ICICI Prudential Asset Management Co Ltd Grows Stock Position in Kenvue Inc. (NYSE:KVUE)

ICICI Prudential Asset Management Co Ltd raised its position in shares of Kenvue Inc. (NYSE:KVUE) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 423,060 shares of the company’s stock after buying an additional 16,460 shares during the period. Kenvue comprises about 1.0% of ICICI Prudential Asset Management Co Ltd’s holdings, making the stock its 23rd largest holding. ICICI Prudential Asset Management Co Ltd’s holdings in Kenvue were worth $9,785,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in KVUE. Riverview Trust Co purchased a new stake in shares of Kenvue in the 3rd quarter valued at about $30,000. Ashton Thomas Securities LLC purchased a new stake in shares of Kenvue during the 3rd quarter worth approximately $35,000. Studio Investment Management LLC grew its holdings in shares of Kenvue by 52.1% in the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock worth $45,000 after acquiring an additional 845 shares during the period. Deseret Mutual Benefit Administrators increased its position in shares of Kenvue by 49.7% in the third quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock valued at $45,000 after buying an additional 651 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new position in Kenvue during the 2nd quarter valued at about $61,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Analysts Set New Price Targets

KVUE has been the topic of a number of analyst reports. Piper Sandler increased their price objective on Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Bank of America upped their price target on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada downgraded shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price on the stock. in a research note on Tuesday, September 24th. Jefferies Financial Group began coverage on Kenvue in a report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kenvue from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $22.64.

Kenvue Stock Performance

Shares of Kenvue stock traded down $0.18 on Wednesday, reaching $23.47. The stock had a trading volume of 4,253,606 shares, compared to its average volume of 18,017,828. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $23.95. The business’s 50-day moving average price is $22.68 and its two-hundred day moving average price is $20.58. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The stock has a market cap of $45.00 billion, a P/E ratio of 42.55, a price-to-earnings-growth ratio of 3.08 and a beta of 1.36.

Kenvue (NYSE:KVUE) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $3.90 billion during the quarter, compared to analyst estimates of $3.92 billion. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.31 earnings per share. On average, sell-side analysts forecast that Kenvue Inc. will post 1.07 EPS for the current year.

Kenvue Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th will be paid a $0.205 dividend. The ex-dividend date is Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.49%. Kenvue’s dividend payout ratio (DPR) is presently 149.09%.

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.