Flputnam Investment Management Co. Has $1.34 Million Holdings in Kenvue Inc. (NYSE:KVUE)

Flputnam Investment Management Co. boosted its stake in Kenvue Inc. (NYSE:KVUE) by 9.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,622 shares of the company’s stock after purchasing an additional 5,213 shares during the quarter. Flputnam Investment Management Co.’s holdings in Kenvue were worth $1,337,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. International Assets Investment Management LLC raised its stake in Kenvue by 1,529.5% during the third quarter. International Assets Investment Management LLC now owns 106,341 shares of the company’s stock worth $2,460,000 after acquiring an additional 99,815 shares in the last quarter. Pinnacle Associates Ltd. acquired a new position in Kenvue during the third quarter worth about $214,000. Financial Advocates Investment Management raised its stake in Kenvue by 11.7% during the third quarter. Financial Advocates Investment Management now owns 12,361 shares of the company’s stock worth $286,000 after acquiring an additional 1,298 shares in the last quarter. US Bancorp DE raised its stake in Kenvue by 21.0% during the third quarter. US Bancorp DE now owns 165,454 shares of the company’s stock worth $3,827,000 after acquiring an additional 28,706 shares in the last quarter. Finally, Stephens Inc. AR raised its stake in Kenvue by 12.2% during the third quarter. Stephens Inc. AR now owns 187,949 shares of the company’s stock worth $4,347,000 after acquiring an additional 20,506 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Canaccord Genuity Group lowered their target price on Kenvue from $27.00 to $24.00 and set a “buy” rating for the company in a research note on Friday, February 7th. Barclays lowered their price objective on Kenvue from $23.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Piper Sandler upped their price objective on Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. UBS Group lowered their price objective on Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price objective on shares of Kenvue in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $23.33.

Kenvue Stock Performance

Shares of KVUE stock opened at $23.58 on Monday. The business’s 50 day simple moving average is $21.46 and its 200 day simple moving average is $22.27. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.46. The stock has a market capitalization of $45.07 billion, a PE ratio of 44.49, a PEG ratio of 2.62 and a beta of 1.45. 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 (NYSE:KVUE) last announced its earnings results on Thursday, February 6th. The company reported $0.26 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%. As a group, research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date was Wednesday, February 12th. Kenvue’s payout ratio is 154.72%.

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.