth $5,538,000 after purchasing an additional 87,321 shares in the last quarter. Finally, SageView Advisory Group LLC bought a new position in shares of Kenvue during the 4th quarter valued at about $333,000. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 3.0 %

Shares of NYSE:KVUE opened at $23.42 on Friday. The stock’s 50-day moving average is $22.86 and its 200 day moving average is $22.40. The company has a market cap of $44.93 billion, a PE ratio of 44.19, a P/E/G ratio of 2.62 and a beta of 1.02. 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 1 year low of $17.67 and a 1 year high of $24.46.

Kenvue (NYSE:KVUE) last posted its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Sell-side analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be given a $0.205 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.50%. Kenvue’s dividend payout ratio is 154.72%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 target price on shares of Kenvue in a research note on Monday, February 3rd. Barclays lowered their price objective on shares of Kenvue from $23.00 to $22.00 and set an “equal weight” rating for the company in a report on Monday. Evercore ISI started coverage on shares of Kenvue in a report on Monday, March 24th. They set an “in-line” rating and a $25.00 target price on the stock. UBS Group lowered their price target on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Finally, Citigroup upped their price target on shares of Kenvue from $21.00 to $22.00 and gave the company a “neutral” rating in a research report on Monday. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Kenvue presently has an average rating of “Hold” and an average price target of $24.42.

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.