Lazard Asset Management LLC Boosts Stock Position in Kenvue Inc. (NYSE:KVUE)

Lazard Asset Management LLC boosted its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 148.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,218,225 shares of the company's stock after acquiring an additional 1,326,321 shares during the period. Lazard Asset Management LLC owned 0.12% of Kenvue worth $47,357,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in KVUE. Handelsbanken Fonder AB boosted its holdings in shares of Kenvue by 2.9% in the 4th quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company's stock valued at $15,846,000 after purchasing an additional 21,222 shares in the last quarter. Alberta Investment Management Corp boosted its holdings in shares of Kenvue by 23.2% during the 4th quarter. Alberta Investment Management Corp now owns 582,895 shares of the company's stock valued at $12,445,000 after acquiring an additional 109,700 shares in the last quarter. Longbow Finance SA boosted its holdings in shares of Kenvue by 5.0% during the 4th quarter. Longbow Finance SA now owns 280,568 shares of the company's stock valued at $5,990,000 after acquiring an additional 13,287 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Kenvue by 143.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 47,938 shares of the company's stock valued at $1,023,000 after acquiring an additional 28,216 shares in the last quarter. Finally, CORDA Investment Management LLC. boosted its holdings in shares of Kenvue by 1.4% during the 4th quarter. CORDA Investment Management LLC. now owns 1,253,096 shares of the company's stock valued at $26,754,000 after acquiring an additional 17,466 shares in the last quarter. Institutional investors own 97.64% of the company's stock.

Kenvue Trading Up 1.1%

Shares of KVUE stock traded up $0.27 during mid-day trading on Friday, hitting $24.15. The company's stock had a trading volume of 19,921,749 shares, compared to its average volume of 16,552,309. The company's fifty day simple moving average is $23.15 and its 200-day simple moving average is $22.58. Kenvue Inc. has a 52 week low of $17.67 and a 52 week high of $25.17. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The company has a market cap of $46.34 billion, a PE ratio of 45.57, a P/E/G ratio of 2.62 and a beta of 1.02.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the company posted $0.28 EPS. The business's quarterly revenue was down 3.9% on a year-over-year basis. As a group, equities research analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 28th. Investors of record on Wednesday, May 14th will be given a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date is Wednesday, May 14th. Kenvue's payout ratio is 149.09%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on KVUE shares. Piper Sandler raised their price objective on Kenvue from $24.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, February 24th. Barclays raised their price objective on Kenvue from $22.00 to $23.00 and gave the company an "equal weight" rating in a report on Monday. Canaccord Genuity Group raised their price objective on Kenvue from $24.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, March 5th. UBS Group raised their price objective on Kenvue from $24.00 to $25.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, Evercore ISI assumed coverage on Kenvue in a report on Monday, March 24th. They set an "in-line" rating and a $25.00 target price on the stock. 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, Kenvue presently has an average rating of "Hold" and a consensus price target 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.