Empire Life Investments Inc. Reduces Holdings in Kenvue Inc. (NYSE:KVUE)

Empire Life Investments Inc. lowered its position in Kenvue Inc. (NYSE:KVUEFree Report) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,684 shares of the company’s stock after selling 3,555 shares during the quarter. Empire Life Investments Inc.’s holdings in Kenvue were worth $2,297,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. bought a new stake in Kenvue in the third quarter worth about $2,944,816,000. FMR LLC boosted its holdings in Kenvue by 572.1% during the 3rd quarter. FMR LLC now owns 89,182,980 shares of the company’s stock valued at $1,790,794,000 after acquiring an additional 75,913,107 shares during the period. Wellington Management Group LLP grew its position in Kenvue by 576.1% in the 3rd quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock valued at $1,439,472,000 after acquiring an additional 61,084,123 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Kenvue by 227.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock worth $1,226,711,000 after purchasing an additional 42,449,470 shares during the period. Finally, Morgan Stanley lifted its position 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 purchasing an additional 30,413,040 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 1.3 %

Shares of KVUE stock traded up $0.27 during mid-day trading on Tuesday, hitting $20.63. 21,283,723 shares of the stock traded hands, compared to its average volume of 17,163,033. Kenvue Inc. has a 52-week low of $17.82 and a 52-week high of $27.80. The stock has a market cap of $39.50 billion and a P/E ratio of 26.45. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.99 and a quick ratio of 0.68. The stock’s fifty day moving average is $20.00 and its two-hundred day moving average is $20.16.

Kenvue (NYSE:KVUEGet Free Report) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.25 by $0.03. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $3.79 billion. Kenvue had a net margin of 9.63% and a return on equity of 21.06%. The business’s revenue for the quarter was down 24.9% on a year-over-year basis. Equities analysts predict that Kenvue Inc. will post 1.15 EPS for the current year.

Kenvue Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be given a $0.20 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.88%. Kenvue’s payout ratio is 102.56%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Kenvue in a report on Friday, March 1st. They issued a “neutral” rating and a $20.00 price target on the stock. William Blair assumed coverage on shares of Kenvue in a research report on Wednesday, April 3rd. They set a “market perform” rating on the stock. HSBC boosted their price target on Kenvue from $20.00 to $21.00 and gave the company a “hold” rating in a report on Wednesday, May 8th. Royal Bank of Canada reduced their price objective on Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a report on Friday, February 9th. Finally, Sanford C. Bernstein started coverage on Kenvue in a research report on Thursday, April 11th. They set an “underperform” rating and a $18.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $24.38.

Read Our Latest Stock Analysis on KVUE

About Kenvue

(Free Report)

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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Institutional Ownership by Quarter for Kenvue (NYSE:KVUE)

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