Lake Street Advisors Group LLC Grows Holdings in Kenvue Inc. (NYSE:KVUE)

Lake Street Advisors Group LLC raised its holdings in shares of Kenvue Inc. (NYSE:KVUE) by 17.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 15,919 shares of the company’s stock after buying an additional 2,361 shares during the period. Lake Street Advisors Group LLC’s holdings in Kenvue were worth $340,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Huntington National Bank grew its stake in Kenvue by 26.5% during the third quarter. Huntington National Bank now owns 4,161 shares of the company’s stock valued at $96,000 after acquiring an additional 871 shares in the last quarter. ING Groep NV grew its position in shares of Kenvue by 23.6% during the third quarter. ING Groep NV now owns 3,576,616 shares of the company’s stock valued at $82,727,000 after purchasing an additional 681,954 shares in the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Kenvue by 2.9% in the fourth quarter. Handelsbanken Fonder AB now owns 742,184 shares of the company’s stock worth $15,846,000 after purchasing an additional 21,222 shares during the last quarter. Alberta Investment Management Corp lifted its position in shares of Kenvue by 23.2% in the fourth quarter. Alberta Investment Management Corp now owns 582,895 shares of the company’s stock worth $12,445,000 after buying an additional 109,700 shares in the last quarter. Finally, Longbow Finance SA boosted its stake in Kenvue by 5.0% during the fourth quarter. Longbow Finance SA now owns 280,568 shares of the company’s stock valued at $5,990,000 after buying an additional 13,287 shares during the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Stock Performance

Kenvue stock opened at $23.15 on Friday. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.46. The company’s 50-day moving average is $21.42 and its 200 day moving average is $22.24. The firm has a market capitalization of $44.24 billion, a P/E ratio of 43.67, a price-to-earnings-growth ratio of 2.62 and a beta of 1.45. 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 (NYSE:KVUE) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Research analysts forecast that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date was Wednesday, February 12th. Kenvue’s dividend payout ratio is currently 154.72%.

Analysts Set New Price Targets

A number of analysts have issued reports on KVUE shares. UBS Group reduced 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. Piper Sandler boosted their price target on shares of Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday. Royal Bank of Canada reissued a “sector perform” rating and issued a $24.00 price objective on shares of Kenvue in a research note on Monday, February 3rd. Canaccord Genuity Group reduced their target price on shares of Kenvue from $27.00 to $24.00 and set a “buy” rating on the stock in a report on Friday, February 7th. Finally, Citigroup dropped their price target on Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. 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 company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $23.08.

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.