Nuveen Asset Management LLC Grows Stake in Kenvue Inc. (NYSE:KVUE)

Nuveen Asset Management LLC grew its position in Kenvue Inc. (NYSE:KVUE - Free Report) by 13.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,360,001 shares of the company's stock after buying an additional 1,198,432 shares during the period. Nuveen Asset Management LLC owned 0.54% of Kenvue worth $221,186,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Lazard Asset Management LLC increased its position in Kenvue by 148.7% during the 4th quarter. Lazard Asset Management LLC now owns 2,218,225 shares of the company's stock valued at $47,357,000 after buying an additional 1,326,321 shares in the last quarter. Investment Management Corp of Ontario increased its holdings in shares of Kenvue by 33.9% during the fourth quarter. Investment Management Corp of Ontario now owns 85,220 shares of the company's stock valued at $1,819,000 after acquiring an additional 21,593 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Kenvue by 20.2% during the fourth quarter. Janus Henderson Group PLC now owns 263,969 shares of the company's stock valued at $5,640,000 after acquiring an additional 44,393 shares in the last quarter. Focus Partners Wealth raised its position in shares of Kenvue by 18.1% in the 4th quarter. Focus Partners Wealth now owns 1,564,568 shares of the company's stock valued at $33,404,000 after purchasing an additional 239,712 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its stake in Kenvue by 9.3% in the 4th quarter. Ensign Peak Advisors Inc now owns 169,137 shares of the company's stock worth $3,611,000 after purchasing an additional 14,322 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company's stock.

Analyst Ratings Changes

KVUE has been the subject of a number of research analyst reports. Barclays raised their price target on shares of Kenvue from $22.00 to $23.00 and gave the stock an "equal weight" rating in a report on Monday, May 12th. Redburn Atlantic initiated coverage on Kenvue in a research note on Thursday, April 10th. They issued a "neutral" rating and a $23.50 target price for the company. Piper Sandler lifted their price target on Kenvue from $24.00 to $27.00 and gave the stock an "overweight" rating in a research report on Monday, February 24th. Citigroup increased their price objective on Kenvue from $22.00 to $24.50 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, Evercore ISI started 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. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $25.33.

Kenvue Stock Performance

Shares of KVUE traded down $0.19 during trading hours on Monday, hitting $23.99. The stock had a trading volume of 22,179,978 shares, compared to its average volume of 16,516,745. The firm has a 50-day moving average price of $23.16 and a 200 day moving average price of $22.59. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $25.17. The firm has a market capitalization of $46.03 billion, a price-to-earnings ratio of 45.26, 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 issued its quarterly earnings data on Thursday, May 8th. The company reported $0.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. Kenvue had a net margin of 6.66% and a return on equity of 20.97%. The business 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 firm posted $0.28 earnings per share. The company's revenue was down 3.9% compared to the same quarter last year. As a group, research analysts anticipate that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Wednesday, May 14th will be given a dividend of $0.205 per share. The ex-dividend date of this dividend is Wednesday, May 14th. This represents a $0.82 dividend on an annualized basis and a yield of 3.42%. Kenvue's dividend payout ratio is currently 149.09%.

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.