Channing Capital Management LLC Takes $6.20 Million Position in Kenvue Inc. (NYSE:KVUE)

Channing Capital Management LLC bought a new stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 287,793 shares of the company's stock, valued at approximately $6,196,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Clearstead Advisors LLC purchased a new stake in Kenvue in the third quarter worth $25,000. Planned Solutions Inc. purchased a new stake in shares of Kenvue in the fourth quarter worth $27,000. Venturi Wealth Management LLC purchased a new stake in shares of Kenvue in the third quarter worth $28,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Kenvue in the third quarter worth $28,000. Finally, Cullen Frost Bankers Inc. purchased a new stake in shares of Kenvue in the third quarter worth $29,000. Institutional investors own 97.64% of the company's stock.

Wall Street Analyst Weigh In

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

Kenvue Stock Down 0.6 %

Shares of NYSE:KVUE traded down $0.12 during trading on Monday, hitting $19.08. 25,893,174 shares of the company's stock were exchanged, compared to its average volume of 16,898,102. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.78 and a current ratio of 1.12. Kenvue Inc. has a 52-week low of $17.82 and a 52-week high of $27.80. The business's 50-day simple moving average is $19.82 and its 200 day simple moving average is $20.11.

Kenvue (NYSE:KVUE - Get Free Report) last released its quarterly 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. The business had revenue of $3.67 billion during the quarter, compared to analysts' expectations of $3.78 billion. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The company's quarterly revenue was down 2.7% compared to the same quarter last year. As a group, research analysts anticipate that Kenvue Inc. will post 1.15 EPS for the current year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders of record on Wednesday, May 8th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.19%. The ex-dividend date is Tuesday, May 7th.

About Kenvue

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.