Massachusetts Financial Services Co. MA Grows Stock Position in Kenvue Inc. (NYSE:KVUE)

Massachusetts Financial Services Co. MA lifted its stake in shares of Kenvue Inc. (NYSE:KVUE - Free Report) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,665,454 shares of the company's stock after acquiring an additional 5,574,265 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 3.48% of Kenvue worth $1,435,307,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. purchased a new stake in Kenvue in the third quarter worth $2,944,816,000. FMR LLC boosted its stake in Kenvue by 572.1% in the 3rd quarter. FMR LLC now owns 89,182,980 shares of the company's stock worth $1,790,794,000 after purchasing an additional 75,913,107 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Kenvue by 576.1% in the third quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company's stock worth $1,439,472,000 after buying an additional 61,084,123 shares during the last quarter. Morgan Stanley lifted its stake in shares of Kenvue by 4,057.4% during the third quarter. Morgan Stanley now owns 31,162,614 shares of the company's stock worth $625,745,000 after buying an additional 30,413,040 shares during the period. Finally, Boston Partners grew its holdings in shares of Kenvue by 34.0% during the fourth quarter. Boston Partners now owns 18,915,273 shares of the company's stock valued at $406,618,000 after buying an additional 4,798,762 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KVUE has been the subject of a number of research reports. Royal Bank of Canada cut their target price on shares of Kenvue from $25.00 to $24.00 and set an "outperform" rating for the company in a research note on Friday, February 9th. Sanford C. Bernstein started coverage on Kenvue in a report on Thursday, April 11th. They set an "underperform" rating and a $18.00 target price for the company. 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 research note on Friday, February 9th. HSBC raised their target price on shares of Kenvue from $20.00 to $21.00 and gave the stock a "hold" rating in a research note on Wednesday. Finally, William Blair started coverage on Kenvue in a research report on Wednesday, April 3rd. They issued a "market perform" rating for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Kenvue currently has an average rating of "Hold" and a consensus price target of $24.38.

Kenvue Stock Performance

Shares of KVUE remained flat at $20.54 during trading hours on Friday. 15,019,483 shares of the stock were exchanged, compared to its average volume of 17,524,332. Kenvue Inc. has a 1-year low of $17.82 and a 1-year high of $27.80. The stock has a market capitalization of $39.33 billion and a P/E ratio of 26.33. The firm has a 50-day moving average of $19.94 and a 200 day moving average of $20.13. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.03. Kenvue had a return on equity of 20.85% and a net margin of 9.63%. The firm had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $3.79 billion. The company's quarterly revenue was down 24.9% on a year-over-year basis. Sell-side analysts forecast that Kenvue Inc. will post 1.15 earnings per share for the current year.

Kenvue Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Wednesday, May 8th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, May 7th. This represents a $0.80 annualized dividend and a yield of 3.89%. Kenvue's payout ratio is 102.56%.

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.

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