Morningstar Investment Management LLC Buys 2,919 Shares of Kenvue Inc. (NYSE:KVUE)

Morningstar Investment Management LLC increased its position in Kenvue Inc. (NYSE:KVUE) by 30.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 12,392 shares of the company’s stock after acquiring an additional 2,919 shares during the quarter. Morningstar Investment Management LLC’s holdings in Kenvue were worth $265,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Grove Bank & Trust lifted its stake in Kenvue by 438.4% in the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock worth $25,000 after purchasing an additional 947 shares in the last quarter. Geneos Wealth Management Inc. purchased a new stake in shares of Kenvue in the fourth quarter worth $29,000. Fortitude Family Office LLC boosted its stake in 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 buying an additional 777 shares during the period. Ashton Thomas Securities LLC bought a new stake in Kenvue during the third quarter valued at $35,000. Finally, Versant Capital Management Inc grew its position in Kenvue by 300.8% during the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after buying an additional 1,441 shares in the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 1.2 %

Shares of NYSE:KVUE opened at $22.26 on Thursday. The stock has a market capitalization of $42.68 billion, a P/E ratio of 42.00, a price-to-earnings-growth ratio of 2.57 and a beta of 1.45. The stock’s 50-day moving average price is $21.28 and its 200-day moving average price is $22.14. The company has a current ratio of 1.00, a quick ratio of 0.69 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) last issued its earnings results 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, equities analysts anticipate that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th will be issued a $0.205 dividend. This represents a $0.82 annualized dividend and a dividend yield of 3.68%. The ex-dividend date is Wednesday, February 12th. Kenvue’s dividend payout ratio is 154.72%.

Analyst Ratings Changes

Several analysts have weighed in on KVUE shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 price target on shares of Kenvue in a report on Monday, February 3rd. Barclays lowered their target price on shares of Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. UBS Group cut their price target on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Piper Sandler raised shares of Kenvue from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $21.00 to $26.00 in a report on Monday, January 6th. Finally, Canaccord Genuity Group dropped their price objective on shares of Kenvue from $27.00 to $24.00 and set a “buy” rating for the company in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.00.

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.