Rhumbline Advisers Increases Holdings in Kenvue Inc. (NYSE:KVUE)

Rhumbline Advisers boosted its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 6.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,553,166 shares of the company's stock after acquiring an additional 215,188 shares during the period. Rhumbline Advisers owned 0.19% of Kenvue worth $85,205,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Kenvue by 3.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 245,885,918 shares of the company's stock worth $5,249,665,000 after buying an additional 8,211,748 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Kenvue by 0.8% during 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 in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Kenvue by 12.3% during 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 during the last quarter. Geode Capital Management LLC increased its stake 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 valued at $980,989,000 after buying an additional 1,391,854 shares during the period. Finally, Franklin Resources Inc. raised its holdings 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 last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

KVUE has been the topic of several analyst reports. Citigroup boosted their price objective on shares of Kenvue from $22.00 to $24.50 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Canaccord Genuity Group raised their price target on shares of Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a report on Wednesday, March 5th. Piper Sandler raised their price objective on Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a research note on Monday, February 24th. Redburn Atlantic began coverage on shares of Kenvue in a research report on Thursday, April 10th. They set a "neutral" rating and a $23.50 target price on the stock. Finally, Barclays upped their target price on Kenvue from $22.00 to $23.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $25.33.

Kenvue Stock Performance

Kenvue stock traded down $0.03 during trading on Thursday, hitting $21.65. The stock had a trading volume of 16,839,082 shares, compared to its average volume of 16,451,597. The stock's 50 day moving average is $23.21 and its two-hundred day moving average is $22.62. Kenvue Inc. has a 1 year low of $17.67 and a 1 year high of $25.17. The stock has a market cap of $41.53 billion, a price-to-earnings ratio of 40.84, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66.

Kenvue (NYSE:KVUE - Get Free Report) last issued its quarterly earnings data 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. The business had revenue of $3.74 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 EPS. As a group, analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th were given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.79%. The ex-dividend date was Wednesday, May 14th. Kenvue's payout ratio 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.