AMF Tjanstepension AB Purchases 78,540 Shares of Kenvue Inc. (NYSE:KVUE)

AMF Tjanstepension AB lifted its position in Kenvue Inc. (NYSE:KVUE) by 187.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 120,477 shares of the company’s stock after purchasing an additional 78,540 shares during the quarter. AMF Tjanstepension AB’s holdings in Kenvue were worth $2,787,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Kenvue by 12.0% during the 1st quarter. Vanguard Group Inc. now owns 166,789,085 shares of the company’s stock worth $3,579,294,000 after acquiring an additional 17,908,497 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Kenvue by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 134,565,333 shares of the company’s stock worth $2,887,773,000 after acquiring an additional 25,238,112 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Kenvue by 9.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 79,863,967 shares of the company’s stock worth $1,451,927,000 after acquiring an additional 7,023,047 shares during the last quarter. Wellington Management Group LLP lifted its position in Kenvue by 6.7% during the 4th quarter. Wellington Management Group LLP now owns 76,501,956 shares of the company’s stock valued at $1,647,087,000 after purchasing an additional 4,815,126 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Kenvue by 11.1% during the 1st quarter. JPMorgan Chase & Co. now owns 68,319,998 shares of the company’s stock valued at $1,466,147,000 after purchasing an additional 6,825,611 shares during the period. Institutional investors own 97.64% of the company’s stock.

Kenvue Stock Performance

Shares of NYSE:KVUE opened at $22.27 on Friday. The company has a market capitalization of $42.64 billion, a price-to-earnings ratio of 28.55, a P/E/G ratio of 2.92 and a beta of 1.40. The firm’s 50 day simple moving average is $21.77 and its 200 day simple moving average is $20.14. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.99 and a quick ratio of 0.68. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $23.55.

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

Kenvue Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 28th. Investors of record on Wednesday, August 14th were paid a dividend of $0.205 per share. This represents a $0.82 dividend on an annualized basis and a yield of 3.68%. This is a boost from Kenvue’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, August 14th. Kenvue’s dividend payout ratio is presently 105.13%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KVUE. 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 report on Tuesday, September 24th. JPMorgan Chase & Co. upped their target price on shares of Kenvue from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Kenvue from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Piper Sandler upped their target price on shares of Kenvue from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Finally, Jefferies Financial Group began coverage on shares of Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Kenvue has an average rating of “Hold” and a consensus price target of $22.10.

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.