Wealth Enhancement Advisory Services LLC Raises Stock Position in Kenvue Inc. (NYSE:KVUE)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Kenvue Inc. (NYSE:KVUE) by 0.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 529,208 shares of the company’s stock after buying an additional 892 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Kenvue were worth $12,241,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. FMR LLC increased its position in shares of Kenvue by 2.3% during the third quarter. FMR LLC now owns 137,915,493 shares of the company’s stock worth $3,189,985,000 after acquiring an additional 3,075,019 shares during the period. State Street Corp increased its position in shares of Kenvue by 16.8% during the third quarter. State Street Corp now owns 127,213,940 shares of the company’s stock worth $2,942,458,000 after acquiring an additional 18,283,473 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Kenvue by 8.9% during the third 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. Geode Capital Management LLC boosted its stake in shares of Kenvue by 0.9% during the third quarter. Geode Capital Management LLC now owns 44,677,077 shares of the company’s stock valued at $1,029,810,000 after purchasing an additional 399,846 shares in the last quarter. Finally, Harris Associates L P boosted its stake in shares of Kenvue by 7.5% during the third quarter. Harris Associates L P now owns 31,459,511 shares of the company’s stock valued at $727,658,000 after purchasing an additional 2,186,114 shares in the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Kenvue Price Performance

Shares of KVUE opened at $20.80 on Monday. The company has a market cap of $39.88 billion, a price-to-earnings ratio of 37.82, a price-to-earnings-growth ratio of 2.02 and a beta of 1.46. Kenvue Inc. has a twelve month low of $17.67 and a twelve month high of $24.46. The company has a quick ratio of 0.69, a current ratio of 1.00 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $22.62 and a two-hundred day moving average of $21.61.

Kenvue (NYSE:KVUE) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.28 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 during the quarter, compared to the consensus estimate of $3.92 billion. During the same period in the previous year, the firm posted $0.31 earnings per share. The business’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, analysts predict that Kenvue Inc. will post 1.07 earnings per share for the current fiscal year.

Kenvue Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Wednesday, November 13th were paid a dividend of $0.205 per share. The ex-dividend date was Wednesday, November 13th. This represents a $0.82 annualized dividend and a dividend yield of 3.94%. Kenvue’s payout ratio is currently 149.09%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Barclays upgraded shares of Kenvue to a “hold” rating in a research note on Thursday, December 12th. Piper Sandler upgraded shares of Kenvue from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $21.00 to $26.00 in a research note on Monday, January 6th. Jefferies Financial Group assumed coverage on shares of Kenvue in a research note on Tuesday, September 24th. They set a “buy” rating and a $27.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of Kenvue from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. Finally, Royal Bank of Canada upgraded shares of Kenvue from a “hold” rating to a “moderate buy” rating in a research note on Monday, December 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $23.09.

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.