Norges Bank Makes New $521.35 Million Investment in Kenvue Inc. (NYSE:KVUE)

Norges Bank bought a new stake in shares of Kenvue Inc. (NYSE:KVUE) during the fourth quarter, HoldingsChannel.com reports. The fund bought 24,419,107 shares of the company’s stock, valued at approximately $521,348,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of KVUE. The Manufacturers Life Insurance Company increased its stake in Kenvue by 5.5% in the third quarter. The Manufacturers Life Insurance Company now owns 2,138,576 shares of the company’s stock worth $49,465,000 after purchasing an additional 110,849 shares during the period. Brooklyn Investment Group purchased a new position in Kenvue in the 3rd quarter worth about $71,000. Townsquare Capital LLC lifted its holdings in Kenvue by 25.3% during the 3rd quarter. Townsquare Capital LLC now owns 52,713 shares of the company’s stock valued at $1,219,000 after buying an additional 10,629 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Kenvue by 30.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,992,933 shares of the company’s stock valued at $231,137,000 after buying an additional 2,316,443 shares during the period. Finally, Isthmus Partners LLC grew its stake in Kenvue by 2.8% in the 3rd quarter. Isthmus Partners LLC now owns 550,504 shares of the company’s stock worth $12,733,000 after acquiring an additional 14,964 shares in the last quarter. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Kenvue Price Performance

NYSE KVUE opened at $23.74 on Friday. The firm’s fifty day simple moving average is $22.32 and its two-hundred day simple moving average is $22.46. The firm has a market capitalization of $45.36 billion, a P/E ratio of 44.78, a P/E/G ratio of 2.62 and a beta of 1.25. The company has a current ratio of 1.00, a quick ratio of 0.69 and a debt-to-equity ratio of 0.66. Kenvue Inc. has a 12-month low of $17.67 and a 12-month high of $24.46.

Kenvue (NYSE:KVUE) last announced its earnings results on Thursday, February 6th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Kenvue had a return on equity of 20.97% and a net margin of 6.66%. Analysts forecast that Kenvue Inc. will post 1.14 EPS for the current fiscal year.

Kenvue Announces Dividend

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. This represents a $0.82 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Wednesday, February 12th. Kenvue’s payout ratio is currently 154.72%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on KVUE shares. Barclays lifted their price target on shares of Kenvue from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Thursday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $24.00 target price on shares of Kenvue in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft lowered Kenvue from a “buy” rating to a “hold” rating and cut their price target for the company from $25.00 to $24.00 in a research note on Thursday, December 12th. Evercore ISI began coverage on shares of Kenvue in a report on Monday, March 24th. They set an “in-line” rating and a $25.00 target price on the stock. Finally, Citigroup reduced their price target on shares of Kenvue from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $24.00.

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.