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

Principal Financial Group Inc. grew its position in shares of Kenvue Inc. (NYSE:KVUE) by 3.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,364,451 shares of the company’s stock after purchasing an additional 73,542 shares during the period. Principal Financial Group Inc. owned approximately 0.12% of Kenvue worth $54,690,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KVUE. State Street Corp increased its position in Kenvue by 16.8% during the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock valued at $2,942,458,000 after acquiring an additional 18,283,473 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Kenvue by 110.9% during the second quarter. Van ECK Associates Corp now owns 20,510,427 shares of the company’s stock valued at $372,880,000 after buying an additional 10,783,258 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Kenvue by 8.9% in the 3rd 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. Holocene Advisors LP lifted its holdings in Kenvue by 75.5% during the third quarter. Holocene Advisors LP now owns 13,886,454 shares of the company’s stock worth $321,194,000 after buying an additional 5,975,392 shares during the period. Finally, American Century Companies Inc. lifted its stake in shares of Kenvue by 20.7% during the 2nd quarter. American Century Companies Inc. now owns 27,382,644 shares of the company’s stock worth $497,816,000 after purchasing an additional 4,700,697 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Up 0.7 %

KVUE stock opened at $21.77 on Monday. Kenvue Inc. has a 12 month low of $17.67 and a 12 month high of $24.46. The company has a market cap of $41.74 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 2.02 and a beta of 1.36. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average of $22.97 and a two-hundred day moving average of $21.31.

Kenvue (NYSE:KVUE) last issued its earnings results on Thursday, November 7th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Kenvue had a net margin of 6.88% and a return on equity of 21.43%. The company had revenue of $3.90 billion for the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm earned $0.31 earnings per share. Kenvue’s quarterly revenue was down .4% compared to the same quarter last year. As a group, analysts forecast that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 13th were given a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $0.82 dividend on an annualized basis and a yield of 3.77%. Kenvue’s payout ratio is currently 149.09%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on KVUE shares. Royal Bank of Canada raised shares of Kenvue from a “hold” rating to a “moderate buy” rating in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft lowered Kenvue from a “buy” rating to a “hold” rating and dropped their target price for the company from $25.00 to $24.00 in a research report on Thursday, December 12th. JPMorgan Chase & Co. increased 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. Piper Sandler raised their price objective on shares of Kenvue from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Finally, Barclays upgraded Kenvue to a “hold” rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.64.

Kenvue 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.