Intact Investment Management Inc. Raises Stock Position in Kenvue Inc. (NYSE:KVUE)

Intact Investment Management Inc. lifted its stake in shares of Kenvue Inc. (NYSE:KVUE) by 32.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 173,369 shares of the company’s stock after buying an additional 42,200 shares during the quarter. Intact Investment Management Inc.’s holdings in Kenvue were worth $3,733,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. purchased a new stake in Kenvue in the 3rd quarter valued at $2,944,816,000. FMR LLC raised its position in Kenvue by 572.1% in the 3rd quarter. FMR LLC now owns 89,182,980 shares of the company’s stock valued at $1,790,794,000 after purchasing an additional 75,913,107 shares during the last quarter. Wellington Management Group LLP raised its position in Kenvue by 576.1% in the 3rd quarter. Wellington Management Group LLP now owns 71,686,830 shares of the company’s stock valued at $1,439,472,000 after purchasing an additional 61,084,123 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Kenvue by 227.7% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 61,091,189 shares of the company’s stock valued at $1,226,711,000 after purchasing an additional 42,449,470 shares during the last quarter. Finally, Morgan Stanley raised its position in Kenvue by 4,057.4% in the 3rd quarter. Morgan Stanley now owns 31,162,614 shares of the company’s stock valued at $625,745,000 after purchasing an additional 30,413,040 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KVUE. Sanford C. Bernstein began coverage on shares of Kenvue in a research note on Thursday, April 11th. They issued an “underperform” rating and a $18.00 price objective on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Kenvue from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Friday, February 9th. Royal Bank of Canada dropped their price objective on shares of Kenvue from $25.00 to $24.00 and set an “outperform” rating on the stock in a research note on Friday, February 9th. William Blair assumed coverage on shares of Kenvue in a research note on Wednesday, April 3rd. They issued a “market perform” rating on the stock. Finally, The Goldman Sachs Group initiated coverage on shares of Kenvue in a research note on Friday, March 1st. They set a “neutral” rating and a $20.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Kenvue presently has a consensus rating of “Hold” and an average target price of $24.85.

Kenvue Stock Down 0.8 %

NYSE:KVUE traded down $0.16 during mid-day trading on Friday, reaching $18.86. The company’s stock had a trading volume of 15,454,689 shares, compared to its average volume of 13,458,618. The company’s fifty day simple moving average is $19.84 and its two-hundred day simple moving average is $20.13. The company has a quick ratio of 0.78, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Kenvue Inc. has a twelve month low of $17.82 and a twelve month high of $27.80.

Kenvue (NYSE:KVUE) last issued its quarterly earnings results on Thursday, February 8th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Kenvue had a return on equity of 15.62% and a net margin of 9.87%. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.78 billion. The firm’s revenue was down 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Kenvue Inc. will post 1.15 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Stockholders of record on Wednesday, May 8th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.24%. The ex-dividend date is Tuesday, May 7th.

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.