Tredje AP fonden Grows Holdings in Kenvue Inc. (NYSE:KVUE)

Key Points

• Tredje AP fonden increased its ownership in Kenvue Inc. (NYSE:KVUE) by 120.9% in the first quarter, bringing its total to 584,703 shares valued at approximately $14.02 million.
• Numerous analysts have downgraded Kenvue's stock price targets recently, with UBS Group lowering its target from $25.00 to $23.00 and maintaining a "neutral" rating.
• Kenvue reported earnings of $0.24 per share for the most recent quarter, surpassing expectations, despite a 3.9% year-over-year decline in revenue.

Tredje AP fonden increased its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 120.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 584,703 shares of the company's stock after buying an additional 320,000 shares during the period. Tredje AP fonden's holdings in Kenvue were worth $14,021,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of KVUE. Price T Rowe Associates Inc. MD grew its holdings in shares of Kenvue by 3.5% during the fourth 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 buying an additional 8,211,748 shares during 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 valued at $2,085,070,000 after buying an additional 10,682,003 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Kenvue by 3.1% during 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 last quarter. Starboard Value LP acquired a new position in shares of Kenvue during the fourth quarter valued at about $467,864,000. Finally, Northern Trust Corp grew its holdings in shares of Kenvue by 15.4% during the fourth quarter. Northern Trust Corp now owns 20,948,704 shares of the company's stock valued at $447,255,000 after buying an additional 2,796,306 shares during the last quarter. Institutional investors own 97.64% of the company's stock.

Kenvue Stock Performance

Shares of NYSE KVUE traded up $0.16 during midday trading on Friday, hitting $21.60. The company's stock had a trading volume of 13,846,355 shares, compared to its average volume of 18,076,148. The stock has a fifty day moving average price of $21.87 and a 200 day moving average price of $22.37. Kenvue Inc. has a one year low of $18.10 and a one year high of $25.17. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $41.44 billion, a price-to-earnings ratio of 39.27, a P/E/G ratio of 3.59 and a beta of 0.83.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly 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 net margin of 6.90% and a return on equity of 20.87%. The company had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the firm posted $0.28 earnings per share. The company's quarterly revenue was down 3.9% compared to the same quarter last year. On average, research analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Wednesday, August 13th will be issued a dividend of $0.2075 per share. This is a boost from Kenvue's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, August 13th. This represents a $0.83 dividend on an annualized basis and a yield of 3.8%. Kenvue's payout ratio is currently 149.09%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on KVUE shares. JPMorgan Chase & Co. cut their price target on shares of Kenvue from $27.00 to $26.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Citigroup cut their price target on shares of Kenvue from $24.50 to $22.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Bank of America cut their price target on shares of Kenvue from $27.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, July 15th. Redburn Atlantic started coverage on shares of Kenvue in a report on Thursday, April 10th. They set a "neutral" rating and a $23.50 price target on the stock. Finally, Barclays cut their price target on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Kenvue presently has a consensus rating of "Hold" and an average target price of $24.79.

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.