Nordea Investment Management AB Reduces Position in Kenvue Inc. (NYSE:KVUE)

Nordea Investment Management AB reduced its position in Kenvue Inc. (NYSE:KVUE) by 8.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,618,899 shares of the company’s stock after selling 587,409 shares during the quarter. Nordea Investment Management AB’s holdings in Kenvue were worth $141,777,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in shares of Kenvue during the third quarter valued at $30,000. Ashton Thomas Securities LLC purchased a new position in Kenvue in the 3rd quarter worth about $35,000. 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 valued at $41,000 after buying an additional 1,441 shares in the last quarter. Studio Investment Management LLC boosted its position in Kenvue by 52.1% in the 2nd quarter. Studio Investment Management LLC now owns 2,468 shares of the company’s stock valued at $45,000 after buying an additional 845 shares during the period. Finally, Deseret Mutual Benefit Administrators grew its stake in Kenvue by 49.7% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 1,960 shares of the company’s stock worth $45,000 after acquiring an additional 651 shares in the last quarter. Institutional investors own 97.64% of the company’s stock.

Analyst Upgrades and Downgrades

KVUE has been the subject of several research analyst reports. Piper Sandler raised shares of Kenvue from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $21.00 to $26.00 in a research note on Monday. JPMorgan Chase & Co. lifted their target price on Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Jefferies Financial Group began coverage on Kenvue in a research report on Tuesday, September 24th. They set a “buy” rating and a $27.00 price target on the stock. Bank of America lifted their price objective on Kenvue from $24.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada upgraded shares of Kenvue from a “hold” rating to a “moderate buy” rating in a report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Kenvue currently has an average rating of “Hold” and a consensus price target of $23.09.

Kenvue Stock Down 0.6 %

NYSE:KVUE opened at $21.08 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.69 and a current ratio of 1.00. The stock has a market capitalization of $40.42 billion, a P/E ratio of 38.33, a P/E/G ratio of 2.02 and a beta of 1.46. The company’s 50-day simple moving average is $22.81 and its 200-day simple moving average is $21.53. Kenvue Inc. has a fifty-two week low of $17.67 and a fifty-two week high of $24.46.

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

Kenvue Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were issued a $0.205 dividend. This represents a $0.82 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date was Wednesday, November 13th. Kenvue’s dividend payout ratio is presently 149.09%.

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.