Financial Avengers Inc. Increases Stake in Kenvue Inc. (NYSE:KVUE)

Financial Avengers Inc. raised its stake in shares of Kenvue Inc. (NYSE:KVUE) by 15.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,530 shares of the company’s stock after buying an additional 6,278 shares during the quarter. Kenvue comprises approximately 0.5% of Financial Avengers Inc.’s holdings, making the stock its 22nd largest position. Financial Avengers Inc.’s holdings in Kenvue were worth $1,076,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KVUE. State Street Corp grew its holdings in Kenvue by 16.8% during the 3rd quarter. State Street Corp now owns 127,213,940 shares of the company’s stock valued at $2,942,458,000 after buying an additional 18,283,473 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Kenvue by 110.9% in the second quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock valued at $372,880,000 after purchasing an additional 10,783,258 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Kenvue by 21.0% in the second quarter. Bank of New York Mellon Corp now owns 43,444,085 shares of the company’s stock valued at $789,813,000 after purchasing an additional 7,546,362 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Kenvue by 8.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 86,979,341 shares of the company’s stock valued at $2,011,832,000 after purchasing an additional 7,115,374 shares in the last quarter. Finally, Holocene Advisors LP grew its holdings in shares of Kenvue by 75.5% in the third quarter. Holocene Advisors LP now owns 13,886,454 shares of the company’s stock valued at $321,194,000 after purchasing an additional 5,975,392 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Royal Bank of Canada lowered shares of Kenvue from an “outperform” rating to a “sector perform” rating and set a $24.00 target price for the company. in a report on Tuesday, September 24th. JPMorgan Chase & Co. raised their price target on Kenvue from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Bank of America raised their price target on Kenvue from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group assumed coverage on Kenvue in a research report on Tuesday, September 24th. They issued a “buy” rating and a $27.00 price target for the company. Finally, Piper Sandler raised their price target on Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.64.

Kenvue Stock Down 0.3 %

NYSE:KVUE opened at $22.74 on Wednesday. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. The company has a market cap of $43.60 billion, a price-to-earnings ratio of 41.35, a price-to-earnings-growth ratio of 2.07 and a beta of 1.37. The stock has a fifty day simple moving average of $22.96 and a 200-day simple moving average of $21.15. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66.

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

Kenvue Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.205 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 annualized dividend and a dividend yield of 3.61%. Kenvue’s dividend payout ratio is currently 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.