Massachusetts Financial Services Co. MA Purchases 7,023,047 Shares of Kenvue Inc. (NYSE:KVUE)

Massachusetts Financial Services Co. MA lifted its holdings in Kenvue Inc. (NYSE:KVUE) by 9.6% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 79,863,967 shares of the company’s stock after buying an additional 7,023,047 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Kenvue were worth $1,451,927,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kennon Green & Company LLC increased its stake in shares of Kenvue by 140.7% in the 2nd quarter. Kennon Green & Company LLC now owns 159,106 shares of the company’s stock valued at $2,893,000 after acquiring an additional 93,008 shares in the last quarter. Poehling Capital Management INC. increased its stake in Kenvue by 0.5% in the second quarter. Poehling Capital Management INC. now owns 104,934 shares of the company’s stock valued at $1,908,000 after purchasing an additional 547 shares in the last quarter. Pinion Investment Advisors LLC raised its holdings in shares of Kenvue by 11.9% during the second quarter. Pinion Investment Advisors LLC now owns 27,856 shares of the company’s stock valued at $506,000 after purchasing an additional 2,970 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Kenvue by 7.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 5,721,005 shares of the company’s stock worth $104,008,000 after purchasing an additional 375,425 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Kenvue by 18.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,357,781 shares of the company’s stock valued at $24,684,000 after buying an additional 214,802 shares during the period. 97.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Citigroup dropped their price target on Kenvue from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft upped their target price on Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. UBS Group lifted their price target on shares of Kenvue from $20.00 to $22.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $24.00 price objective on shares of Kenvue in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $21.44.

Kenvue Stock Performance

Shares of KVUE stock opened at $23.39 on Monday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. The firm has a 50-day moving average of $20.41 and a 200-day moving average of $19.82. Kenvue Inc. has a one year low of $17.67 and a one year high of $23.47. The company has a market cap of $44.80 billion, a P/E ratio of 29.99, a P/E/G ratio of 2.92 and a beta of 1.40.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.28 by $0.04. Kenvue had a net margin of 7.23% and a return on equity of 21.80%. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter last year, the business posted $0.32 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. Equities research analysts forecast that Kenvue Inc. will post 1.08 EPS for the current fiscal year.

Kenvue Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Wednesday, August 14th were given a $0.205 dividend. The ex-dividend date was Wednesday, August 14th. This represents a $0.82 annualized dividend and a yield of 3.51%. This is a boost from Kenvue’s previous quarterly dividend of $0.20. Kenvue’s payout ratio is currently 105.13%.

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.