The Manufacturers Life Insurance Company Acquires 96,540 Shares of Kenvue Inc. (NYSE:KVUE)

The Manufacturers Life Insurance Company boosted its stake in Kenvue Inc. (NYSE:KVUE - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,235,116 shares of the company's stock after purchasing an additional 96,540 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.12% of Kenvue worth $47,720,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Bard Financial Services Inc. grew its position in Kenvue by 5.7% during the 3rd quarter. Bard Financial Services Inc. now owns 106,790 shares of the company's stock worth $2,470,000 after acquiring an additional 5,750 shares during the last quarter. Boyar Asset Management Inc. increased its holdings in Kenvue by 7.2% in the third quarter. Boyar Asset Management Inc. now owns 29,171 shares of the company's stock worth $675,000 after purchasing an additional 1,948 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Kenvue during the 3rd quarter valued at $1,057,000. Tidal Investments LLC increased its position in Kenvue by 9.9% in the 3rd quarter. Tidal Investments LLC now owns 131,128 shares of the company's stock valued at $3,033,000 after buying an additional 11,849 shares in the last quarter. Finally, Oddo BHF Asset Management Sas bought a new position in Kenvue in the third quarter worth approximately $1,570,000. Institutional investors and hedge funds own 97.64% of the company's stock.

Kenvue Price Performance

KVUE traded down $0.33 during trading on Monday, reaching $23.65. 10,821,666 shares of the company were exchanged, compared to its average volume of 17,019,748. The company's 50-day moving average is $23.09 and its two-hundred day moving average is $22.52. The company has a market cap of $45.38 billion, a price-to-earnings ratio of 44.55, a P/E/G ratio of 2.62 and a beta of 1.02. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46.

Kenvue (NYSE:KVUE - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Wednesday, May 14th will be issued a $0.205 dividend. The ex-dividend date is Wednesday, May 14th. This represents a $0.82 annualized dividend and a dividend yield of 3.47%. Kenvue's dividend payout ratio is currently 154.72%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on KVUE shares. Evercore ISI assumed coverage on shares of Kenvue in a report on Monday, March 24th. They set an "in-line" rating and a $25.00 price objective for the company. Citigroup lifted their target price on Kenvue from $21.00 to $22.00 and gave the company a "neutral" rating in a research report on Monday, April 14th. UBS Group lowered their price target on Kenvue from $23.00 to $21.00 and set a "neutral" rating for the company in a research report on Friday, February 7th. Barclays reduced their target price on shares of Kenvue from $23.00 to $22.00 and set an "equal weight" rating for the company in a research note on Monday, April 14th. Finally, Redburn Atlantic initiated coverage on shares of Kenvue in a report on Thursday, April 10th. They issued a "neutral" rating and a $23.50 target price for the company. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Kenvue has a consensus rating of "Hold" and a consensus target price of $24.42.

Kenvue 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.