Zurich Insurance Group Ltd FI Takes $1.96 Million Position in Kenvue Inc. (NYSE:KVUE)

Zurich Insurance Group Ltd FI acquired a new stake in Kenvue Inc. (NYSE:KVUE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 91,600 shares of the company's stock, valued at approximately $1,956,000.

Other large investors also recently bought and sold shares of the company. Merit Financial Group LLC acquired a new position in shares of Kenvue during the 4th quarter worth about $237,000. HB Wealth Management LLC boosted its position in shares of Kenvue by 41.9% in the 4th quarter. HB Wealth Management LLC now owns 18,088 shares of the company's stock valued at $386,000 after purchasing an additional 5,343 shares during the period. Grove Bank & Trust lifted its position in Kenvue by 438.4% during the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company's stock worth $25,000 after acquiring an additional 947 shares during the period. UMB Bank n.a. lifted its position in Kenvue by 184.3% during the 4th quarter. UMB Bank n.a. now owns 3,651 shares of the company's stock worth $78,000 after acquiring an additional 2,367 shares during the period. Finally, LaFleur & Godfrey LLC lifted its position in Kenvue by 29.8% during the 4th quarter. LaFleur & Godfrey LLC now owns 81,300 shares of the company's stock worth $1,736,000 after acquiring an additional 18,650 shares during the period. Hedge funds and other institutional investors own 97.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on KVUE shares. Barclays raised their price target on Kenvue from $22.00 to $23.00 and gave the company an "equal weight" rating in a report on Monday, May 12th. Evercore ISI initiated coverage on Kenvue in a research note on Monday, March 24th. They issued an "in-line" rating and a $25.00 price objective for the company. Citigroup raised their price target on Kenvue from $22.00 to $24.50 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Canaccord Genuity Group lifted their price objective on Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a research report on Wednesday, March 5th. Finally, UBS Group lifted their price objective on Kenvue from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $25.33.

Kenvue Stock Up 1.1%

Shares of NYSE KVUE traded up $0.26 on Friday, hitting $23.76. The company had a trading volume of 10,164,041 shares, compared to its average volume of 16,401,489. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $25.17. The business has a 50 day moving average of $23.23 and a two-hundred day moving average of $22.62. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $45.59 billion, a P/E ratio of 44.83, a PEG ratio of 2.62 and a beta of 1.02.

Kenvue (NYSE:KVUE - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. The company's revenue was down 3.9% compared to the same quarter last year. As a group, equities research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be paid a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Wednesday, May 14th. Kenvue's dividend payout ratio (DPR) 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.