Resona Asset Management Co. Ltd. Makes New $13.60 Million Investment in Kenvue Inc. (NYSE:KVUE)

Resona Asset Management Co. Ltd. bought a new stake in Kenvue Inc. (NYSE:KVUE) in the fourth quarter, Holdings Channel reports. The institutional investor bought 635,773 shares of the company’s stock, valued at approximately $13,601,000.

Several other institutional investors and hedge funds have also modified their holdings of KVUE. Grove Bank & Trust increased its position in Kenvue by 438.4% in the 4th quarter. Grove Bank & Trust now owns 1,163 shares of the company’s stock valued at $25,000 after acquiring an additional 947 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Kenvue during the fourth quarter valued at approximately $29,000. SRS Capital Advisors Inc. increased its holdings in shares of Kenvue by 67.4% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,418 shares of the company’s stock valued at $30,000 after purchasing an additional 571 shares in the last quarter. Fortitude Family Office LLC raised its position in Kenvue by 106.6% in the 4th quarter. Fortitude Family Office LLC now owns 1,506 shares of the company’s stock worth $32,000 after purchasing an additional 777 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Kenvue by 300.8% during the 4th quarter. Versant Capital Management Inc now owns 1,920 shares of the company’s stock worth $41,000 after buying an additional 1,441 shares in the last quarter. 97.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KVUE. Evercore ISI started coverage on Kenvue in a research report on Monday, March 24th. They set an “in-line” rating and a $25.00 target price for the company. Piper Sandler boosted their price objective on Kenvue from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $24.00 target price on shares of Kenvue in a research note on Monday, February 3rd. UBS Group dropped their price target on shares of Kenvue from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, February 7th. Finally, Barclays raised their price objective on shares of Kenvue from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Thursday, March 27th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $24.00.

Kenvue Stock Performance

KVUE stock opened at $22.33 on Monday. Kenvue Inc. has a 1-year low of $17.67 and a 1-year high of $24.46. 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 market cap of $42.68 billion, a PE ratio of 42.14, a P/E/G ratio of 2.62 and a beta of 1.25. The business’s 50-day moving average price is $22.59 and its two-hundred day moving average price is $22.46.

Kenvue (NYSE:KVUE) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.26 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. As a group, research analysts forecast that Kenvue Inc. will post 1.14 earnings per share for the current year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th were given a $0.205 dividend. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $0.82 annualized dividend and a yield of 3.67%. Kenvue’s dividend payout ratio is currently 154.72%.

About Kenvue

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.