Allspring Global Investments Holdings LLC Has $1.82 Million Position in Kenvue Inc. (NYSE:KVUE)

Allspring Global Investments Holdings LLC cut its holdings in Kenvue Inc. (NYSE:KVUE) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 85,659 shares of the company’s stock after selling 3,946 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Kenvue were worth $1,823,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Grove Bank & Trust grew its holdings in Kenvue by 438.4% during the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after acquiring an additional 947 shares during the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Kenvue during the fourth quarter worth approximately $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Kenvue during the third quarter worth approximately $35,000. Fortitude Family Office LLC grew its stake in shares of Kenvue by 106.6% during the fourth quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock valued at $32,000 after purchasing an additional 777 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Kenvue by 300.8% in the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock valued at $41,000 after purchasing an additional 1,441 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on KVUE shares. Canaccord Genuity Group reduced their price objective on Kenvue from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Citigroup cut their price target on Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Piper Sandler raised Kenvue from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $21.00 to $26.00 in a research note on Monday, January 6th. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price target on shares of Kenvue in a report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Kenvue from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $25.00 to $24.00 in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Kenvue has an average rating of “Hold” and a consensus target price of $23.00.

Kenvue Stock Up 4.1 %

KVUE stock opened at $23.31 on Friday. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $24.46. The stock’s 50 day simple moving average is $21.31 and its 200 day simple moving average is $22.18. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The company has a market cap of $44.68 billion, a P/E ratio of 43.97, a price-to-earnings-growth ratio of 2.62 and a beta of 1.45.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, meeting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. On average, research analysts expect that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be paid a dividend of $0.205 per share. The ex-dividend date is Wednesday, February 12th. This represents a $0.82 annualized dividend and a dividend yield of 3.52%. Kenvue’s payout ratio is 154.72%.

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.