Kenvue Inc. (NYSE:KVUE) Shares Bought by USS Investment Management Ltd

USS Investment Management Ltd raised its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 172.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 526,129 shares of the company's stock after acquiring an additional 332,929 shares during the quarter. USS Investment Management Ltd's holdings in Kenvue were worth $11,241,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of Kenvue during the fourth quarter valued at $521,348,000. Starboard Value LP bought a new stake in Kenvue during the 4th quarter valued at about $467,864,000. Franklin Resources Inc. boosted its position in Kenvue by 61.5% in the 4th quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company's stock valued at $912,059,000 after buying an additional 16,269,721 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Kenvue by 12.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company's stock worth $2,085,070,000 after acquiring an additional 10,682,003 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Kenvue by 3.5% during 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 acquiring an additional 8,211,748 shares during the period. Hedge funds and other institutional investors own 97.64% of the company's stock.

Analyst Upgrades and Downgrades

KVUE has been the subject of several research analyst reports. Canaccord Genuity Group lifted their price target on shares of Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a research note on Wednesday, March 5th. Redburn Atlantic initiated coverage on Kenvue in a research report on Thursday, April 10th. They set a "neutral" rating and a $23.50 target price for the company. Royal Bank of Canada reiterated a "sector perform" rating and issued a $24.00 target price on shares of Kenvue in a report on Monday, February 3rd. Evercore ISI initiated coverage on Kenvue in a research report on Monday, March 24th. They set an "in-line" rating and a $25.00 price target on the stock. Finally, Citigroup lifted their price objective on Kenvue from $22.00 to $24.50 and gave the company a "neutral" rating in a report on Friday, May 9th. Seven research 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 stock currently has an average rating of "Hold" and a consensus price target of $25.33.

Kenvue Stock Up 1.1%

KVUE stock traded up $0.26 during trading on Monday, reaching $23.76. 10,164,041 shares of the company traded hands, compared to its average volume of 16,369,512. The business has a 50 day simple moving average of $23.23 and a 200 day simple moving average of $22.62. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $25.17. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The company has a market capitalization of $45.59 billion, a price-to-earnings ratio of 44.83, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $3.69 billion. During the same period last year, the business earned $0.28 EPS. The company's revenue was down 3.9% compared to the same quarter last year. On average, equities research analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.82 annualized dividend and a yield of 3.45%. Kenvue's dividend payout ratio (DPR) is 149.09%.

Kenvue 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.