Legal & General Group Plc Purchases 332,870 Shares of Kenvue Inc. $KVUE

Legal & General Group Plc lifted its holdings in Kenvue Inc. (NYSE:KVUE) by 2.3% during the third quarter, HoldingsChannel reports. The firm owned 14,785,925 shares of the company’s stock after purchasing an additional 332,870 shares during the period. Legal & General Group Plc’s holdings in Kenvue were worth $239,976,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Kenvue by 1.8% during the 2nd quarter. Vanguard Group Inc. now owns 233,246,267 shares of the company’s stock valued at $4,881,844,000 after purchasing an additional 4,101,880 shares during the period. Geode Capital Management LLC increased its position in Kenvue by 1.2% in the 2nd quarter. Geode Capital Management LLC now owns 49,001,887 shares of the company’s stock worth $1,021,267,000 after buying an additional 604,953 shares during the period. American Century Companies Inc. lifted its holdings in shares of Kenvue by 22.4% during the third quarter. American Century Companies Inc. now owns 37,046,660 shares of the company’s stock worth $601,267,000 after buying an additional 6,781,640 shares during the last quarter. Independent Franchise Partners LLP lifted its holdings in shares of Kenvue by 233.4% during the second quarter. Independent Franchise Partners LLP now owns 31,265,574 shares of the company’s stock worth $654,388,000 after buying an additional 21,886,537 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Kenvue in the second quarter valued at approximately $537,418,000. Institutional investors and hedge funds own 97.64% of the company’s stock.

Kenvue Stock Performance

NYSE KVUE opened at $17.38 on Friday. Kenvue Inc. has a 1-year low of $14.02 and a 1-year high of $25.17. The company has a 50 day moving average of $17.89 and a 200-day moving average of $17.35. The company has a current ratio of 0.96, a quick ratio of 0.68 and a debt-to-equity ratio of 0.66. The firm has a market cap of $33.30 billion, a price-to-earnings ratio of 22.56, a PEG ratio of 4.01 and a beta of 0.51.

Kenvue (NYSE:KVUE) last released its quarterly earnings results on Tuesday, February 17th. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. Kenvue had a return on equity of 19.72% and a net margin of 9.72%.The business had revenue of $3.78 billion for the quarter, compared to analyst estimates of $3.68 billion. During the same period in the prior year, the company earned $0.26 EPS. Kenvue’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Wednesday, February 11th were issued a dividend of $0.2075 per share. This represents a $0.83 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Wednesday, February 11th. Kenvue’s dividend payout ratio is presently 107.79%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on KVUE. Barclays boosted their target price on shares of Kenvue from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, March 6th. Citigroup increased their price target on shares of Kenvue from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, February 18th. Argus upgraded shares of Kenvue to a “hold” rating in a report on Friday, March 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Kenvue in a research report on Friday, January 9th. Finally, Canaccord Genuity Group increased their target price on shares of Kenvue from $17.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday, February 18th. Three analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $19.58.

Kenvue Profile

Kenvue is a consumer health company that was established as a standalone, publicly traded business after separating from Johnson & Johnson. Listed on the New York Stock Exchange under the symbol KVUE, Kenvue focuses on the development, manufacture, marketing and distribution of consumer health and personal care products across a range of categories including skin and beauty care, baby care, oral care, wound care and over‑the‑counter medicines.

The company owns and markets a portfolio of widely recognized consumer brands, including names familiar to global shoppers across retail and pharmacy channels.