Burgundy Asset Management Ltd. reduced its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,022,414 shares of the company's stock after selling 598,451 shares during the quarter. Burgundy Asset Management Ltd. owned approximately 0.31% of Kenvue worth $128,579,000 as of its most recent filing with the SEC.
A number of other large investors also recently modified their holdings of the business. Merit Financial Group LLC bought a new stake in Kenvue in the 4th quarter valued at about $237,000. HB Wealth Management LLC lifted its position in Kenvue by 41.9% in the 4th quarter. HB Wealth Management LLC now owns 18,088 shares of the company's stock valued at $386,000 after purchasing an additional 5,343 shares during the last quarter. UMB Bank n.a. lifted its position in Kenvue by 184.3% in the 4th quarter. UMB Bank n.a. now owns 3,651 shares of the company's stock valued at $78,000 after purchasing an additional 2,367 shares during the last quarter. LaFleur & Godfrey LLC lifted its position in Kenvue by 29.8% in the 4th quarter. LaFleur & Godfrey LLC now owns 81,300 shares of the company's stock valued at $1,736,000 after purchasing an additional 18,650 shares during the last quarter. Finally, Atomi Financial Group Inc. lifted its position in Kenvue by 28.1% in the 4th quarter. Atomi Financial Group Inc. now owns 11,730 shares of the company's stock valued at $250,000 after purchasing an additional 2,571 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have commented on the stock. UBS Group raised their target price on shares of Kenvue from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Piper Sandler raised their target price on shares of Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Royal Bank of Canada reissued a "sector perform" rating and set a $24.00 target price on shares of Kenvue in a research note on Monday, February 3rd. Evercore ISI assumed coverage on shares of Kenvue in a research note on Monday, March 24th. They set an "in-line" rating and a $25.00 target price on the stock. Finally, Citigroup raised their target price on shares of Kenvue from $22.00 to $24.50 and gave the company a "neutral" rating in a research note on Friday, May 9th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $25.33.
Read Our Latest Stock Report on Kenvue
Kenvue Stock Up 0.8%
NYSE KVUE traded up $0.20 during trading on Tuesday, reaching $23.93. The company's stock had a trading volume of 11,682,261 shares, compared to its average volume of 16,350,763. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $45.91 billion, a PE ratio of 45.15, a PEG ratio of 2.62 and a beta of 1.02. The business has a 50-day moving average price of $23.24 and a 200-day moving average price of $22.62. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $25.17.
Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The business had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.69 billion. During the same period in the previous year, the company earned $0.28 earnings per share. Kenvue's revenue for the quarter was down 3.9% on a year-over-year basis. On average, research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.
Kenvue Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be given a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date is Wednesday, May 14th. Kenvue's dividend payout ratio (DPR) is currently 149.09%.
About Kenvue
(
Free Report)
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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