Legal & General Group Plc Has $247.09 Million Stock Holdings in Kenvue Inc. $KVUE

Key Points

• Legal & General Group Plc trimmed its Kenvue stake by 3.1% in the fourth quarter, but still held 14.3 million shares valued at about $247.1 million.
• Kenvue’s latest quarterly results beat expectations, posting EPS of $0.32 versus the $0.27 estimate and revenue of $3.91 billion, up 4.5% year over year.
• The stock appears to have a Hold consensus among analysts, with an average price target of $19.33; Kenvue also declared a quarterly dividend of $0.2075 per share, yielding about 4.7%.

Legal & General Group Plc lessened its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 14,324,238 shares of the company's stock after selling 461,687 shares during the quarter. Legal & General Group Plc owned about 0.75% of Kenvue worth $247,093,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Kenvue by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 234,951,484 shares of the company's stock worth $4,052,913,000 after buying an additional 1,604,040 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Kenvue by 22.4% during the 3rd quarter. American Century Companies Inc. now owns 37,046,660 shares of the company's stock worth $601,267,000 after buying an additional 6,781,640 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Kenvue by 13.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 23,127,234 shares of the company's stock worth $375,377,000 after buying an additional 2,747,952 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of Kenvue by 101.3% during the 3rd quarter. Van ECK Associates Corp now owns 18,361,581 shares of the company's stock worth $298,008,000 after buying an additional 9,240,434 shares during the last quarter. Finally, Amundi lifted its stake in shares of Kenvue by 21.6% during the 3rd quarter. Amundi now owns 17,645,761 shares of the company's stock worth $277,012,000 after buying an additional 3,135,871 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on KVUE shares. Citigroup cut their target price on shares of Kenvue from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, April 15th. Zacks Research upgraded shares of Kenvue from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 8th. Barclays dropped their price objective on shares of Kenvue from $19.00 to $18.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 14th. Weiss Ratings upgraded shares of Kenvue from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, May 8th. Finally, UBS Group dropped their price objective on shares of Kenvue from $19.00 to $18.00 and set a "neutral" rating for the company in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $19.33.

Kenvue Stock Performance

Shares of Kenvue stock opened at $17.53 on Wednesday. The firm has a market capitalization of $33.66 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 1.33 and a beta of 0.55. The company has a current ratio of 0.98, a quick ratio of 0.70 and a debt-to-equity ratio of 0.67. The firm's 50 day moving average is $17.41 and its 200 day moving average is $17.45. Kenvue Inc. has a 1 year low of $14.02 and a 1 year high of $24.00.

Kenvue (NYSE:KVUE - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.05. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.84 billion. Kenvue had a net margin of 10.61% and a return on equity of 20.81%. The firm's revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 EPS. Equities research analysts forecast that Kenvue Inc. will post 1.16 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Wednesday, May 13th will be issued a dividend of $0.2075 per share. The ex-dividend date of this dividend is Wednesday, May 13th. This represents a $0.83 annualized dividend and a dividend yield of 4.7%. Kenvue's payout ratio is 97.65%.

Insider Activity

In related news, General Counsel Matthew Orlando sold 38,491 shares of Kenvue stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $17.66, for a total transaction of $679,751.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.59% of the company's stock.

Kenvue Company Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.

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