Kenvue Inc. (NYSE:KVUE) Holdings Boosted by Royal Bank of Canada

Royal Bank of Canada raised its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 12.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 6,356,905 shares of the company's stock after buying an additional 719,224 shares during the quarter. Royal Bank of Canada owned approximately 0.33% of Kenvue worth $135,721,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of KVUE. Rafferty Asset Management LLC boosted its position in shares of Kenvue by 12.6% during the fourth quarter. Rafferty Asset Management LLC now owns 166,423 shares of the company's stock worth $3,553,000 after buying an additional 18,598 shares during the period. Quantinno Capital Management LP raised its stake in Kenvue by 97.3% during the 4th quarter. Quantinno Capital Management LP now owns 160,439 shares of the company's stock valued at $3,425,000 after acquiring an additional 79,125 shares in the last quarter. Mufg Securities Americas Inc. bought a new stake in Kenvue during the 4th quarter valued at $604,000. Malaga Cove Capital LLC bought a new position in shares of Kenvue in the fourth quarter worth $256,000. Finally, Man Group plc bought a new position in Kenvue in the 4th quarter valued at about $941,000. Institutional investors and hedge funds own 97.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Canaccord Genuity Group boosted their price target on shares of Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a research report on Wednesday, March 5th. Piper Sandler raised their price objective 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. Barclays upped their target price on Kenvue from $22.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Monday, May 12th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $24.00 price target on shares of Kenvue in a research note on Monday, February 3rd. Finally, Evercore ISI began coverage on Kenvue in a research note on Monday, March 24th. They issued an "in-line" rating and a $25.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $25.33.

Kenvue Price Performance

Shares of NYSE KVUE traded down $0.52 during trading on Thursday, hitting $23.49. The company had a trading volume of 13,277,432 shares, compared to its average volume of 16,420,319. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $25.17. The business's 50-day moving average is $23.22 and its 200 day moving average is $22.62. The company has a market cap of $45.06 billion, a P/E ratio of 44.31, a PEG ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00.

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, 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 company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the previous year, the firm earned $0.28 earnings per share. Kenvue's revenue for the quarter 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Wednesday, May 14th. Kenvue's dividend payout ratio is presently 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.