Kenvue Inc. (NYSE:KVUE) Position Boosted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,781,930 shares of the company's stock after purchasing an additional 14,310 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Kenvue worth $114,671,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. SRS Capital Advisors Inc. boosted its position in shares of Kenvue by 67.4% in 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. Continuum Advisory LLC lifted its stake in Kenvue by 2,071.1% during the first quarter. Continuum Advisory LLC now owns 1,954 shares of the company's stock valued at $47,000 after buying an additional 1,864 shares in the last quarter. Clarity Asset Management Inc. purchased a new stake in Kenvue during the fourth quarter valued at about $45,000. SBI Securities Co. Ltd. acquired a new position in shares of Kenvue in the fourth quarter worth about $46,000. Finally, Golden State Wealth Management LLC increased its position 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 worth $74,000 after acquiring an additional 2,295 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Redburn Atlantic started coverage on shares of Kenvue in a research report on Thursday, April 10th. They set a "neutral" rating and a $23.50 price objective on the stock. UBS Group increased their price target on shares of Kenvue from $24.00 to $25.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Barclays upped their price objective on shares of Kenvue from $22.00 to $23.00 and gave the company an "equal weight" rating in a research note on Monday, May 12th. 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. Finally, Canaccord Genuity Group boosted their price target on shares of Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $25.33.

Kenvue Stock Down 1.1%

Kenvue stock opened at $20.89 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. Kenvue Inc. has a 1-year low of $13.76 and a 1-year high of $25.17. The firm's fifty day simple moving average is $22.80 and its 200-day simple moving average is $22.35. The company has a market capitalization of $40.07 billion, a P/E ratio of 37.97, a P/E/G ratio of 3.24 and a beta of 0.98.

Kenvue (NYSE:KVUE - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.01. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. Kenvue had a return on equity of 20.87% and a net margin of 6.90%. The business's revenue was down 3.9% compared to the same quarter last year. During the same period last year, the company earned $0.28 earnings per share. Sell-side 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 was paid on Wednesday, May 28th. Investors 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 annualized dividend and a yield of 3.93%. Kenvue's dividend payout ratio (DPR) is currently 149.09%.

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.

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