Kenvue Inc. (NYSE:KVUE) Shares Bought by Allworth Financial LP

Allworth Financial LP boosted its position in shares of Kenvue Inc. (NYSE:KVUE) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,023 shares of the company’s stock after acquiring an additional 1,113 shares during the period. Allworth Financial LP’s holdings in Kenvue were worth $463,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Kenvue by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after acquiring an additional 17,908,497 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Kenvue by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock worth $2,887,773,000 after acquiring an additional 25,238,112 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Kenvue by 9.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 79,863,967 shares of the company’s stock worth $1,451,927,000 after acquiring an additional 7,023,047 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Kenvue by 11.1% during the 1st quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock worth $1,466,147,000 after acquiring an additional 6,825,611 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Kenvue by 21.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock worth $789,813,000 after acquiring an additional 7,546,362 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Bank of America boosted their price objective on shares of Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Citigroup reduced their price objective on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $22.64.

Kenvue Stock Down 0.4 %

Shares of Kenvue stock opened at $22.78 on Wednesday. The company has a market cap of $43.62 billion, a P/E ratio of 29.21, a PEG ratio of 3.00 and a beta of 1.40. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.68 and a current ratio of 0.99. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.55. The firm has a fifty day moving average of $22.43 and a two-hundred day moving average of $20.32.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.93 billion. During the same period in the prior year, the company posted $0.32 EPS. The business’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts forecast that Kenvue Inc. will post 1.08 earnings per share for the current year.

Kenvue Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be paid a $0.205 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.60%. Kenvue’s payout ratio is 105.13%.

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.