Kenvue Inc. (NYSE:KVUE) Shares Bought by Investment Management Corp of Ontario

Investment Management Corp of Ontario lifted its holdings in Kenvue Inc. (NYSE:KVUE - Free Report) by 33.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 85,220 shares of the company's stock after acquiring an additional 21,593 shares during the quarter. Investment Management Corp of Ontario's holdings in Kenvue were worth $1,819,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Grove Bank & Trust boosted its holdings in shares of Kenvue by 438.4% during the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company's stock valued at $25,000 after buying an additional 947 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Kenvue in the fourth quarter worth approximately $29,000. SRS Capital Advisors Inc. raised its stake in Kenvue by 67.4% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company's stock worth $30,000 after acquiring an additional 571 shares during the period. Asset Planning Inc bought a new stake in Kenvue during the 4th quarter worth approximately $42,000. Finally, Clarity Asset Management Inc. bought a new stake in shares of Kenvue during the fourth quarter valued at approximately $45,000. 97.64% of the stock is currently owned by institutional investors.

Kenvue Stock Up 2.8%

Kenvue stock traded up $0.66 during trading hours on Thursday, reaching $23.86. The stock had a trading volume of 17,528,416 shares, compared to its average volume of 17,077,807. The company has a market cap of $45.78 billion, a price-to-earnings ratio of 45.02, a PEG ratio of 2.62 and a beta of 1.02. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. The business's 50 day moving average price is $23.15 and its 200-day moving average price is $22.58. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $25.17.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings data 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 6.66% and a return on equity of 20.97%. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the company posted $0.28 earnings per share. The company's revenue for the quarter was down 3.9% compared to the same quarter last year. Sell-side analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be issued a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.44%. Kenvue's dividend payout ratio (DPR) is currently 149.09%.

Wall Street Analyst Weigh In

KVUE has been the subject of several recent analyst reports. UBS Group lifted their price objective on shares of Kenvue from $24.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Canaccord Genuity Group lifted their price objective on shares of Kenvue from $24.00 to $29.00 and gave the stock a "buy" rating in a research note on Wednesday, March 5th. Redburn Atlantic initiated coverage on shares of Kenvue in a research note on Thursday, April 10th. They set a "neutral" rating and a $23.50 price objective for the company. Piper Sandler lifted their price objective on shares of Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. Finally, Barclays lifted their price objective on shares of Kenvue from $22.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Monday. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $25.33.

Kenvue Company 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.