Parsons Capital Management Inc. RI Has $652,000 Stock Position in Kenvue Inc. (NYSE:KVUE)

Parsons Capital Management Inc. RI reduced its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 48.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 27,173 shares of the company's stock after selling 25,795 shares during the period. Parsons Capital Management Inc. RI's holdings in Kenvue were worth $652,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of KVUE. Price T Rowe Associates Inc. MD lifted its stake in Kenvue by 3.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company's stock valued at $5,249,665,000 after acquiring an additional 8,211,748 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Kenvue by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 218,543,705 shares of the company's stock valued at $4,665,908,000 after purchasing an additional 1,636,741 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Kenvue by 12.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 97,661,344 shares of the company's stock worth $2,085,070,000 after purchasing an additional 10,682,003 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Kenvue by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 46,068,931 shares of the company's stock worth $980,989,000 after purchasing an additional 1,391,854 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Kenvue by 61.5% during the fourth quarter. Franklin Resources Inc. now owns 42,719,377 shares of the company's stock worth $912,059,000 after purchasing an additional 16,269,721 shares during the last quarter. Institutional investors own 97.64% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on KVUE shares. 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 issued a "neutral" rating and a $23.50 target price on the stock. Citigroup increased their price target on Kenvue from $22.00 to $24.50 and gave the company a "neutral" rating in a research report on Friday, May 9th. UBS Group raised their price target on Kenvue from $24.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Finally, Barclays upped their price objective on Kenvue from $22.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $25.33.

Kenvue Stock Performance

Kenvue stock traded up $0.20 during trading hours on Thursday, hitting $22.05. The company had a trading volume of 28,056,295 shares, compared to its average volume of 16,395,431. The firm has a 50-day moving average of $23.02 and a 200 day moving average of $22.54. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The firm has a market cap of $42.31 billion, a PE ratio of 41.60, a PEG ratio of 2.62 and a beta of 0.98. Kenvue Inc. has a one year low of $17.67 and a one year high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates 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 20.97% and a net margin of 6.66%. The firm's quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 earnings per share. On average, sell-side analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th were paid a $0.205 dividend. This represents a $0.82 annualized dividend and a yield of 3.72%. The ex-dividend date was Wednesday, May 14th. Kenvue's dividend payout ratio (DPR) is 149.09%.

About Kenvue

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.