Adams Diversified Equity Fund Inc. Takes $18.05 Million Position in Kenvue Inc. (NYSE:KVUE)

Adams Diversified Equity Fund Inc. acquired a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 752,500 shares of the company's stock, valued at approximately $18,045,000.

Several other large investors also recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Kenvue in the fourth quarter worth about $521,348,000. Starboard Value LP acquired a new position in shares of Kenvue in the fourth quarter worth about $467,864,000. Franklin Resources Inc. boosted its holdings in shares of Kenvue by 61.5% in the fourth quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company's stock worth $912,059,000 after buying an additional 16,269,721 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Kenvue by 12.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company's stock worth $2,085,070,000 after buying an additional 10,682,003 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Kenvue by 3.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company's stock worth $5,249,665,000 after buying an additional 8,211,748 shares during the period. Institutional investors own 97.64% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have commented on KVUE. Canaccord Genuity Group raised their target price on shares of Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Barclays raised their target price on shares of Kenvue from $22.00 to $23.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Evercore ISI began coverage on shares of Kenvue in a report on Monday, March 24th. They issued an "in-line" rating and a $25.00 target price for the company. UBS Group raised their target price on shares of Kenvue from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Finally, Redburn Atlantic began coverage on shares of Kenvue in a report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 target price for the company. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $25.33.

Kenvue Price Performance

NYSE KVUE opened at $21.21 on Wednesday. The company has a 50 day simple moving average of $22.96 and a 200-day simple moving average of $22.39. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.86 and a quick ratio of 0.60. The firm has a market capitalization of $40.70 billion, a price-to-earnings ratio of 38.57, a price-to-earnings-growth ratio of 3.32 and a beta of 0.98. Kenvue Inc. has a 52-week low of $17.67 and a 52-week high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. Kenvue had a net margin of 6.90% and a return on equity of 20.87%. The firm's revenue was down 3.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 earnings per share. Equities research analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.87%. The ex-dividend date was Wednesday, May 14th. Kenvue's payout ratio is presently 149.09%.

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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