abrdn plc Raises Stake in Kenvue Inc. (NYSE:KVUE)

abrdn plc increased its stake in Kenvue Inc. (NYSE:KVUE) by 298.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 708,047 shares of the company’s stock after purchasing an additional 530,444 shares during the quarter. abrdn plc’s holdings in Kenvue were worth $16,409,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Kenvue by 0.5% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,864,575 shares of the company’s stock valued at $82,934,000 after buying an additional 20,943 shares in the last quarter. Norden Group LLC purchased a new position in Kenvue in the 1st quarter valued at approximately $1,792,000. First Trust Direct Indexing L.P. raised its holdings in Kenvue by 29.2% during the first quarter. First Trust Direct Indexing L.P. now owns 24,463 shares of the company’s stock worth $525,000 after purchasing an additional 5,524 shares during the last quarter. Diversify Advisory Services LLC purchased a new stake in Kenvue during the first quarter worth $565,000. Finally, Janney Montgomery Scott LLC grew its holdings in Kenvue by 56.2% in the first quarter. Janney Montgomery Scott LLC now owns 1,840,875 shares of the company’s stock valued at $39,505,000 after purchasing an additional 662,666 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Citigroup reduced their price target on shares of Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. UBS Group upped their target price on Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Bank of America raised their price target on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $22.64.

Kenvue Trading Down 0.9 %

Shares of Kenvue stock opened at $22.73 on Friday. The firm has a market cap of $43.53 billion, a PE ratio of 39.19, a P/E/G ratio of 2.99 and a beta of 1.40. The company has a quick ratio of 0.68, a current ratio of 0.99 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $23.55. The business’s fifty day moving average is $22.53 and its two-hundred day moving average is $20.40.

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

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 13th will be given a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Wednesday, November 13th. Kenvue’s dividend payout ratio (DPR) is 141.38%.

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.