Ameriprise Financial Inc. Acquires 408,127 Shares of Kenvue Inc. (NYSE:KVUE)

Ameriprise Financial Inc. raised its holdings in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 8.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,010,382 shares of the company's stock after purchasing an additional 408,127 shares during the quarter. Ameriprise Financial Inc. owned 0.26% of Kenvue worth $106,972,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kiley Juergens Wealth Management LLC increased its holdings in Kenvue by 1.9% during the 4th quarter. Kiley Juergens Wealth Management LLC now owns 27,110 shares of the company's stock worth $579,000 after purchasing an additional 500 shares during the period. Principle Wealth Partners LLC increased its stake in shares of Kenvue by 3.7% during the fourth quarter. Principle Wealth Partners LLC now owns 14,194 shares of the company's stock valued at $303,000 after buying an additional 500 shares during the period. White Pine Capital LLC raised its holdings in shares of Kenvue by 1.0% in the fourth quarter. White Pine Capital LLC now owns 54,572 shares of the company's stock valued at $1,165,000 after acquiring an additional 542 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its stake in Kenvue by 29.0% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 2,528 shares of the company's stock worth $54,000 after acquiring an additional 568 shares during the period. Finally, SRS Capital Advisors Inc. increased its position in Kenvue by 67.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock valued at $30,000 after purchasing an additional 571 shares during the period. Institutional investors own 97.64% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on KVUE shares. UBS Group decreased their price target on shares of Kenvue from $23.00 to $21.00 and set a "neutral" rating for the company in a research report on Friday, February 7th. Redburn Atlantic began coverage on shares of Kenvue in a research report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price objective for the company. Royal Bank of Canada restated a "sector perform" rating and set a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. Canaccord Genuity Group upped their target price on Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Finally, Piper Sandler boosted their price target on Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Eight research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $24.42.

Kenvue Stock Performance

KVUE opened at $23.03 on Thursday. The firm's fifty day simple moving average is $23.10 and its two-hundred day simple moving average is $22.54. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $24.46. The company has a market cap of $44.19 billion, a price-to-earnings ratio of 43.45, a PEG ratio of 2.62 and a beta of 1.02. 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 (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, hitting analysts' consensus estimates of $0.26. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. Equities analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The business also recently declared 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 of this dividend is Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.56%. Kenvue's dividend payout ratio (DPR) is presently 154.72%.

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.

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