Federated Hermes Inc. Acquires 3,022,026 Shares of Kenvue Inc. (NYSE:KVUE)

Federated Hermes Inc. increased its position in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 504.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,620,621 shares of the company's stock after acquiring an additional 3,022,026 shares during the quarter. Federated Hermes Inc. owned about 0.19% of Kenvue worth $77,952,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of KVUE. Clearstead Advisors LLC acquired a new stake in Kenvue during the 3rd quarter worth approximately $25,000. Planned Solutions Inc. acquired a new stake in Kenvue during the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC acquired a new stake in Kenvue during the 3rd quarter worth approximately $28,000. AdvisorNet Financial Inc acquired a new stake in Kenvue during the 3rd quarter worth approximately $28,000. Finally, Global Retirement Partners LLC acquired a new stake in Kenvue during the 3rd quarter worth approximately $28,000. Institutional investors own 97.64% of the company's stock.

Kenvue Price Performance

Shares of NYSE:KVUE remained flat at $19.58 during midday trading on Friday. 9,504,809 shares of the company traded hands, compared to its average volume of 16,610,629. Kenvue Inc. has a twelve month low of $17.82 and a twelve month high of $27.80. The company has a current ratio of 1.12, a quick ratio of 0.78 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average of $19.83 and a 200-day moving average of $20.16.

Kenvue (NYSE:KVUE - Get Free Report) last released its earnings results on Thursday, February 8th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.03. Kenvue had a net margin of 9.87% and a return on equity of 15.62%. The business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.78 billion. Kenvue's quarterly revenue was down 2.7% compared to the same quarter last year. On average, research analysts expect that Kenvue Inc. will post 1.15 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Wednesday, February 14th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $0.80 annualized dividend and a dividend yield of 4.09%.

Analysts Set New Price Targets

Several analysts have commented on the stock. William Blair assumed coverage on shares of Kenvue in a report on Wednesday, April 3rd. They set a "market perform" rating on the stock. The Goldman Sachs Group initiated coverage on shares of Kenvue in a report on Friday, March 1st. They set a "neutral" rating and a $20.00 target price on the stock. Royal Bank of Canada lowered their price objective on shares of Kenvue from $25.00 to $24.00 and set an "outperform" rating on the stock in a report on Friday, February 9th. Sanford C. Bernstein initiated coverage on shares of Kenvue in a report on Thursday, April 11th. They issued an "underperform" rating and a $18.00 price objective on the stock. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Kenvue from $25.00 to $24.00 and set an "overweight" rating on the stock in a report on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, Kenvue has an average rating of "Hold" and an average target price of $24.85.

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.