Pictet Asset Management Holding SA Lowers Holdings in Kenvue Inc. (NYSE:KVUE)

Pictet Asset Management Holding SA lowered its stake in shares of Kenvue Inc. (NYSE:KVUE) by 0.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 856,502 shares of the company’s stock after selling 4,209 shares during the period. Pictet Asset Management Holding SA’s holdings in Kenvue were worth $18,286,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of KVUE. Grove Bank & Trust raised its position in Kenvue by 438.4% during the fourth quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock valued at $25,000 after acquiring an additional 947 shares in the last quarter. Geneos Wealth Management Inc. acquired a new position in shares of Kenvue in the 4th quarter valued at $29,000. SRS Capital Advisors Inc. grew its position in Kenvue by 67.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock valued at $30,000 after buying an additional 571 shares during the period. Fortitude Family Office LLC increased its holdings in Kenvue by 106.6% in 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 in the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Kenvue by 300.8% in the fourth quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after acquiring an additional 1,441 shares during the period. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Canaccord Genuity Group lifted their price target on Kenvue from $24.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, March 5th. Deutsche Bank Aktiengesellschaft downgraded Kenvue from a “buy” rating to a “hold” rating and reduced their target price for the stock from $25.00 to $24.00 in a research note on Thursday, December 12th. Piper Sandler lifted their price target on shares of Kenvue from $24.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. Citigroup dropped their target price on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $24.00 price target on shares of Kenvue in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $24.00.

Kenvue Stock Performance

Shares of Kenvue stock opened at $23.85 on Wednesday. The business’s 50 day moving average price is $22.44 and its 200 day moving average price is $22.46. The company has a market cap of $45.57 billion, a price-to-earnings ratio of 44.99, a PEG ratio of 2.62 and a beta of 1.25. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. Kenvue Inc. has a one year low of $17.67 and a one year high of $24.46.

Kenvue (NYSE:KVUE) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.26 EPS 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%. On average, research analysts predict that Kenvue Inc. will post 1.14 EPS for the current year.

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued 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 3.44%. Kenvue’s dividend payout ratio is currently 154.72%.

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.