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Envestnet Asset Management Inc. Has $250.28 Million Stake in Kenvue Inc. (NYSE:KVUE)

Kenvue logo with Consumer Staples background

Envestnet Asset Management Inc. increased its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,436,854 shares of the company's stock after buying an additional 212,798 shares during the period. Envestnet Asset Management Inc. owned 0.54% of Kenvue worth $250,276,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in KVUE. Continuum Advisory LLC increased its holdings in shares of Kenvue by 2,071.1% in the first quarter. Continuum Advisory LLC now owns 1,954 shares of the company's stock valued at $47,000 after purchasing an additional 1,864 shares during the last quarter. Clarity Asset Management Inc. acquired a new position in shares of Kenvue in the fourth quarter valued at $45,000. SBI Securities Co. Ltd. acquired a new position in shares of Kenvue in the fourth quarter valued at $46,000. Rossby Financial LCC acquired a new position in shares of Kenvue in the first quarter valued at $52,000. Finally, Golden State Wealth Management LLC increased its holdings in shares of Kenvue by 292.0% in the first quarter. Golden State Wealth Management LLC now owns 3,081 shares of the company's stock valued at $74,000 after purchasing an additional 2,295 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on KVUE shares. Citigroup reiterated a "neutral" rating on shares of Kenvue in a report on Friday, June 13th. Redburn Atlantic started coverage on shares of Kenvue in a report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 price objective on the stock. Evercore ISI started coverage on shares of Kenvue in a research report on Monday, March 24th. They issued an "in-line" rating and a $25.00 target price for the company. UBS Group boosted their target price on shares of Kenvue from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Finally, Barclays boosted their target price on shares of Kenvue from $22.00 to $23.00 and gave the company an "equal weight" rating in a research report on Monday, May 12th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $25.33.

View Our Latest Report on Kenvue

Kenvue Trading Down 0.9%

KVUE opened at $20.71 on Wednesday. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $25.17. The company has a 50-day simple moving average of $22.57 and a 200 day simple moving average of $22.32. The company has a quick ratio of 0.60, a current ratio of 0.86 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $39.74 billion, a price-to-earnings ratio of 37.66, a P/E/G ratio of 3.25 and a beta of 0.83.

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

Kenvue Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th were issued a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.96%. 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.

Further Reading

Want to see what other hedge funds are holding KVUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kenvue Inc. (NYSE:KVUE - Free Report).

Institutional Ownership by Quarter for Kenvue (NYSE:KVUE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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