Quantinno Capital Management LP Boosts Position in Kenvue Inc. (NYSE:KVUE)

Quantinno Capital Management LP increased its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 97.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 160,439 shares of the company's stock after buying an additional 79,125 shares during the period. Quantinno Capital Management LP's holdings in Kenvue were worth $3,425,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB increased its stake in Kenvue by 2.9% in the 4th quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company's stock worth $15,846,000 after buying an additional 21,222 shares during the period. Alberta Investment Management Corp increased its stake in Kenvue by 23.2% in the 4th quarter. Alberta Investment Management Corp now owns 582,895 shares of the company's stock worth $12,445,000 after buying an additional 109,700 shares during the period. Longbow Finance SA increased its stake in Kenvue by 5.0% in the 4th quarter. Longbow Finance SA now owns 280,568 shares of the company's stock worth $5,990,000 after buying an additional 13,287 shares during the period. Steward Partners Investment Advisory LLC increased its stake in Kenvue by 143.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 47,938 shares of the company's stock worth $1,023,000 after buying an additional 28,216 shares during the period. Finally, CORDA Investment Management LLC. increased its stake in Kenvue by 1.4% in the 4th quarter. CORDA Investment Management LLC. now owns 1,253,096 shares of the company's stock worth $26,754,000 after buying an additional 17,466 shares during the period. Hedge funds and other institutional investors own 97.64% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Evercore ISI started coverage on shares of Kenvue in a research note on Monday, March 24th. They issued an "in-line" rating and a $25.00 price target on the stock. Royal Bank of Canada reiterated a "sector perform" rating and set a $24.00 target price on shares of Kenvue in a report on Monday, February 3rd. Citigroup increased their target price on shares of Kenvue from $22.00 to $24.50 and gave the stock a "neutral" rating in a report on Friday, May 9th. Canaccord Genuity Group increased their target price on shares of Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Finally, UBS Group increased their target price on shares of Kenvue from $24.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $25.33.

Kenvue Stock Performance

Shares of KVUE opened at $23.99 on Tuesday. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $25.17. The stock has a fifty day moving average price of $23.18 and a 200-day moving average price of $22.60. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The firm has a market cap of $46.03 billion, a PE ratio of 45.26, a P/E/G ratio of 2.62 and a beta of 1.02.

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

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.42%. The ex-dividend date is Wednesday, May 14th. Kenvue's dividend payout ratio is currently 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.

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