Kenvue Inc. (NYSE:KVUE) Shares Acquired by JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. increased its stake in Kenvue Inc. by 11.6% during Q1, owning approximately 1.30% of the company, valued at $597.40 million.
• Kenvue Inc. declared a quarterly dividend of $0.2075, marking an increase from its previous quarterly dividend and representing a yield of 3.9%.
• Brokerage ratings for Kenvue show a consensus rating of "Hold" with a target price of $24.38, as several firms have recently cut their price targets.

JPMorgan Chase & Co. grew its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,912,226 shares of the company's stock after buying an additional 2,597,920 shares during the quarter. JPMorgan Chase & Co. owned 1.30% of Kenvue worth $597,395,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Advisory Services Network LLC boosted its stake in shares of Kenvue by 2.9% during the 4th quarter. Advisory Services Network LLC now owns 52,281 shares of the company's stock valued at $1,116,000 after purchasing an additional 1,469 shares in the last quarter. Sterling Capital Management LLC raised its holdings in Kenvue by 55.3% in the fourth quarter. Sterling Capital Management LLC now owns 114,247 shares of the company's stock worth $2,439,000 after buying an additional 40,694 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in Kenvue by 5.4% during the fourth quarter. Rockefeller Capital Management L.P. now owns 185,372 shares of the company's stock valued at $3,958,000 after purchasing an additional 9,514 shares during the period. Sagespring Wealth Partners LLC bought a new stake in Kenvue during the fourth quarter valued at approximately $303,000. Finally, Keystone Financial Group grew its position in Kenvue by 4.8% during the fourth quarter. Keystone Financial Group now owns 12,736 shares of the company's stock valued at $272,000 after buying an additional 578 shares during the period. Hedge funds and other institutional investors own 97.64% of the company's stock.

Wall Street Analysts Forecast Growth

KVUE has been the topic of several recent analyst reports. UBS Group decreased their target price on Kenvue from $25.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. JPMorgan Chase & Co. lowered their price objective on Kenvue from $27.00 to $26.00 and set an "overweight" rating for the company in a research note on Friday, July 25th. Royal Bank Of Canada reduced their price objective on shares of Kenvue from $24.00 to $22.00 and set a "sector perform" rating on the stock in a research report on Friday, August 8th. Canaccord Genuity Group reduced their price target on Kenvue from $29.00 to $26.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Finally, Bank of America cut their price target on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, Kenvue currently has an average rating of "Hold" and an average price target of $24.38.

Kenvue Price Performance

NYSE KVUE traded down $0.66 on Thursday, hitting $21.06. The company had a trading volume of 14,760,615 shares, compared to its average volume of 17,592,551. Kenvue Inc. has a 12-month low of $19.75 and a 12-month high of $25.17. The company has a market capitalization of $40.41 billion, a PE ratio of 28.45, a PEG ratio of 3.15 and a beta of 0.83. The company's fifty day moving average price is $21.56 and its 200-day moving average price is $22.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.98 and a quick ratio of 0.68.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. The firm had revenue of $3.84 billion during the quarter, compared to analyst estimates of $3.94 billion. Kenvue had a net margin of 9.37% and a return on equity of 20.06%. Kenvue's quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. As a group, analysts predict that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Wednesday, August 13th will be given a dividend of $0.2075 per share. This is a boost from Kenvue's previous quarterly dividend of $0.21. This represents a $0.83 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Wednesday, August 13th. Kenvue's dividend payout ratio is currently 110.81%.

Kenvue Company 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.