Lansforsakringar Fondforvaltning AB publ Takes Position in Kenvue Inc. (NYSE:KVUE)

Lansforsakringar Fondforvaltning AB publ acquired a new position in Kenvue Inc. (NYSE:KVUE - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 613,639 shares of the company's stock, valued at approximately $13,101,000.

Other hedge funds also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new position in Kenvue in the 4th quarter worth approximately $29,000. SRS Capital Advisors Inc. raised its holdings in Kenvue by 67.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock worth $30,000 after acquiring an additional 571 shares during the last quarter. Asset Planning Inc purchased a new position in Kenvue in the 4th quarter worth approximately $42,000. Clarity Asset Management Inc. bought a new stake in Kenvue in the 4th quarter worth approximately $45,000. Finally, SBI Securities Co. Ltd. purchased a new stake in Kenvue during the 4th quarter valued at $46,000. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Stock Performance

Shares of KVUE stock traded up $0.28 during mid-day trading on Friday, reaching $23.86. 30,016,864 shares of the company's stock traded hands, compared to its average volume of 16,346,058. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $25.17. The firm has a 50 day moving average price of $23.27 and a two-hundred day moving average price of $22.63. 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 firm has a market capitalization of $45.78 billion, a PE ratio of 45.02, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the prior year, the business posted $0.28 EPS. Kenvue's revenue for the quarter was down 3.9% compared to the same quarter last year. On average, research analysts forecast that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were paid 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 yield of 3.44%. Kenvue's payout ratio is presently 149.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Citigroup boosted 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. Canaccord Genuity Group boosted their target price 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 assumed coverage on shares of Kenvue in a research note on Thursday, April 10th. They set a "neutral" rating and a $23.50 target price for the company. 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 for the company. Finally, Piper Sandler boosted 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. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Kenvue currently has a consensus rating of "Hold" and an average price target of $25.33.

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.