KLP Kapitalforvaltning AS Buys Shares of 692,246 Kenvue Inc. (NYSE:KVUE)

KLP Kapitalforvaltning AS bought a new stake in Kenvue Inc. (NYSE:KVUE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 692,246 shares of the company’s stock, valued at approximately $14,779,000.

A number of other institutional investors also recently bought and sold shares of the company. Sei Investments Co. raised its stake in shares of Kenvue by 1.0% in the fourth quarter. Sei Investments Co. now owns 2,207,060 shares of the company’s stock worth $47,121,000 after buying an additional 20,802 shares during the period. Mizuho Securities USA LLC raised its stake in shares of Kenvue by 46.3% in the fourth quarter. Mizuho Securities USA LLC now owns 181,712 shares of the company’s stock worth $3,880,000 after buying an additional 57,524 shares during the period. Virtu Financial LLC bought a new position in shares of Kenvue in the fourth quarter worth about $1,269,000. Millstone Evans Group LLC bought a new position in shares of Kenvue in the fourth quarter worth about $565,000. Finally, TD Private Client Wealth LLC raised its stake in shares of Kenvue by 116.6% in the fourth quarter. TD Private Client Wealth LLC now owns 279,728 shares of the company’s stock worth $5,972,000 after buying an additional 150,601 shares during the period. Institutional investors own 97.64% of the company’s stock.

Analyst Ratings Changes

KVUE has been the topic of several recent research reports. Barclays decreased their price objective on Kenvue from $23.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Citigroup decreased their price objective on Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. UBS Group decreased their price objective on Kenvue from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, February 7th. Canaccord Genuity Group increased their target price on Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, March 5th. Finally, Piper Sandler increased their target price on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Kenvue currently has a consensus rating of “Hold” and a consensus target price of $23.75.

Kenvue Stock Performance

NYSE KVUE opened at $23.34 on Monday. The stock has a market capitalization of $44.61 billion, a PE ratio of 44.04, a P/E/G ratio of 2.62 and a beta of 1.25. The business has a 50 day simple moving average of $22.08 and a two-hundred day simple moving average of $22.43. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.00 and a quick ratio of 0.69. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.46.

Kenvue (NYSE:KVUE) last released its quarterly 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, research analysts predict that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a dividend of $0.205 per share. This represents a $0.82 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend was Wednesday, February 12th. Kenvue’s dividend payout ratio is presently 154.72%.

Kenvue 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.