Invesco Ltd. Raises Position in Kenvue Inc. (NYSE:KVUE)

Invesco Ltd. boosted its stake in Kenvue Inc. (NYSE:KVUE) by 13.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 16,986,272 shares of the company’s stock after buying an additional 1,961,051 shares during the quarter. Invesco Ltd.’s holdings in Kenvue were worth $362,657,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cerity Partners LLC raised its holdings in Kenvue by 0.3% in the 4th quarter. Cerity Partners LLC now owns 793,970 shares of the company’s stock valued at $17,090,000 after acquiring an additional 2,529 shares during the last quarter. Federated Hermes Inc. raised its holdings in Kenvue by 11.6% in the 4th quarter. Federated Hermes Inc. now owns 8,420,638 shares of the company’s stock valued at $179,781,000 after acquiring an additional 876,624 shares during the last quarter. Waterloo Capital L.P. acquired a new stake in Kenvue in the 4th quarter valued at about $288,000. Envestnet Asset Management Inc. raised its holdings in Kenvue by 79.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 10,224,056 shares of the company’s stock valued at $218,284,000 after acquiring an additional 4,523,918 shares during the last quarter. Finally, Aviva PLC raised its holdings in Kenvue by 1,159.8% in the 4th quarter. Aviva PLC now owns 1,154,701 shares of the company’s stock valued at $24,653,000 after acquiring an additional 1,063,043 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Stock Performance

Kenvue stock opened at $21.79 on Thursday. The company has a market capitalization of $41.65 billion, a price-to-earnings ratio of 41.11, a price-to-earnings-growth ratio of 2.62 and a beta of 1.02. 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 12-month low of $17.67 and a 12-month high of $24.46. The firm’s fifty day moving average price is $22.61 and its 200 day moving average price is $22.42.

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

Kenvue Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a dividend of $0.205 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.76%. Kenvue’s dividend payout ratio (DPR) is 154.72%.

Analysts Set New Price Targets

A number of analysts have commented on KVUE shares. Piper Sandler increased their price objective on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, February 24th. Evercore ISI started coverage on shares of Kenvue in a report on Monday, March 24th. They set an “in-line” rating and a $25.00 price target for the company. Canaccord Genuity Group raised their price target on shares of Kenvue from $24.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, March 5th. Barclays raised their price target on shares of Kenvue from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Thursday, March 27th. Finally, 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 report on Friday, February 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $24.00.

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.